Accounting 0452 · IGCSE · Calculation and understanding of accounting ratios

Calculation and understanding of accounting ratios — practice question

A trader gave the information below for the year ended $31\ \text{May}\ 2021$. Trade payables at $1\ \text{June}\ 2020$: $\$12\,250$ Trade payables at $31\ \text{May}\ 2021$: $\$42\,000$ Credit purchases during the year: $\$319\,375$ What was the trade payables turnover (days) for the year ended $31\ \text{May}\ 2021$?

  • A31 days
  • B34 days
  • C48 days
  • D62 days

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