Income Statement (Extract) for the year ended 31 March 2018 2019 £ £ Sales 3,000,000 5,400,000 Less: Cost of Sales 2,400,000 4,320,000 Gross Profit 600,000 1,080,000 Less: Expenses 360,000 500,000 Operating Profit 240,000 580,000 Statement of Financial Position (Extract) as at 31 March 2018 2019 £ £ Non- Current Assets 364,000 512,000 Current Assets Inventory 480,000 1,440,000 Trade Receivables 396,000 812,000 Total Assets £1,240,000 £2,764,000 Capital & Reserves Ordinary Share Capital 140,000 240,000 Reserves 260,000 560,000 Non-Current Liabilities 440,000 500,000 Trade Payables 320,000 724,000 Bank Overdraft 80,000 740,000 Total Equity and Liabilities £1,240,000 £2,764,000 Calculate : Trade Receivable Days Trade Payable Days Non-current assets turnover
Income Statement (Extract) for the year ended 31 March 2018 2019 £ £ Sales 3,000,000 5,400,000 Less: Cost of Sales 2,400,000 4,320,000 Gross Profit 600,000 1,080,000 Less: Expenses 360,000 500,000 Operating Profit 240,000 580,000 Statement of Financial Position (Extract) as at 31 March 2018 2019 £ £ Non- Current Assets 364,000 512,000 Current Assets Inventory 480,000 1,440,000 Trade Receivables 396,000 812,000 Total Assets £1,240,000 £2,764,000 Capital & Reserves Ordinary Share Capital 140,000 240,000 Reserves 260,000 560,000 Non-Current Liabilities 440,000 500,000 Trade Payables 320,000 724,000 Bank Overdraft 80,000 740,000 Total Equity and Liabilities £1,240,000 £2,764,000 Calculate : Trade Receivable Days Trade Payable Days Non-current assets turnover
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
|
Income Statement (Extract) for the year ended 31 March |
||
|
|
2018 |
2019 |
|
|
£ |
£ |
|
Sales |
3,000,000 |
5,400,000 |
|
Less: Cost of Sales |
2,400,000 |
4,320,000 |
|
Gross Profit |
600,000 |
1,080,000 |
|
Less: Expenses |
360,000 |
500,000 |
|
Operating Profit |
240,000 |
580,000 |
|
Statement of Financial Position (Extract) as at 31 March |
||
|
|
2018 |
2019 |
|
|
£ |
£ |
|
Non- Current Assets |
364,000 |
512,000 |
|
Current Assets |
|
|
|
Inventory |
480,000 |
1,440,000 |
|
Trade Receivables |
396,000 |
812,000 |
|
Total Assets |
£1,240,000 |
£2,764,000 |
|
Capital & Reserves |
|
|
|
Ordinary Share Capital |
140,000 |
240,000 |
|
Reserves |
260,000 |
560,000 |
|
Non-Current Liabilities |
440,000 |
500,000 |
|
Trade Payables |
320,000 |
724,000 |
|
Bank Overdraft |
80,000 |
740,000 |
|
Total Equity and Liabilities |
£1,240,000 |
£2,764,000 |
Calculate :
Trade Receivable Days
Trade Payable Days
Non-current assets turnover
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