Question
Explain the importance of analysing Financial Statements through Ratios. ii) Albert Ltd sells goods on cash as well as credit. The following particulars are extracted
Explain the importance of analysing Financial Statements through Ratios.
ii) Albert Ltd sells goods on cash as well as credit. The following particulars are extracted from their books of account.
Total Gross sales $100,000
Cash sales (included in above) $ 20,000
Sales returns $ 7,000
Accounts Receivable $ 11,000
Accounts Payable $ 10,000
Calculate : Accounts Receivable Turnover and Average Collection period ratio
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Accounting for Non-Accounting Students
Authors: John R. Dyson
8th Edition
273722972, 978-0273722977
