Given the following data; TOTAL PURCHASES 150000 CASH PURCHASES 45000 PURCHASE RETURN 5000OPENING CREDITORS 30000 CLOSING CREDITORS 20000 What will be the Creditors Turnover Ratio (TOR)?O a. 3O b.6O.8O d. 4

Name: Given the following data; TOTAL PURCHASES 150000 CASH PURCHASES 45000
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Description: Given the following data; TOTAL PURCHASES 150000 CASH PURCHASES 45000 PURCHASE RETURN 5000OPENING CREDITORS 30000 CLOSING CREDITORS 20000 What will be the Creditors Turnover Ratio (TOR)?O a. 3O b.6O.8O d. 4

Creditors turnover ratio = net credit purchase * 2 / (Opening creditors + Closing creditors)

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Given the following data; TOTAL PURCHASES 150000 CASH PURCHASES 45000 PURCHASE RETURN S000 OPENING CREDITORS 30000 CLOSING CREDITORS 20000 What will be the Creditors Turmover Ratio (TOR)? O a. 3 O b.6 Oc8 O d.4

Given the following data; TOTAL PURCHASES 150000 CASH PURCHASES 45000 PURCHASE RETURN S000 OPENING CREDITORS 30000 CLOSING CREDITORS 20000 What will be the Creditors Turmover Ratio (TOR)? O a. 3 O b.6 Oc8 O d.4

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 2QY: What is the entry to record the cash received on a sale of 500, credit terms 1/15, n/30, if the...

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OkyOTcw/a/MjUwNDEyNDM20TEx/details Particulars Credit (RM) 48,400 Debit (RM) Capital Drawings Trade receivables Trade payables Sales Purchases Sales returns Purchases retums Wages and salaries Discounts allowed Discounts received Provision for doubtful debts Insurance Inventory as at 1 September 2018 Utilities 3,500 9,000 12,500 40,400 31,000 300 250 5,600 120 200 300 700 2,400 950 350 10,000 3,000 20,000 Rates Premises Fixtures and fittings Motor van Cash in hand Cash at bank TOTAL 330 14,800 102.050 102.050 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. iii. The provision for doubtful debts is 1% of the outstanding trade receivables. iv. The owner took RM100 worth of goods from the business for his own use Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year…