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Question 36 Chapter 7 - Unimax Publication Class 12 Part 2 - 2021
36. Calculate the amount of opening debtors and closing debtors from the following:
| Net Credit Sales | ₹ 1,80,000 |
| Debtor Turnover Ratio | 4 times |
| Closing debtors are two times in comparison to opening debtors |
|
(I) Debtor turnover ratio |
= | Net credit sales |
| average debtors |
|
Turnover ratio |
= | 1,80,000 |
| Average Debtors |
|
Average Debtors |
= | 1,80,000 |
| 4 |
| = | ₹ 45,000 | |
| Let opening debtors | = | x |
| Let closing debtors | = | 2x |
|
Average Debtors |
= | opening debtors+closing debtors |
| 2 |
|
45,000 |
= | x + 2x |
| 2 |
| 90,000 | = | 3x |
| x | = | ₹ 30,000 |
| Opening Debtors | = | x =2 x30,000 |
| Closing Debtors | = | 2x = 2x 30,000 |
| = | ₹60,000 Ans. |
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