Statement of Financial position Non-current Assets 575,000 Stock 45,000 Debtors 75,000 Bank 55,000 Total Assets 750,000 Capital & Reserves 500,000 Liabilities 10% Loan 175,000 Accounts payable 50,000 Accrued expenses 25,000 Total Equity & Liabilities 750,000 Statement of Profit or Loss Sales 820,000 Gross Profit 410,000 Pre-tax Profit 300,000 Tax @25% -75000 Net profit 225,000 Additional information: All sales are made on credit terms. what is the current Ratio and the quick ratio?
Statement of Financial position Non-current Assets 575,000 Stock 45,000 Debtors 75,000 Bank 55,000 Total Assets 750,000 Capital & Reserves 500,000 Liabilities 10% Loan 175,000 Accounts payable 50,000 Accrued expenses 25,000 Total Equity & Liabilities 750,000 Statement of Profit or Loss Sales 820,000 Gross Profit 410,000 Pre-tax Profit 300,000 Tax @25% -75000 Net profit 225,000 Additional information: All sales are made on credit terms. what is the current Ratio and the quick ratio?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Non-current Assets |
575,000 |
|||
Stock |
45,000 |
|||
Debtors |
75,000 |
|||
Bank |
55,000 |
|||
Total Assets |
750,000 |
|||
Capital & Reserves |
500,000 |
|||
Liabilities |
||||
10% Loan |
175,000 |
|||
Accounts payable |
50,000 |
|||
Accrued expenses |
25,000 |
|||
Total Equity & Liabilities |
750,000 |
|||
Statement of Profit or Loss |
||||
Sales |
820,000 |
|||
Gross Profit |
410,000 |
|||
Pre-tax Profit |
300,000 |
|||
Tax @25% |
-75000 |
|||
Net profit |
225,000 |
Additional information: All sales are made on credit terms.
what is the
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