Njengabo Limited is company in the coal export business and the following information was extracted from the financial records of this listed company at 28 February 2022, the end of the financial year. Other financial liabilities Other financial assets Inventory Trade payables Trade receivables Additional information: 1. Purchases for the year amounted to R310 000 and 51% thereof were on credit. 2. Ratios reported in year ended 28 February 2021: • Trade receivables collection period - 66.9 days • Trade payables payment period - 64.9 days • Inventory turnover rate - 6 times 3. Only 40% of the total sales were cash sales. 4. The gross profit percentage is 35% on sales. 2022 R 178 800 154 500 89 500 37 000 64 500 2021 R 181 200 125 400 22 600 28 700 47 800

Njengabo Limited is company in the coal export business and the following information was extracted from the financial records of this listed company at 28 February 2022, the end of the financial year. Other financial liabilities Other financial assets Inventory Trade payables Trade receivables Additional information: 1. Purchases for the year amounted to R310 000 and 51% thereof were on credit. 2. Ratios reported in year ended 28 February 2021: • Trade receivables collection period - 66.9 days • Trade payables payment period - 64.9 days • Inventory turnover rate - 6 times 3. Only 40% of the total sales were cash sales. 4. The gross profit percentage is 35% on sales. 2022 R 178 800 154 500 89 500 37 000 64 500 2021 R 181 200 125 400 22 600 28 700 47 800

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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