Page 356 - VIRANSH COACHING CLASSES

Debtors xxx
Bill Receivable xxx
Total Quick Assets xxx
Non-Quick Assets
Stock xxx
Prepaid expenses xxx
Advances xxx xxx
Total Non-quick Assets
Total Current Assets (Quick + Non Quick Asset) xxx
Less Current Liabilities
Quick Liabilities
Creditors xxx
Outside Expenses xxx
Bill Payable xxx xxx
Total Current Liability
Non-Quick Liability
Bank overdraft xxx xxx
Total Current Liabilities
Working Capital (Current Assets Less Current Liabilities) xxx
Total Funds Employed /Applied xxx

Illustrations

1 : Convert following Balance Sheet into Vertical Balance Sheet

Balance Sheet as on 31/3/2019

Liabilities Amount ` Assets Amount `
Capital 50,000 Fixed Assets 60,000
Reserves 15,000 Investment 10,000
12% Loan 30,000 Current Assets 55,000
Current Liabilities 30,000
1,25,000 1,25,000

Solution No. 1 Vertical Balance Sheet as on 31/3/2019

Particulars Amount ` Amount `
1) Sources of Funds
a) Owners Fund Capital 50,000
(+) Reserves 15,000

(-) Fictitious Assets Nil
Net Worth 65000
b) Borrowed Funds
12% Loan 30,000
Total Fund available 95,000

347