In this problem available information is not enough to solve ratios asked so that need to...
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In this problem available information is not enough to solve ratios asked so that need to prepare Trading Account to identify values which are not given in the question. Compute sales amount, average inventory, cost of goods sold and current ratio. Particular To Opening Stock To Purchase: Cash: Credit: Less: P/R To Gross Profit 1,38,000 3,78,000 5,16,000 18,000 Trading Account Amount Rs. 96,000 4,98,000 1,50,000 7,44,000 Particular By Sales: Cash: 1,50,000 Credit: Less: S/R By Closing Stock 4.56.000 6,06,000 6,000 Amount Rs. 6,00,000 1,44,000 7,44,000 In this problem available information is not enough to solve ratios asked so that need to prepare Trading Account to identify values which are not given in the question. Compute sales amount, average inventory, cost of goods sold and current ratio. Particular To Opening Stock To Purchase: Cash: Credit: Less: P/R To Gross Profit 1,38,000 3,78,000 5,16,000 18,000 Trading Account Amount Rs. 96,000 4,98,000 1,50,000 7,44,000 Particular By Sales: Cash: 1,50,000 Credit: Less: S/R By Closing Stock 4.56.000 6,06,000 6,000 Amount Rs. 6,00,000 1,44,000 7,44,000
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1 Calculate Sales Amount Sales on credit Rs 456000 Sales for cash Rs 150000 Total Sales Amount Sale... View the full answer
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Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
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