Solution-Find out the profit and compute the debtors

Find out the profit and compute the debtors turnover ratio

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Reference no: EM132548600

Question 1: Average stock carried by a trader is Rs. 60,000 stock turnover ratio is 10 times. Goods are sold at a profit of 10% on cost. Find out the profit.

Question 2: Also, compute the debtors turnover ratio:

Year I Rs. Year II Rs.

Gross sales 9,50,000 8,00,000

Sales returns 50,000 50,000

Debtors in the beginning of year 86,000 1,17,000

Debtors at the end 1,17,000 86,000

Provision for doubtful debts 7,000 6,000.

Reference no: EM132548600

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Find out the profit and compute the debtors turnover ratio

Reference no: EM132548600

Reference no: EM132548600

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