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Super Profit Method

what is diffe...

Question

what is difference between NON CURRENT ASSETS and NON CURRENT LIABILITIES

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Solution

Dear Student,
Non-Current Assets are used in a business for long term purposes i.e., Land , building, machinery, plant etc
Non-Current Liabilities are those liabilities which are payable in more than one year i.e., Bank loan etc

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___________ = Non current assets + current assets - current liabilities.

As per the Schedule III, all items of assets and liabilities are to be bifurcated between current and non-current portions.

Q. From the following calculate:

(a) Current Ratio; and
(b) Working Capital Turnover Ratio.

		₹
(i)	Revenue from Operations	1,50,000
(ii)	Total Assets	1,00,000
(iii)	Shareholders' Funds	60,000
(iv)	Non-current Liabilities	20,000
(v)	Non-current Assets	50,000

Q. Calculate Current Ratio from the following information:


Particulars	₹	Particulars		₹
Total Assets	5,00,000	Non-current Liabilities		1,30,000
Fixed Tangible Assets	2,50,000	Non-current Investments		1,50,000
Shareholders' Funds	3,20,000

Q. Prepare a common size Balance Sheet of KJ Ltd. from the following information:

	Particulars	Note No.	31.3.2017 Rs.	31.3.2016 Rs.
I-	Equity and Liabilities:-
1.	Shareholder's Funds		$8, 00, 000$	$4, 00, 000$
2.	Non-current Liabilites		$5, 00, 000$	$2, 00, 000$
3.	Current Liabilities		$3, 00, 000$	$2, 00, 000$
		Total	$¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 16, 00, 000 - --------- -$	$¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 8, 00, 000 - -------- -$
II-	Assets
1.	Non-current Assets		$10, 00, 000$	$5, 00, 000$
2.	Current Assets		$6, 00, 000$	$3, 00, 000$
		Total	$¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 16, 00, 000 - --------- -$	$¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 8, 00, 000 - -------- -$

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