Bayt.com

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

A Corp net A/c Rec 850,000 in 2001 & 1,150,000 in 2002. Net cash sales in 2002, 3,300,000. The A/c R turnover ratio in 2002 was 16. Net sales in 2002?

a.12,800,000

 

b.16,000,000

 

c.16,100,000

 

 d.19,300,000

Financial Accounting Sales
user-image
Question added by Ajay Dutt , Senior Accountant , Concept Zone Group of Companies
Date Posted: 2015/06/26
Upvote (0) Views (5) Followers (2) Answers (2) Report Question
Write an Answer
Register now or log in to answer.
Muhammad Kassab CPA CMA CertIFR
by Muhammad Kassab CPA CMA CertIFR , Accounting Manager , Marine Buildings Landmarks

Credit sales = average A/R × A/R turnover Then credit sales = 16 M Net sales for 2002 = 16M + 3.3 M = 19.3 M

Tranquilino Jr Rivera
by Tranquilino Jr Rivera , General Accountant , Enany Group of Companies

Answer is16M. Option B is the answer.

Write Your Answer
More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.

Get Help