From the following information ascertain the opening balance of sundry

1.	From the following information ascertain the opening balance of sundry debtors and closing balance of sundry creditors: Rs.Opening stock30,000Closing stock25,000Opening creditors50,000Closing debtors75,000Discount allowed by creditors1,500Discount allowed by customers2,500Cash paid to creditors1,35,000Bills payable accepted during the period30,000Bills receivable received during the period75,000Cash received from customers2,20,000Bills receivable dishonoured3,500Purchases2,95,000 The rate of gross profit is 25% on selling price and out of the total sales Rs.85,000 was for cash sales.
Answer» From the following information ascertain the opening balance of sundry debtors and closing balance of sundry creditors: $\begin{matrix} Rs. Opening stock & 30, 000 Closing stock & 25, 000 Opening creditors & 50, 000 Closing debtors & 75, 000 Discount allowed by creditors & 1, 500 Discount allowed by customers & 2, 500 Cash paid to creditors & 1, 35, 000 Bills payable accepted during the period & 30, 000 Bills receivable received during the period & 75, 000 Cash received from customers & 2, 20, 000 Bills receivable dishonoured & 3, 500 Purchases & 2, 95, 000 \end{matrix}$ The rate of gross profit is 25% on selling price and out of the total sales Rs.85,000 was for cash sales.

From the following information ascertain the opening balance of sundry debtors and closing balance of sundry creditors: Rs.Opening stock30,000Closing stock25,000Opening creditors50,000Closing debtors75,000Discount allowed by creditors1,500Discount allowed by customers2,500Cash paid to creditors1,35,000Bills payable accepted during the period30,000Bills receivable received during the period75,000Cash received from customers2,20,000Bills receivable dishonoured3,500Purchases2,95,000 The rate of gross profit is 25% on selling price and out of the total sales Rs.85,000 was for cash sales.

Answer»

From the following information ascertain the opening balance of sundry debtors and closing balance of sundry creditors:

$\begin{matrix} Rs. Opening stock & 30, 000 Closing stock & 25, 000 Opening creditors & 50, 000 Closing debtors & 75, 000 Discount allowed by creditors & 1, 500 Discount allowed by customers & 2, 500 Cash paid to creditors & 1, 35, 000 Bills payable accepted during the period & 30, 000 Bills receivable received during the period & 75, 000 Cash received from customers & 2, 20, 000 Bills receivable dishonoured & 3, 500 Purchases & 2, 95, 000 \end{matrix}$

The rate of gross profit is 25% on selling price and out of the total sales Rs.85,000 was for cash sales.

Discussion

No Comment Found

Related InterviewSolutions

Reply to Comment