who is debtor and creditor?
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Answer / aisha nadeem
Debtor: the person from whom the buisness have to receive
the money or we can say purchaser.
Creditor: the person to whom the buisness have to pay the
maoney or we can say supplier from whom the buisness
purchse materials on credits.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / kavita
Debtors: Debtors are also called Customers. when we sale
material on credit to party, than they call our debtors.
Creditors: Creditors are also called Supplier. When we
purchase material on credit from party than they called our
suppliers.
| Is This Answer Correct ? | 4 Yes | 4 No |
Answer / lokesh reddy
Y not to say debtor is asset
Creaditor is a liability
| Is This Answer Correct ? | 0 Yes | 0 No |
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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