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Should you add sundry creditors and sundry debtors in total stock in trade?
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How is drawing power calculated?
Sundry debtors+stock in hand-sundry creditors only ninty days only * 75% = answer this is the drawing power of a company
How to calculate DP ratio?
Stock+debtors-creditors/sale
What are the components of current assets?
The components of current assets are creditors, cash, debtors and stock.
What are the assets?
debtors,stock,bills receivable etc
Which are the most important accounting ratios and indicators?
Gross Profit Margin:(Gross Profit / Sales) x 100 = ______%Net Profit Margin:(Net Profit / Sales) x 100 = _____%Stock Turnover RatioCost of Goods Sold / Average Stock = ______ timesCost of Goods Sold = Sales - Gross ProfitAverage Stock = Opening Stock + Closing Stock / 2If opening stock is not given treat closing stock as opening stockDebtor Collection Period(Debtors / Sales) x 365 = ______ daysCreditor Payment Period(Creditors / Purchases) x 365 = _________daysReturn on Capital Employed(Net Profit / Capital) x 100 = _________%Current RatioCurrent Assets / Current Liabilities = ____:____Quick Ratio/Acid Test RatioCurrent Assets - Stock / Current LiabilitiesCurrent Assets = Cash/Bank + Debtors + PrepaymentsCurrent Liabilities = Creditors + Overdrafts Accruals
Are revenue and expense accounts real accounts?
No real accounts are for business possessions like assets and stock revenue and expense items are recorded in the nominal also named the general ledger. Personal accounts are for debtors and creditors accounts.
What are the current assets?
debtors,stock,bills receivable etc
How you record a credit sales?
credit your stock for stocks going out of the account debit the debtors for stock going into his account
What is SnapAccounting?
SnapAccounting was written by Joe Schoemann Computers in Johannesburg, RSA in the early 1980's It was written in dBase3 and was one of the earliest shrink-wrapped accounting packages. There were SnapAccounting modules for Debtors, Creditors and Stock. Special customized version existed for garages and butchers.
What are the five types of accounts in accounting?
The five types of accounts are: * Assets - for example debtors or stock * Liabiltiies - for example creditors or loans * Income - for example sales * Expenditure - for example salaries * Memo accounts- these hold non financial information, for example employee numbers
What is trade creditors?
Trade creditors are the person's who lend for business or stock market. There are also weekly and daily loans in India.
Under stock and debtors system branch profit is ascertained by opening?
branch P/L a/c
