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

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

FINANCIAL ACCOUNTING
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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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
Transcribed Image Text: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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