(a) From the following particulars, calculate total sales. | Particulars | ₹ | | --- | --- | | Debtors on 1st April 2017 | 1,50,000 | | Bills receivable on 1st April 2017 | 40,000 | | Cash received from Debtors | 3,90,000 | | Cash received for bills receivable | 90,000 | | Bills receivable dishonoured | 10,000 | | Sales return | 40,000 | | Bills receivable on 31st March 2018 | 30,000 | | Sundry Debtors on 31st March 2018 | 1,30,000 | | Cash sales | 2,00,000 | OR (b) Following is the balance sheet of Lakshmi Ltd. as on 31st March 2019 : | Particulars | ₹ | | --- | --- | | I. Equity and Liabilities | | | 1. Shareholder's funds — Equity share capital | 4,00,000 | | 2. Non-current liabilities — Long-term borrowings | 2,00,000 | | 3. Current liabilities — (a) Short-term borrowings | 50,000 | | (b) Trade payables | 3,10,000 | | (c) Other current liabilities — Expenses payable | 15,000 | | (d) Short-term provisions | 25,000 | | Total | 10,00,000 | | II. Assets | | | 1. Non-current assets — (a) Fixed assets — Tangible assets | 4,00,000 | | 2. Current assets — (a) Inventories | 1,60,000 | | (b) Trade debtors | 3,20,000 | | (c) Cash and cash equivalents | 80,000 | | (d) Other current assets — Prepaid expenses | 40,000 | | Total | 10,00,000 | Calculate : (i) Current ratio (ii) Quick ratio

> > [!TLDR] > (a) Credit sales from the Total Debtors A/c = 4,90,000; total sales = 6,90,000. (b) Current ratio = 1.5 : 1 and Quick ratio = 1 : 1. > > **PART (a) - Total Sales** > > First prepare a Bills Receivable Account to find the bills received during the year, then a Total Debtors Account to find credit sales. > > **Bills Receivable Account** > > | Dr | Rs. | Cr | Rs. | > | --- | --- | --- | --- | > | To Balance b/d | 40,000 | By Cash (B/R collected) | 90,000 | > | To Sundry Debtors (B/R received - bal. fig.) | 90,000 | By Sundry Debtors (B/R dishonoured) | 10,000 | > | | | By Balance c/d | 30,000 | > | | **1,30,000** | | **1,30,000** | > > **Total Debtors Account** > > | Dr | Rs. | Cr | Rs. | > | --- | --- | --- | --- | > | To Balance b/d | 1,50,000 | By Cash received | 3,90,000 | > | To Bills Receivable (dishonoured) | 10,000 | By Sales return | 40,000 | > | To Credit sales (bal. fig.) | 4,90,000 | By Bills Receivable (received) | 90,000 | > | | | By Balance c/d | 1,30,000 | > | | **6,50,000** | | **6,50,000** | > > **Total sales** > > | Item | Rs. | > | --- | --- | > | Credit sales | 4,90,000 | > | Add: Cash sales | 2,00,000 | > | **Total sales** | **6,90,000** | > > **PART (b) - Lakshmi Ltd.: Current and Quick Ratios** > …

(a) From the following particulars, calculate tota – Class 12 Accountancy

Question 21 of 50

(a) From the following particulars, calculate total sales.

Particulars	₹
Debtors on 1st April 2017	1,50,000
Bills receivable on 1st April 2017	40,000
Cash received from Debtors	3,90,000
Cash received for bills receivable	90,000
Bills receivable dishonoured	10,000
Sales return	40,000
Bills receivable on 31st March 2018	30,000
Sundry Debtors on 31st March 2018	1,30,000
Cash sales	2,00,000

(b) Following is the balance sheet of Lakshmi Ltd. as on 31st March 2019 :

Particulars	₹
I. Equity and Liabilities
1. Shareholder's funds — Equity share capital	4,00,000
2. Non-current liabilities — Long-term borrowings	2,00,000
3. Current liabilities — (a) Short-term borrowings	50,000
(b) Trade payables	3,10,000
(c) Other current liabilities — Expenses payable	15,000
(d) Short-term provisions	25,000
Total	10,00,000
II. Assets
1. Non-current assets — (a) Fixed assets — Tangible assets	4,00,000
2. Current assets — (a) Inventories	1,60,000
(b) Trade debtors	3,20,000
(c) Cash and cash equivalents	80,000
(d) Other current assets — Prepaid expenses	40,000
Total	10,00,000

Calculate : (i) Current ratio (ii) Quick ratio

Tamil Nadu DgeTamil Nadu HSC (DGE) Commerce Board 2020Subjective· 5mImportance★★★★★

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(a) Credit sales from the Total Debtors A/c = 4,90,000; total sales = 6,90,000. (b) Current ratio = 1.5 : 1 and Quick ratio = 1 : 1.

PART (a) - Total Sales

First prepare a Bills Receivable Account to find the bills received during the year, then a Total Debtors Account to find credit sales.

Bills Receivable Account

Dr	Rs.	Cr	Rs.
To Balance b/d	40,000	By Cash (B/R collected)	90,000
To Sundry Debtors (B/R received - bal. fig.)	90,000	By Sundry Debtors (B/R dishonoured)	10,000
		By Balance c/d	30,000
	1,30,000		1,30,000

Total Debtors Account

Dr	Rs.	Cr	Rs.
To Balance b/d	1,50,000	By Cash received	3,90,000
To Bills Receivable (dishonoured)	10,000	By Sales return	40,000
To Credit sales (bal. fig.)	4,90,000	By Bills Receivable (received)	90,000
		By Balance c/d	1,30,000
	6,50,000		6,50,000

Total sales

Item	Rs.
Credit sales	4,90,000
Add: Cash sales	2,00,000
Total sales	6,90,000

PART (b) - Lakshmi Ltd.: Current and Quick Ratios

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Same / Similar Concept — real previous-year questions on the same or a closely similar concept, not this exact question.

CBSE 2025Set MARCH1 markMCQ
$Q. Closing balance of debtors ₹ 20,000, Cash received ₹ 1,40,000, Credit sales ₹ 1,20,000 Opening balance of debtors :$
(a) ₹ 20,000
(b) ₹ 30,000
(c) ₹ 40,000
(d) ₹ 1,30,000
›Reveal solutionSolution

The opening balance of debtors is ₹ 40,000, found by balancing the Total Debtors Account.

In a Total Debtors Account (Accounts from Incomplete Records, TN HSC Commerce), the debit side carries the opening balance and credit sales, and the credit side carries cash received from debtors and the closing balance:

Total Debtors A/c ₹ ₹
To Opening balance (?) ? By Cash received 1,40,000
To Credit sales 1,20,000 By Closing balance 20,000
…

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CBSE 2024Set MARCH1 markMCQ
$Q. The amount of credit sales can be computed from :$
(a) Bills receivable account
(b) Total debtors account
(c) Bills payable account
(d) Total creditors account
›Reveal solutionSolution
Credit sales are computed as the balancing figure of the Total Debtors Account — option (b).

When books are kept on a single-entry (incomplete-records) basis, the credit sales figure is not directly available, so it is recovered from a control account. The Total Debtors Account summarises every transaction affecting customers who owe the business:

Debit side: opening debtors, and credit sales (the figure to be found).

Credit side: cash/cheque received from debtors, discount allowed, sales returns, bad debts, bills receivable accepted, and closing debtors. …
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Total Debtors A/c	₹		₹
To Opening balance (?)	?	By Cash received	1,40,000
To Credit sales	1,20,000	By Closing balance	20,000
…

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