Question
The following are the ratios relating to the activities of Technopak Limited: Debtors Velocity Stock Velocity Creditors Velocity Gross Profit Ratio 3 months 8
The following are the ratios relating to the activities of Technopak Limited: Debtors Velocity Stock Velocity Creditors Velocity Gross Profit Ratio 3 months 8 months 2 months 25 per cent Gross profit for the current year ended December 31 amounts to 4,00,000. Closing stock of the year is 10,000 above the opening stock. Bills receivables amount to 25,000 and bills payable to 10,000. Calculate: (a) Sales, (b) Sundry Debtors, (c) Sundry Creditors.
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
3rd edition
9781337909402, 978-1337788281
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