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.
Answers
Answered by
8
Answer:
4 times
Step-by-step explanation:
Average accounts payable = (Rs. 4,00,000 + Rs. 2,00,000)/2
= Rs. 3,00,000
Credit turnover ratio = Net credit purchases/Average accounts payable
= Rs. 12,00,000/Rs. 3,00,000
= 4 Times
please mark me as brainliest
Answered by
2
Answer:
4 times
Step-by-step explanation:
please mark me as brainliest
Similar questions