9:15 Done 2021 Financial Accounting 2 Asse... O Bakterest 75.000 25.000 Wapes & Sales 300.000 280.000 30.000 70.000 More 100.000 Accountancy Fees 5,000 5.000 Travel Expense 35.000 $35.000 200.000.000 50.000 Assessment 5 continued on next page Assessment 5 continued Statement of Financial Position for Yum Yum Team Non-Current Assets 100.000 $50,000 Current Assets Inventory 80.000 60.000 Trade Recev 70.000 50.000 Cash & Bank 30.000 Total Current Assets 180.000 200.000 Total Assets 900.000 750,000 Egy & Liabilities Capital & Reserves Share Capitw 50.000 Retained Earning 800,000 505.000 Total Equity & Reserves 850,000 555.000 Non-Current Liabilities Long Term Loan 20.000 Total Non-Current Liabilities 20,000 So. Current Liabilities Trade Patie 70.000 100.000 Bank Overrat 30.000 35.000 Accra 10.000 10.000 Total Current Liabilities 110.000 145,000 Total Equity & Liabilities 10.000 750,000 Required: Calculate and comment on the following ratios: Gross Profit Ratio 2. Net Profit Ratio Trade Receivable Days Trade Payable Days Current Ratio Quick Acid Test Ratio Interest Cover Debt Equity Ratio Total (40 Marks) ACCT06034 - Financial Accounting 1 Continuous Assessments - 2020/2021 Page 6 of 8 9:15 Done 2021 Financial Accounting 2 Asse... Requirements for this paper, 1. Calculators Assessment 5 (TOTAL MARKS: 40 Statement of Profit & Loss Income Statement of Yunus Year Ended: 30 June 2020 2020 2020 2019 Sales Cost of Soes Opening inventory 60,000 50.000 Purchases 2.700,000 1.800.000 Closing Inventory 20.000 200.000 Total cost of Sales 269.900 1.190.000 Gross Prot 1.320.000 1210.000 Rent 30.000 25.000 Re 100.000 75.000 Legal Fee 70.000 Light & 30.000 General Expenses 10.000 5.000 Bank interest 75.000 25.000 Wages & Sales 300.000 200.000 Insurance 80.000 70.000 Marketing 100.000 50.000 Accountancy Fees 5.000 5.000 Travel Expenses 35.000 335.000 20.000 90.000 Net Pro 485.000 520.000 Assessment 5 continued on next page Assessment 5 continued Statement of Financial Position for Yum Yum Tres La Non-Current Assets 800,000 $50,000 Current Assets Inventory 80.000 60.000 Trade Recev 70.000 50.000 Cash & Bank Total Current Assets 180.000 200.000 Total Assets 980,000 750,000 Equity & Liabilities Capital & Reserves Share Capital 50.000 50.000 Retained Eamings 000.000 505.000 Total Equity & Reserves 350,000 555.000 Non-Current Liabilities Long Term Loan 20,000 50.000 Total Non-Current Lists 20.000 50.000 Current Liabilities Trade Payable 70.000 100.000 Bank Overdrat 10.000 Accu 10.000 10,000 Total Current Liabilities 10.000 145,000 Total Equity & Liabilities 80.000 750,000 35.000 Required: Calculate and comment on the following ratios: Gross TOURS
