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प्रश्न
A limited company made Credit Sales of ₹ 4,00,000 during the financial period. If the collection period is 36 days and the year is assumed to be 360 days, calculate:
- Trade Receivables Turnover Ratio;
- Average Trade Receivables;
- Trade Receivables at the end when Trade Receivables at the end are more than that in the beginning by ₹ 6,000.
उत्तर
i) Debt collection period = 36 days
Debt collection period = `(360 "days")/"Trade Receivables turnover ratio"`
36 = `(360 "days")/"Trade Receivables turnover ratio"`
Trade Receivables turnover ratio = `360/36`
Trade receivables turnover ratio = 10 times
ii) Debtors turnover ratio = `"Credit sales"/"Average trade receivable"`
`10 = 400000/"Average trade receivable"`
Average trade receivable = `400000/10`
Average trade receivable = 40000
iii) Let opening trade receivable be x.
Closing trade receivable = x + 6000
Average trade receivable = `("Opening receivable" + "Closing receivable")/2`
`40000 = (x + x + 6000)/2`
80000 = 2x + 6000
`(80000 - 6000)/2` = x
x = 37000
Opening trade receivable = x = 37000
Closing trade receivable = x + 6000 = 37000 + 6000 = 43000
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संबंधित प्रश्न
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From the following Statement of Profit and Loss for the year ended 31st March, 2019 of Rex Ltd., calculate Inventory Turnover Ratio:
STATEMENT OF PROFIT AND LOSS
for the year ended 31st March, 2019
|
Particulars |
Note No. |
Amount (₹) |
| I. Revenue from Operations (Net Sales) |
6,00,000 |
|
| II. Expenses: | ||
|
(a) Purchases of Stock-in-Trade |
3,00,000 |
|
|
(b) Change in Inventory of Stock-in-Trade |
1 |
50,000 |
|
(c) Employees Benefit Expenses |
60,000 |
|
|
(d) Other Expenses |
2 |
45,000 |
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4,55,000 |
|
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1,45,000 |
|
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45,000 |
|
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1,00,000 |
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|
Particulars |
Amount (₹) |
| I. Change in Inventory of stock-in-Trade | |
|
Opening Inventory |
1,25,000 |
|
Less: Closing Inventory |
75,000 |
|
50,000 |
|
| 2. Other Expenses | |
|
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15,000 |
|
Miscellaneous Expenses |
30,000 |
|
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|
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| ₹ | ₹ | |||
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