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प्रश्न
From the following information, calculate the opening and Closing Trade Payables:
Cash Purchases 25% of Total Purchases; Revenue from Operations ₹ 3,00,000; Gross Profit 25% on Revenue from Operations; Opening Inventory ₹ 75,000; Closing Inventory ₹ 1,50,000; Trade Payables Turnover Ratio 3 Times; Closing Trade Payables were ₹ 75,000 in excess of Opening Trade Payables.
Hints:
1. Cost of Revenue from Operations = ₹ 2,25,000.
2. Total Purchases = Cost of Revenue from Operations + Closing Inventory − Opening Inventory
= ₹ 2,25,000 + ₹ 1,50,000 − ₹ 75,000
= ₹ 3,00,000
3. Net Credit Purchases = Total Purchases − Cash Purchases
= ₹ 3,00,000 − ₹ 75,000
= ₹ 2,25,000
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उत्तर
Calculation of Cost of Revenue from Operations:
\[\text{Gross Profit} = 25\% \text{ of } ₹ 3,00,000 = ₹ 75,000\]
$$\text{Cost of Revenue from Operations} = \text{Revenue from Operations} - \text{Gross Profit}$$
$$\text{Cost of Revenue from Operations} = ₹ 3,00,000 - ₹ 75,000$$
$${\text{Cost of Revenue from Operations} = ₹ 2,25,000}$$
Calculation of Total Purchases:
$$\text{Cost of Revenue from Operations} = \text{Opening Inventory} + \text{Total Purchases} - \text{Closing Inventory}$$
$$2,25,000 = 75,000 + \text{Total Purchases} - 1,50,000$$
$$2,25,000 = \text{Total Purchases} - 75,000$$
$$\text{Total Purchases} = 2,25,000 + 75,000$$
$${\text{Total Purchases} = ₹ 3,00,000}$$
Calculation of Net Credit Purchases:
$$\text{Cash Purchases} = 25\% \text{ of } ₹ 3,00,000 = ₹ 75,000$$
$$\text{Net Credit Purchases} = \text{Total Purchases} - \text{Cash Purchases}$$
$$\text{Net Credit Purchases} = ₹ 3,00,000 - ₹ 75,000$$
$${\text{Net Credit Purchases} = ₹ 2,25,000}$$
Calculation of Average Trade Payables:
$$\text{Trade Payables Turnover Ratio} = \frac{\text{Net Credit Purchases}}{\text{Average Trade Payables}}$$
$$3 = \frac{2,25,000}{\text{Average Trade Payables}}$$
$$\text{Average Trade Payables} = \frac{2,25,000}{3}$$
$${\text{Average Trade Payables} = ₹ 75,000}$$
Calculation of Opening and Closing Trade Payables:
Let Opening Trade Payables be $x$.
Therefore, Closing Trade Payables = $x + 75,000$
$$\text{Average Trade Payables} = \frac{\text{Opening Trade Payables} + \text{Closing Trade Payables}}{2}$$
$$75,000 = \frac{x + (x + 75,000)}{2}$$
$$75,000 \times 2 = 2x + 75,000$$
$$1,50,000 = 2x + 75,000$$
$$2x = 1,50,000 - 75,000$$
$$2x = 75,000$$
$$x = \frac{75,000}{2}$$
$${\text{Opening Trade Payables } (x) = ₹ 37,500}$$
$$\text{Closing Trade Payables} = x + 75,000$$
$$\text{Closing Trade Payables} = 37,500 + 75,000$$
$${\text{Closing Trade Payables} = ₹ 1,12,500}$$
