Answer Posted / lokesh reddy
Y not to say debtor is asset
Creaditor is a liability
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
What is recording damage inventory in books of account?
What are mis reports and do you prepare it?
how to enter the tender refund amount in tally ?
What is royalty reserve?
what is bank aceleted?
in tally software payroll vouchers option is there for what purpose it is used ? please tell me friends.
Explain which account is responsible for interest payable?
Tell me the meaning of long-term notes payable is or long term liabilities?
What's the accounting entry when an Invoice is created in AR?
Recall a time when you faced a dissatisfied and aggressive customer. How did you handle it?
The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.
what is revenue recognition rule, and can you specify the answer.
what are voucher entries for EPF treatment in tally
What steps would you take to locate the errors in case trial balance disagrees?
what are the limitations of accounting ratios?