Bills Payables 45 000 Merit is a Company that operates in the Retail business and has a 30 June 2021 year end. The Books of Merit Outstanding Expenses 5 000 private limited are as follows: Total Equity and Liabilities s 6 400 000 Statement of Profit or loss and other comprehensive income as at 30 June 2021 R Additional Information 1. Opening Inventory was R 325 000 2. A year has 360 days Sales 1 500 000 Cost of Sales (750 000) Gross Profit 750 000 Office expenses (Including interest on debentures) (125 000) Required Selling expenses (125 000) Calculate the following ratios, Answer ALL questions. Profit before Tax 500 000 Тах (250 000) 250 000 Net Profit Statement of Financial Position as at 30 June 2021 R Assets 7. Creditors/Payables ratio 8. Proprietary/Shareholders to Total assets ratio Fixed Assets 5 500 000 9. Rate of return on net capital employed Inventory 175 000 10. Rate of retum on equity shares Trade Receivables 350 000 11. Days' supply (Inventory) on hand Bills Receivables 50 000 Cash 225 000 Intangible Assets 100 000 6 400 000 Total Assets Equity and Liabilities Share Capital 2 000 000 10% Preference shares 2 000 000 Retained Earnings 1100 000 10% Debentures 1 000 000 Trade Payables 100 000 Bank Overdraft 150 000
Bills Payables 45 000 Merit is a Company that operates in the Retail business and has a 30 June 2021 year end. The Books of Merit Outstanding Expenses 5 000 private limited are as follows: Total Equity and Liabilities s 6 400 000 Statement of Profit or loss and other comprehensive income as at 30 June 2021 R Additional Information 1. Opening Inventory was R 325 000 2. A year has 360 days Sales 1 500 000 Cost of Sales (750 000) Gross Profit 750 000 Office expenses (Including interest on debentures) (125 000) Required Selling expenses (125 000) Calculate the following ratios, Answer ALL questions. Profit before Tax 500 000 Тах (250 000) 250 000 Net Profit Statement of Financial Position as at 30 June 2021 R Assets 7. Creditors/Payables ratio 8. Proprietary/Shareholders to Total assets ratio Fixed Assets 5 500 000 9. Rate of return on net capital employed Inventory 175 000 10. Rate of retum on equity shares Trade Receivables 350 000 11. Days' supply (Inventory) on hand Bills Receivables 50 000 Cash 225 000 Intangible Assets 100 000 6 400 000 Total Assets Equity and Liabilities Share Capital 2 000 000 10% Preference shares 2 000 000 Retained Earnings 1100 000 10% Debentures 1 000 000 Trade Payables 100 000 Bank Overdraft 150 000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Bills Payables
45 000
Merit is a Company that operates in the Retail business and has a 30 June 2021 year end. The Books of Merit
Outstanding Expenses
5 000
private limited are as follows:
Total Equity and Liabilities
6 400 000
Statement of Profit or loss and other comprehensive income as at 30 June 2021
R
Additional Information
Sales
1 500 000
1. Opening Inventory was R 325 000
Cost of Sales
(750 000)
2. A year has 360 days
Gross Profit
750 000
Office expenses (Including interest on debentures)
(125 000)
Required
Selling expenses
(125 000)
Calculate the following ratios, Answer ALL questions.
Profit before Tax
500 000
Таx
(250 000)
Net Profit
250 000
Statement of Financial Position as at 30 June 2021
Assets
7. Creditors/Payables ratio
8. Proprietary/Shareholders to Total assets ratio
Fixed Assets
5 500 000
9. Rate of return on net capital employed
Inventory
175 000
10. Rate of return on equity shares
Trade Receivables
350 000
11. Days' supply (Inventory) on hand
Bills Receivables
50 000
Cash
225 000
Intangible Assets
100 000
Total Assets
6 400 000
Equity and Liabilities
Share Capital
2 000 000
10% Preference shares
2 000 000
Retained Earnings
1 100 000
10% Debentures
1 000 000
Trade Payables
100 000
Bank Overdraft
150 000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0d28997d-8fba-4746-81c8-46a23a002f39%2Fdc1c8844-c6ec-47a7-8df1-1706ea14621d%2Fdjz8zd8v_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Bills Payables
45 000
Merit is a Company that operates in the Retail business and has a 30 June 2021 year end. The Books of Merit
Outstanding Expenses
5 000
private limited are as follows:
Total Equity and Liabilities
6 400 000
Statement of Profit or loss and other comprehensive income as at 30 June 2021
R
Additional Information
Sales
1 500 000
1. Opening Inventory was R 325 000
Cost of Sales
(750 000)
2. A year has 360 days
Gross Profit
750 000
Office expenses (Including interest on debentures)
(125 000)
Required
Selling expenses
(125 000)
Calculate the following ratios, Answer ALL questions.
Profit before Tax
500 000
Таx
(250 000)
Net Profit
250 000
Statement of Financial Position as at 30 June 2021
Assets
7. Creditors/Payables ratio
8. Proprietary/Shareholders to Total assets ratio
Fixed Assets
5 500 000
9. Rate of return on net capital employed
Inventory
175 000
10. Rate of return on equity shares
Trade Receivables
350 000
11. Days' supply (Inventory) on hand
Bills Receivables
50 000
Cash
225 000
Intangible Assets
100 000
Total Assets
6 400 000
Equity and Liabilities
Share Capital
2 000 000
10% Preference shares
2 000 000
Retained Earnings
1 100 000
10% Debentures
1 000 000
Trade Payables
100 000
Bank Overdraft
150 000
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