Use the information of Mbombela Traders for the year ended 31 March 2020 provided below. Vehicles Inventory R 700,000 200,000 Bank (overdraft) 50,000 Debtors control 600,000| Creditors control 500,000 Equipment 400,000 What is the amount of current liabilities? A. R 500,000 B. R 550,000 C. R 900,000 D. R 1,150,000 E. R 850,000
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What is the amount of current liabilities??
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- What is the amount of current liabilitiesThe financial statements of the company for the past two years are summarised below: Particulars 2020 2021 Assets: Cash Nil 2000 Trade debtors 55000 40000 Stock -in-trade 55000 45000 Fixed Assets (Net ) 137000 145000 247000 232000 Liabilities: Trade creditors 32000 25000 Provision for taxation 11000 9000 Bank Overdraft 12000 Nil Paid - Up capital 150000 150000 General reserve 30000 35000 P&L Appropriation A/c 12000 13000 247000 232000 Net income Statement 2020 2021 Sales 400000 375000 Less: COGS 245000 225000 Other expenses 130000 (375000) 132000 (357000) Net Profit 25000 18000 Opening stock on 1st January 2020 was Rs.60000 Calculate the following ratios for two years: -1) Current Ratio 2) Quick ratio 3) Stock Turnover ratio 4) Debtors' turnover ratio 5) Average collection period Assume 360 days in a yearComparative Analysis: Under Armour, Inc., versus Columbia Sportswear Refer to the 10-K reports of Under Armour, Inc., and Columbia Sportswear that are available for download from the companion website at CengageBrain.com. Required: Are debt and equity likely to be available as inflows of cash in the near future?
- Reference is made to the 2022 Balance Sheet of Tram-Ropes limited. Tram-Ropes Limited Balance Sheet 2022 Cash Acc. Receivable Marketable securities Inventories Fixed Assets Total Assets i. 1,000,000.00 ii. 12,000,000.00 3,000,000.00 7,500,000.00 26,500,000.00 50,000,000.00 Accounts Payable Notes Payable Long-term Debt Common stock Preferred Stock Total Liabilities and Equity 8,000,000.00 8,500,000.00 20,000,000.00 7,500,000.00 6,000,000.00 Additional Information: The Long-Term debt consists of 8% annual coupon bonds, with 15 years to maturity and are currently selling for 95% of par. The company's common shares which have a book value of $20 per share are currently selling at $25 per share. 50,000,000.00Give me answerThe comparative balance sheets for Metlock Corporation show the following information. December 312020 2019Cash $33,500 $12,900Accounts receivable 12,400 10,000Inventory 12,100 9,000Available-for-sale debt investments –0– 3,000Buildings –0– 29,800Equipment 44,800 19,900Patents 5,000 6,300 $107,800 $90,900Allowance for doubtful accounts $3,100 $4,500Accumulated depreciation—equipment 2,000 4,500Accumulated depreciation—building –0– 6,000Accounts payable 5,000 3,000Dividends payable –0– 4,900Notes payable, short-term (nontrade) 3,000 4,100Long-term notes payable 31,000 25,000Common stock 43,000 33,000Retained earnings 20,700 5,900 $107,800 $90,900 Additional data related to 2020 are as follows. 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500.2. $10,000 of the long-term note payable was paid by issuing common stock.3. Cash dividends paid were $4,900.4. On January…
- How did they get 12 million from this question? ExplainConsider the Following balance sheet Expected Balance Sheet for XYZ Bank Assets Yield Liabilities Cost Rate sensitive $ 1200 7% %24 1100 8% Fixed rate $ 1400 9% 1400 7% Non earning $ 3200 %24 1500 Equity 1800 Total $ 5800 $ 5800 What is the Net Interest Income (NII)Summerfields Sdn BhdBalance Sheet as at 31 December 2020 (RM’000)Cash 400 Account payable 1,200Marketable securities 500 Accrued wages 1,200Accounts receivable 750 Notes payable 700Inventories 500 Mortgage payable 2,200Net Fixed Asset 4,850 Common stock 500Retained earnings 1,200TOTAL ASSETS 7,000 TOTAL CLAIMS 7,000Additional information:-i) Sales in 2020 was RM 12 million and it is projected to increase to 18 million in 2021.ii) The company is operating at full capacity.iii) The net profit for this company in 2020 was RM1,200,000 and dividend payment wasRM300,000.iv) All external financing will be absorbed and met by common stock.Prepare a pro-forma balance sheet for Summerfields Sdn Bhd for the year ended 2021by using percent of sales method and determine the external funds required.
- What is the amount of current liabilities?Reference is made to the 2022 Balance Sheet of Tran-Ropes limited. Tram-Ropes Limited Balance Sheet 2022 Cash Acc. Receivable Marketable securities Inventories Fixed Assets Total Assets 1,000,000.00 ii. 12,000,000.00 3,000,000.00 7,500,000.00 26,500,000.00 50,000,000,00 Accounts Payable Notes Payable Long-term Debt Common stock Preferred Stock Total Liabilities and Equity 8,000,000.00 8,500,000.00 20,000,000.00 7,500,000.00 6,000,000.00 50,000,000.00 Additional Information: 1. The Long-Term debt consists of 8% annual coupon bonds, with 15 years to maturity and are currently selling for 95% of par. The company's common shares which have a book value of $20 per share are currently selling at $25 per share. iii. iv. V. Preferred shares have a book value of $100 per share. These shares are currently selling at $120 per share and pays dividends of 6% per annum on book value. The dividend growth rate is expected to be 3%, and dividend for 2823 is projected to be $5.00 per share. The…N1. All info is there