Hisense Traders recruited you as their accountant for 31 July 2021 financial year. The Business has the following information.   Credit Sales                       N$ 582 000 Mark-up                            N$  30% Opening Stock                  N$ 38 400 Closing Stock                    N$ 18 800 Total expenses                  N$ 43 100 Debtors Turnover              12 times Creditors turnover             16 times Current assests                  N$ 155 600 Current Liabilities              N$ 77 800 Calculate the following Gross prifit Cost of sales Purchases Inventory turnover (days) Net profit margin Debtors Balance Creditors Balance Current Ratio Cash Balance Bank overdraft. Round-off your answers to the nearest zero decimal place.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Hisense Traders recruited you as their accountant for 31 July 2021 financial year. The Business has the following information.

 

Credit Sales                       N$ 582 000

Mark-up                            N$  30%

Opening Stock                  N$ 38 400

Closing Stock                    N$ 18 800

Total expenses                  N$ 43 100

Debtors Turnover              12 times

Creditors turnover             16 times

Current assests                  N$ 155 600

Current Liabilities              N$ 77 800

Calculate the following

Gross prifit

Cost of sales

Purchases

Inventory turnover (days)

Net profit margin

Debtors Balance

Creditors Balance

Current Ratio

Cash Balance

Bank overdraft.

Round-off your answers to the nearest zero decimal place.

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