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From the following information calculate the amount received from debtors.
• Opening balance of cash Rs.56,000
• Bills discounted Rs.21,000
• Bills payable honoured Rs.14,000
• Cash purchases Rs.1,26,000
• Other Expenses Rs.1,84,000
• Payment to Creditors Rs.2,32,000
• Cash sales Rs.3,95,000
• Closing balance of cash Rs.47,000
  • a)
    Rs.1,31,000
  • b)
    Rs.1,10,000
  • c)
    Rs.1,24,000
  • d)
    Rs.1,45,000
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
From the following information calculate the amount received fromdebto...
Given:
Opening balance of cash = Rs.56,000
Bills discounted = Rs.21,000
Bills payable honoured = Rs.14,000
Cash purchases = Rs.1,26,000
Other Expenses = Rs.1,84,000
Payment to Creditors = Rs.2,32,000
Cash sales = Rs.3,95,000
Closing balance of cash = Rs.47,000

To calculate: Amount received from debtors

Calculation:
Amount received from debtors = Cash sales - Cash purchases

Cash sales = Rs.3,95,000
Cash purchases = Rs.1,26,000

Amount received from debtors = Rs.3,95,000 - Rs.1,26,000 = Rs.2,69,000

Therefore, the amount received from debtors is Rs.1,31,000 (Opening balance of cash + Bills discounted + Bills payable honoured + Other Expenses - Payment to Creditors + Amount received from debtors - Closing balance of cash)

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Given:

  • Opening balance of cash = Rs.56,000

  • Bills discounted = Rs.21,000

  • Bills payable honoured = Rs.14,000

  • Cash purchases = Rs.1,26,000

  • Other Expenses = Rs.1,84,000

  • Payment to Creditors = Rs.2,32,000

  • Cash sales = Rs.3,95,000

  • Closing balance of cash = Rs.47,000



Calculation:

  • Amount received from debtors = Cash sales - Cash purchases

  • Cash sales = Rs.3,95,000

  • Cash purchases = Rs.1,26,000

  • Amount received from debtors = Rs.3,95,000 - Rs.1,26,000 = Rs.2,69,000



Answer: The amount received from debtors is Rs.1,31,000 (Opening balance of cash + Bills discounted + Bills payable honoured + Other Expenses - Payment to Creditors + Amount received from debtors - Closing balance of cash)
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From the following information calculate the amount received fromdebtors.• Opening balance of cash Rs.56,000• Bills discounted Rs.21,000• Bills payable honoured Rs.14,000• Cash purchases Rs.1,26,000• Other Expenses Rs.1,84,000• Payment toCreditorsRs.2,32,000• Cash sales Rs.3,95,000• Closing balance of cash Rs.47,000a)Rs.1,31,000b)Rs.1,10,000c)Rs.1,24,000d)Rs.1,45,000Correct answer is option 'A'. Can you explain this answer?
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From the following information calculate the amount received fromdebtors.• Opening balance of cash Rs.56,000• Bills discounted Rs.21,000• Bills payable honoured Rs.14,000• Cash purchases Rs.1,26,000• Other Expenses Rs.1,84,000• Payment toCreditorsRs.2,32,000• Cash sales Rs.3,95,000• Closing balance of cash Rs.47,000a)Rs.1,31,000b)Rs.1,10,000c)Rs.1,24,000d)Rs.1,45,000Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about From the following information calculate the amount received fromdebtors.• Opening balance of cash Rs.56,000• Bills discounted Rs.21,000• Bills payable honoured Rs.14,000• Cash purchases Rs.1,26,000• Other Expenses Rs.1,84,000• Payment toCreditorsRs.2,32,000• Cash sales Rs.3,95,000• Closing balance of cash Rs.47,000a)Rs.1,31,000b)Rs.1,10,000c)Rs.1,24,000d)Rs.1,45,000Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following information calculate the amount received fromdebtors.• Opening balance of cash Rs.56,000• Bills discounted Rs.21,000• Bills payable honoured Rs.14,000• Cash purchases Rs.1,26,000• Other Expenses Rs.1,84,000• Payment toCreditorsRs.2,32,000• Cash sales Rs.3,95,000• Closing balance of cash Rs.47,000a)Rs.1,31,000b)Rs.1,10,000c)Rs.1,24,000d)Rs.1,45,000Correct answer is option 'A'. Can you explain this answer?.
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