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Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is Rs. 30,000 Cash sales is Rs. 20,000 which is 20% of total sales. B/R Received for Rs. 40,000 and discount allowed is 1% of cash collection.Find the closing debtors.
- a)Rs. 15,300
- b)Rs. 44,700
- c)Rs. 64,700
- d)Rs. 35,700
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is...
Given information:
- Opening balance of debtors = Rs. 35,000
- Cash received from debtors = Rs. 30,000
- Cash sales = Rs. 20,000 (which is 20% of total sales)
- B/R received for Rs. 40,000
- Discount allowed is 1% of cash collection
To find: Closing debtors
Calculation:
1. Calculation of total sales:
Cash sales = 20% of total sales
Therefore, total sales = (Cash sales/20%) x 100
Total sales = (20,000/20%) x 100 = Rs. 1,00,000
2. Calculation of total cash collected:
Cash received from debtors = Rs. 30,000
B/R received = Rs. 40,000
Total cash collected = Rs. 30,000 + Rs. 40,000 = Rs. 70,000
3. Calculation of discount allowed:
Discount allowed = 1% of cash collection
Discount allowed = 1% of Rs. 70,000 = Rs. 700
4. Calculation of total debtors:
Total debtors = Opening balance of debtors + Total sales - Cash received from debtors - Discount allowed
Total debtors = Rs. 35,000 + Rs. 1,00,000 - Rs. 30,000 - Rs. 700
Total debtors = Rs. 44,700
Therefore, the closing debtors are Rs. 44,700 (option B).
- Opening balance of debtors = Rs. 35,000
- Cash received from debtors = Rs. 30,000
- Cash sales = Rs. 20,000 (which is 20% of total sales)
- B/R received for Rs. 40,000
- Discount allowed is 1% of cash collection
To find: Closing debtors
Calculation:
1. Calculation of total sales:
Cash sales = 20% of total sales
Therefore, total sales = (Cash sales/20%) x 100
Total sales = (20,000/20%) x 100 = Rs. 1,00,000
2. Calculation of total cash collected:
Cash received from debtors = Rs. 30,000
B/R received = Rs. 40,000
Total cash collected = Rs. 30,000 + Rs. 40,000 = Rs. 70,000
3. Calculation of discount allowed:
Discount allowed = 1% of cash collection
Discount allowed = 1% of Rs. 70,000 = Rs. 700
4. Calculation of total debtors:
Total debtors = Opening balance of debtors + Total sales - Cash received from debtors - Discount allowed
Total debtors = Rs. 35,000 + Rs. 1,00,000 - Rs. 30,000 - Rs. 700
Total debtors = Rs. 44,700
Therefore, the closing debtors are Rs. 44,700 (option B).
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Community Answer
Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is...
Given:
Opening balance of debtors = Rs. 35,000
Cash Received from Debtors = Rs. 30,000
Cash sales = Rs. 20,000 (20% of total sales)
B/R Received = Rs. 40,000
Discount allowed = 1% of cash collection
To find:
Closing debtors
Solution:
1. Calculation of Total Sales:
Cash sales = Rs. 20,000 (20% of total sales)
20% of total sales = Rs. 20,000
Total sales = Rs. (20,000 x 100)/20 = Rs. 1,00,000
2. Calculation of Cash Collection:
Cash received from debtors = Rs. 30,000
B/R received = Rs. 40,000
Total cash collection = Rs. 30,000 + Rs. 40,000 = Rs. 70,000
3. Calculation of Discount allowed:
Discount allowed = 1% of cash collection
Discount allowed = (1/100) x Rs. 70,000 = Rs. 700
4. Calculation of Closing Debtors:
Total sales = Rs. 1,00,000
Cash sales = Rs. 20,000
Credit sales = Rs. 80,000
Total collection = Rs. 70,000
Discount allowed = Rs. 700
Net collection = Total collection - discount allowed = Rs. 69,300
Closing balance of debtors = Opening balance of debtors + Credit sales - Net collection
Closing balance of debtors = Rs. 35,000 + Rs. 80,000 - Rs. 69,300 = Rs. 44,700
Therefore, the closing debtors are Rs. 44,700. Option (b) is the correct answer.
Opening balance of debtors = Rs. 35,000
Cash Received from Debtors = Rs. 30,000
Cash sales = Rs. 20,000 (20% of total sales)
B/R Received = Rs. 40,000
Discount allowed = 1% of cash collection
To find:
Closing debtors
Solution:
1. Calculation of Total Sales:
Cash sales = Rs. 20,000 (20% of total sales)
20% of total sales = Rs. 20,000
Total sales = Rs. (20,000 x 100)/20 = Rs. 1,00,000
2. Calculation of Cash Collection:
Cash received from debtors = Rs. 30,000
B/R received = Rs. 40,000
Total cash collection = Rs. 30,000 + Rs. 40,000 = Rs. 70,000
3. Calculation of Discount allowed:
Discount allowed = 1% of cash collection
Discount allowed = (1/100) x Rs. 70,000 = Rs. 700
4. Calculation of Closing Debtors:
Total sales = Rs. 1,00,000
Cash sales = Rs. 20,000
Credit sales = Rs. 80,000
Total collection = Rs. 70,000
Discount allowed = Rs. 700
Net collection = Total collection - discount allowed = Rs. 69,300
Closing balance of debtors = Opening balance of debtors + Credit sales - Net collection
Closing balance of debtors = Rs. 35,000 + Rs. 80,000 - Rs. 69,300 = Rs. 44,700
Therefore, the closing debtors are Rs. 44,700. Option (b) is the correct answer.
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Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is Rs. 30,000 Cash sales is Rs. 20,000 which is 20% of total sales. B/R Received for Rs. 40,000 and discount allowed is 1% of cash collection.Find the closing debtors.a)Rs. 15,300b)Rs. 44,700c)Rs. 64,700d)Rs. 35,700Correct answer is option 'B'. Can you explain this answer?
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Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is Rs. 30,000 Cash sales is Rs. 20,000 which is 20% of total sales. B/R Received for Rs. 40,000 and discount allowed is 1% of cash collection.Find the closing debtors.a)Rs. 15,300b)Rs. 44,700c)Rs. 64,700d)Rs. 35,700Correct answer is option 'B'. 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 Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is Rs. 30,000 Cash sales is Rs. 20,000 which is 20% of total sales. B/R Received for Rs. 40,000 and discount allowed is 1% of cash collection.Find the closing debtors.a)Rs. 15,300b)Rs. 44,700c)Rs. 64,700d)Rs. 35,700Correct answer is option 'B'. 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 Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is Rs. 30,000 Cash sales is Rs. 20,000 which is 20% of total sales. B/R Received for Rs. 40,000 and discount allowed is 1% of cash collection.Find the closing debtors.a)Rs. 15,300b)Rs. 44,700c)Rs. 64,700d)Rs. 35,700Correct answer is option 'B'. Can you explain this answer?.
Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is Rs. 30,000 Cash sales is Rs. 20,000 which is 20% of total sales. B/R Received for Rs. 40,000 and discount allowed is 1% of cash collection.Find the closing debtors.a)Rs. 15,300b)Rs. 44,700c)Rs. 64,700d)Rs. 35,700Correct answer is option 'B'. 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 Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is Rs. 30,000 Cash sales is Rs. 20,000 which is 20% of total sales. B/R Received for Rs. 40,000 and discount allowed is 1% of cash collection.Find the closing debtors.a)Rs. 15,300b)Rs. 44,700c)Rs. 64,700d)Rs. 35,700Correct answer is option 'B'. 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 Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is Rs. 30,000 Cash sales is Rs. 20,000 which is 20% of total sales. B/R Received for Rs. 40,000 and discount allowed is 1% of cash collection.Find the closing debtors.a)Rs. 15,300b)Rs. 44,700c)Rs. 64,700d)Rs. 35,700Correct answer is option 'B'. Can you explain this answer?.
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Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is Rs. 30,000 Cash sales is Rs. 20,000 which is 20% of total sales. B/R Received for Rs. 40,000 and discount allowed is 1% of cash collection.Find the closing debtors.a)Rs. 15,300b)Rs. 44,700c)Rs. 64,700d)Rs. 35,700Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is Rs. 30,000 Cash sales is Rs. 20,000 which is 20% of total sales. B/R Received for Rs. 40,000 and discount allowed is 1% of cash collection.Find the closing debtors.a)Rs. 15,300b)Rs. 44,700c)Rs. 64,700d)Rs. 35,700Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is Rs. 30,000 Cash sales is Rs. 20,000 which is 20% of total sales. B/R Received for Rs. 40,000 and discount allowed is 1% of cash collection.Find the closing debtors.a)Rs. 15,300b)Rs. 44,700c)Rs. 64,700d)Rs. 35,700Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Opening balance of debtors is Rs. 35,000 Cash Received from Debtors is Rs. 30,000 Cash sales is Rs. 20,000 which is 20% of total sales. B/R Received for Rs. 40,000 and discount allowed is 1% of cash collection.Find the closing debtors.a)Rs. 15,300b)Rs. 44,700c)Rs. 64,700d)Rs. 35,700Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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