The following is the financial information of a firm: Total Assets (Including Preliminary Expenses) Opening Inventory Closing Inventory Days in a year Gross Profit
The following is the financial information of a firm: Total Assets (Including Preliminary Expenses) Opening Inventory Closing Inventory Days in a year Gross Profit (20% of Sales) Average Collection Period Required: 1. Amount of Sales 2. Amount of Debtors 3. Total Asset Turnover Ratio 4. Inventory Turnover Ratio Rs. 2,40,000 Rs. 80,000 Rs. 40,000 360 days Rs. 120,000 36 days
Step by Step Solution
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Step: 1
Answer Lets calculate each required value step by step Amount of Sales Given that Gross Profit is 20 of Sales and Gross Profit is Rs 120000 we can cal...
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Step: 2
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Authors: Barry Elliott, Jamie Elliott
14th Edition
978-0273744535, 273744445, 273744534, 978-0273744443
