the total of a firm id a rs.6.4 lakh.he has gross profit
margin 15% curre ratio of rs.2.5 the firm current libility
is rs.96000,inventry, rs.48000 and cash rs 16000. determine
the average inventry of firm iss 5 times determine the avg
collectin period of opening balance.
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1. A firm buys stock for $100 by cheque and intends to sell it for $200, so the double entry should be a) Debit bank $100 and credit stock $ 100 b) Credit bank $ 200 and debit stock $ 200 c) Debit purchases $100 and credit sales $ 200 d) Debit purchases $ 100 and credit bank $ 100
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