Question 36 Chapter 7 – Unimax Publication Class 12 Part 2 – 2021
Table of Contents
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 |
The solution of Question 36 Chapter 7 – Unimax Publication Class 12 Part 2-2021 : –
|
(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 |
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|
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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Accounting Ratios – Meaning and Definition
Unimax Publication – Accountancy PSEB Class 12 – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Change in Profit sharing ratio among Existing Partners )
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Unimax Publication – Accountancy PSEB (Class 12) – Part – II – Solution
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Company Accounts (Issue of Debentures)
- Chapter No. 3 – Company Accounts (Redemption of Debentures)
- Chapter No. 4 – Financial Statements of a Company
- Chapter No. 5 – Financial Statement Analysis
- Chapter No. 6 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
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