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What are Common Size Statements?

Post category:Accountancy
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SOLUTION

Common size statements express all items of a financial statement percentage of some common base such as revenue from operations for profit and loss statement and total assets for balance sheet.

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Closing Trade Receivables Rs. 1,00,000; Cash Sales being 25% of Credit Sales; Excess of Closing Trade Receivables over Opening Trade Receivables Rs. 40,000; Revenue from Operations, i.e., Net Sales Rs. 6,00,000. Calculate Trade Receivables Turnover Ratio.

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