please explain briefly about account receivables and
payables
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Answer / priyul
Account Receivables means sundry debtors.
Account Payable means sundry creditors.
Account Receivables : We have sold some goods & payment is
outstanding.
Accounts Payable : We have purchased goods & we have not
made payment yet.
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Answer / ravi ahuja
Accounts payable is the obligation that a business owes to
its creditors for buying goods or services. It is the
unpaid invoices, bills, or statements for goods or services
rendered by outside contractors, vendors or suppliers.
Accounts payable are sometimes referred to as "payables."
When someone pays his or her monthly utility, phone, cable
tv bills, or Internet service provider (ISP) bills, he or
she is in a sense paying off his or her accounts payable
obligations.
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The following figures relate to the trading activities of M/s ABC Traders Ltd for the year ending 31 March 2004. Particulars Amount (Rs) Sales 5,20,000 Opening stock 76,250 Purchases 3,22,250 Closing stock 98,500 Sales return 20,000 Selling and Distribution Expenses Salaries 15,300 Advertising 4,700 Travelling 2,000 Administrative Expenses Salaries 27,000 Rent 2,700 Stationery 2,500 Depreciation 9,300 Other charges 16,500 Provision for tax 4,000 Non Operating Income Dividend on shares 9,000 Profit on sales of shares 3,000 Non Operating Expenses Loss on sale of fixed asset 4,000 You are required to: (i) Arrange the above figures in a form suitable for analysis. (ii) Show separately the following ratios. Net profit ratio Operating ratio Stock turnover ratio
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