Q55

Following are the ratios relating to the trading Activities of X Ltd: Debtors Velocity 3 months Stock Velocity 8 months Creditors Velocity 2 months Gross Profit Ratio 25% Gross Profit for the year ended 31st March, 2004 amounted to $ 4,00,000. Closing Stock of the year is $10,000 above the opening stock. Bills Receivable amounted to $ 25,000 and Bills Payable amounted to $ 10,000. Find Out: (a) Sales, (b) Sundry Debtors