A business furnishes you with the following details: A year may be taken to be of 360
Question:
A business furnishes you with the following details:
A year may be taken to be of 360 days. You are asked to:
(i) Work out inventories turnover and debtors turnover ratios;
(ii) calculate the operating cycle and state its significance.
Transcribed Image Text:
(i) Opening Inventories (ii) Closing Inventories (iii) Sales: Credit Cash (iv) Gross Profit (v) Year end Debtors Less: Provision for Bad Debts (vi) Year end Bills Receivable 20,000 2,000 50,000 70,000 2,10,000 1,50,000 60,000 18,000 15,000
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i Inventories Turnover Ratio Inventories Turnover Ratio Cost of Goods Sold Average Inventories Cost of Goods Sold COGS Sales Gross Profit 210000 15000...View the full answer
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Related Book For
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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