Ascertainment Of Credit Sales

Ascertaining Credit Purchases

Credit revenue from operation i.e net credit sales for the year

Calculate trade receivables trunover ratio and average collection period: Credit revenue from operations (Net Credit sales ) for the year is Rs 600000 and debtors and bills receivable at the year end were Rs 60000 and 40000 respectively.

Ascertainment Of Bill Receivable And Bills Payable

Ascertainment Of Missing Information Through Summary Of Cash

Rectify the following errors and ascertain the amount of difference in trial balance by preparing suspense account: (a) Credit sales to Mohan 7,000 were posted as  9,000. (b) Credit purchases from Rohan 9,000 were posted as  6,000. (c) Goods returned to Rakesh 4,000 were posted as 5,000. (d) Goods returned from Mahesh 1,000 were posted as 3,000. (e) Cash sales  2,000 were posted as 200.

Rectify the following errors and ascertain the amount of difference in trial balance by preparing suspense account: (a) Credit sales to Mohan 7,000 were not posted. (b) Credit purchases from Rohan 9,000 were not posted. (c) Goods returned to Rakesh 4,000 were not posted. (d) Goods returned from Mahesh 1,000 were not posted. (e) Cash paid to Ganesh  3,000 was not posted. (f) Cash sales 2,000 were not posted.

From the information given below calculate trade receivables trunover ratio: credit revenue from operation i.e credit sales Rs 800000, opening tarde receivables Rs 120000, and closing trade receivable rs 200000. state giving reason which of the following would increase , decrease or not change trade receivables trunover ratio: (i) collection from trade receivables Rs 40000 (ii) Credit revenue from operations i.e credit sales Rs 80000 (iii) sales return Rs 20000 (iv) credit purchase Rs 160000.

Ascertaining Of Cash Flow From Investing And Financial Activities

Terms Of Credit|Variety Of Credit Arrangements|OMR|Summary