Question
From the following information, find out (a) sales (b) closing stock, (c) sundry Debtors and (d) sundry Creditors. Gross profit ratio25 percent Debtors Turnover ratio
From the following information, find out (a) sales (b) closing stock, (c) sundry Debtors and (d) sundry Creditors.
Gross profit ratio25 percent
Debtors Turnover ratio 4 months
Stock turnover ratio 4 times
Creditors turnover ratio 6 months
Closing stock Rs. 10,000 more than the opening stock. Bills receivable amount to Rs. 65,000, and bills payable to Rs, 80,000. Cost of goods sold for the year is Rs. 1200,000.
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
