From the following information calculate the amount to be paid to creditors: Sundry creditors as on March
Question:
From the following information calculate the amount to be paid to creditors:
Transcribed Image Text:
Sundry creditors as on March 31, 2005 Discount received Discount allowed Return outwards Return inward Bills accepted Bills endorsed to creditors Creditors as on April 01, 2006 Total purchases Cash purchases Rs. 1,80,425 26,000 24,000 37,200 32,200 1,99,000 26,000 2,09,050 8,97,000 1,40,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
answer To calculate the amount to be paid to creditors we can start with the opening balance of sundry creditors as on March 31 2005 and then consider ...View the full answer
Answered By
Joram mutua
I am that writer who gives his best for my student/client. Anything i do, i give my best. I have tutored for the last five years and non of my student has ever failed, they all come back thanking me for the best grades. I have a degree in economics, but i have written academic papers for various disciplines due to top-notch research Skills.In additional, I am a professional copywriter and proofreader.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Compute the amount of total purchases and total sales of Mr. Amit from the following information for the year ending on March 31,2005. Total debtors as on April 01, 2004 Total creditors as on April...
-
1.2.1 The format recommended by the International Financial Reporting Standards for the preparation of a statement of profit or loss and other comprehensive income calculates and shows the gross...
-
Given a risk-adjusted discount rate of 14%, calculate the discounted payback period for the following cash flow of a project. If the maximum target discounted payback period is 3 years, comment on...
-
What are the three general categories under which the majority of wage incentive plans may be classified?
-
Repeat Problem 6.5 for a Mealy-type FSM. Data From Problem 6.5. Derive a minimal state table for a single-input and single-output Moore-type FSM that produces an output of 1 if in the input sequence...
-
The study recorded whether participants were female or male \((S e x=F\) or M), and we see that 33 of the 165 females and 42 of the 99 males allowed the pressure to reach its maximum level of \(300...
-
Both a call and a put currently are traded on stock XYZ; both have strike prices of $50 and expirations of 6 months. What will be the profit to an investor who buys the call for $4 in the following...
-
You are approached to comment on a company's accounting disclosure quality. As an accounting analyst, what are the factors will you consider in your assessment and why?
-
From the following information calculate total purchases. Creditors Jan. 01, 2005 Creditors Dec. 31, 2005 Opening balance of Bills payable Closing balance of Bills payable Cash paid to creditors...
-
Find out the credit purchases from the following: Balance of creditors April 01, 2004 Balance of creditors March 31, 2005 Cash paid to creditors Cheque issued to creditors Cash purchases Discount...
-
Find the critical points of the function. Then use the Second Derivative Test to determine whether they are local minima, local maxima, or saddle points (or state that the test fails). f(x,y) = (x -...
-
Define clustering, make sure to provide at least two scholarly and peer-reviewed journal or book references as support. Use APA citation, Do a little digging. Make sure to explain the following...
-
Briefly describe the popular culture example. A definite television show episode that I liked was based on the MEN Who Built America, people like CorneliusVanderbilt, John D Rockefeller, Andrew...
-
While change is inevitable in most organizations, there is a difference between change that is superficial and embedded sustaining change. Explain in detail the processes for successfully...
-
Identify possible repercussions as related to the special education department. What legal issues must be considered as related to the removal of special education paraprofessionals as well as the...
-
Review the mean, standard deviation, and 5-number summary of the trainees' exam scores below. You can also review the individual exam scores and functions used to calculate the descriptive analyses...
-
Dousman Company reports the following total costs at two levels of production. Classify each cost as variable, fixed, ormixed. 5,000 Units 10,000 Unis Indirect labor Property taxes Direct labor...
-
Cornell and Roberts are partners who agree to admit Stanley to their partnership. Cornell has a capital balance of $80,000 and Roberts has a capital balance of $120,000. Cornell and Roberts share net...
-
On reviewing the financial statements, the companys accountant notices that the capitalization issue of 1 for 5 ordinary shares made by the company in December Year 2 has not been reflected in the...
-
Which of the following is a correct description of the term share option? (a) Provides a person with the right to buy shares in a company at a future date at an agreed fixed price. (b) Name given to...
-
Which of the following is an accurate statement regarding dividends? (a) A company must declare an ordinary dividend if it makes a profit in an accounting period. (b) The directors of a company have...
-
Please solve it correctly and completely. Question-3: A soil profile is shown in Figure 3.1. If a uniformly distributed load, A, is applied at the ground surface, calculate the settlement of the...
-
Explain the Mohr-Columb Theory for the c- soil [your own words].(geotechnical engineering subject)
-
Can you explain how drilling and sampling are important in geotechnical engineering?
Study smarter with the SolutionInn App