From the following information, Calculate Opening and Closing Trade Payables: Cash Purchases 25% of Total Purchases; Revenue from Operations ₹ 3,00,000
From the following information, Calculate Opening and Closing Trade Payables:
Cash Purchases 25% of Total Purchases; Revenue from Operations ₹ 3,00,000; Gross Profit 25% on Revenue from Operations; Opening Inventory ₹ 75,000; Closing Inventory ₹ 1,50,000; Trade Payables Turnover Ratio 3 Times; Closing Trade Payables were ₹ 75,000 in excess of Opening Trade Payables.
[Ans.: Opening Trade Payables ₹ 37,500; Closing Trade Payables ₹ 1,12,500.]
Anurag Pathak Changed status to publish August 15, 2023
