Question Bank - Accountancy

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The following data is available in respect of X Ltd:(i) Opening debtors Rs. 12,000(ii) Closing Debtors Rs. 15,000(iii) Credit Sales Rs. 28.000What is the amount of cash received from customers?

A.
Rs. 25,000
B.
Rs. 3,000
C.
Rs. 28,000
D.
Rs. 31,000

Solution:

The amount of cash received from customers is Rs. 25,000. The amount of cash received from customers can be calculated by following formulae:CREDIT SALES + OPENING DEBTORS - CLOSING DEBTORS = AMOUNT OF CASH RECEIVED FROM CUSTOMERS. So, as per the information given in the question Amount of cash received from customers = 28000 + 12000 - 15000 = Rs. 25000.

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