From the following information you are required to calculate (i) Sales; (ii) Sundry Debtors; (iii) Sundry Creditors; (iv) Closing stock;
|
Debtors velocity ratio |
3 months |
|
Stock velocity ratio |
6 months |
|
Creditors velocity ratio |
2 months |
|
Gross profit ratio |
25% |
The gross profit for the year ended 31st March 2011 was 5,00,000. Stock for the same period was 20,000 more than it was in the beginning of the year. Bills receivable and bills payable were Rs.1,50,000 and Rs.83,333 respectively.