Question

a) Average stock of a firm is Rs 40000.its opening stock is Rs 5000 less than the closing

stock. Calculate opening and closing stock amounts.

b) Difference between Current Ratio and Liquid Ratio?

c) Calculate Creditors Turnover Ratio and Average Payment Period/ Average age of creditors

from the following data:

Credit Purchases Rs 300000, Creditors at the beginning Rs 20000, Bills Payable at the

beginning Rs 8000, Creditors at the End Rs 12000, Bills Payable at the end Rs20000 and

reserve for discount on creditors Rs 10000.​

Answer 1

Answer:

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