Subject: Financial Accounting.

(PLEASE TRY TO GIVE MORE POINTS ITS FOR 15 MARKS) THANK YOU.

3b) The following are the ratio relating to the activities of National Traders LLC: (15 marks)

Debtors velocity 4 months

Stock velocity 6 months

Creditors velocity 3 months

Gross profit ratio 50%

Gross profit of the current year ended 31st December amount to AED. 400,000. Closing stock of the year is AED. 7500 above the opening stock. Bills receivables amount to AED.25000 and bills payable to AED 10,000. Cash Sales of the company was AED 25000. Find out:

(a) Credit Sales

(b) Sundry debtors

(c) Closing stock

(d) Sundry creditors.

(e) Cost of Goods sold