Calculate :1.gross profit percentage on cost. 2. Net profit percentage 3. Debtors collection period in days4 acid test ratio5. Current ratio ebruary 2026JESTION 2The following information was extracted from the trial balance of Bikes for All (Pty) Ltd. for the two years ending 29 February 2020 and 28 February 201920202019RSales185 00060 000Sales returns/Debtors allowances25 00010 000Purchases105 00090 000Purchases returns/Creditors allowances10 00040 000Capital100 00075 000Short term loan20 00010 000Long term loan60 000Short term investment25 00025 000Creditors/Accounts payable10 00015 000Debtors/Accounts receivable40 00045 00040 00045 000Inventory80 00055 000Net profit150 000100 000Total assets140 000125 000Total liabilities

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Calculate :1.gross profit percentage on cost. 2. Net profit percentage 3. Debtors collection period in days

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Calculate :1.gross profit percentage on cost.

2. Net profit percentage

3. Debtors collection period in days

4 acid test ratio

5. Current ratio

ebruary 2026
JESTION 2
The following information was extracted from the trial balance of Bikes for All (Pty) Ltd. for the two years ending 29 February 2020 and 28 February 2019
2020
2019
R
Sales
185 000
60 000
Sales returns/Debtors allowances
25 000
10 000
Purchases
105 000
90 000
Purchases returns/Creditors allowances
10 000
40 000
Capital
100 000
75 000
Short term loan
20 000
10 000
Long term loan
60 000
Short term investment
25 000
25 000
Creditors/Accounts payable
10 000
15 000
Debtors/Accounts receivable
40 000
45 000
40 000
45 000
Inventory
80 000
55 000
Net profit
150 000
100 000
Total assets
140 000
125 000
Total liabilities

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