accounting formulas

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9 Terms

1
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The accounting equation

Assets - Liabilities = Owner’s Equity

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Working capital ratio

current assets/current liabilities = ratio current assets:1

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debt ratio

(Total liabilities/total assets) x 100

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Selling price

cost price x (1+ mark-up/100)

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Quantity to be sold

total fixed costs + profit/selling price per unit-variable cost per unit

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How to calculate GST when GST is included

divide by 11

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How to caluclaye the price when GST is included

divide by 1.1

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how to calculate gst to be added to the item

multiply by 0.1

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net profit

revenue earned - expenses incurred