Compute the amount of total purchases and total sales of Mr. Amit from the following information for
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Compute the amount of total purchases and total sales of Mr. Amit from the following information for the year ending on March 31,2005.
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Total debtors as on April 01, 2004 Total creditors as on April 01, 2004 Bills receivable as on April 01, 2004 Bills payable as on April 01, 2004 Discount received Bad debts Return inwards Discount allowed Cash sales Cash purchases Total debtors as on March 31, 2005 Cash received from debtors Cash paid to creditors Cash received against bills receivable Payment made against bills receivable Total creditors as on March 31, 2005 Bills payable as on March 31, 2005 Bills receivable as on March 31, 2005 Amount Rs. 40,000 50,000 30,000 45,000 5,000 2,000 4,000 3,000 10,000 8,000 80,000 1,00,000 80,000 25,000 40,000 40,000 50,000 35,000
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i Credit purchases have been computed from total creditors account as Rs 1200002 Cash purchases give...View the full answer
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