The following are the ratios relating to the activities of National Traders Ltd: Gross profit for the

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The following are the ratios relating to the activities of National Traders Ltd: image text in transcribed

Gross profit for the current year ended December 31 amounts to ₹4,00,000. Closing stock of the year is ₹10,000 above the opening stock. Bills receivable amount to ₹25,000 and bills payable to ₹10,000.
Find out:

(a) Sales,

(b) Sundry debtors,

(c) Closing stock, and

(d) Sundry creditors.

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Management Accounting Text Problems And Cases

ISBN: 9781259026683

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The following are the ratios relating to the activities of National Traders Ltd: Gross profit for the

Question:

Debtors velocity (months) Stock velocity (months) Creditors velocity (months) Gross profit ratio (%) 3822 25

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400000 a Determination of sales Sales x 100 1600000 25 b Determination of sundry debtors Debtors vel...View the full answer

Management Accounting Text Problems And Cases

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