accounting assignment

1.1 The following information relates to extract from financial data of Dorah Willemse Ltd for the ended 31 December 2010:

R

Current assets

65 000

Current liabilities

60 000

Accounts receivables

20 000

Inventory

20 000

Goodwill

40 000

Sales (On Credit)

365 000

Cost of goods sold

280 000

Assume a year has 365 days.

Dorah Willemse's inventory turnover is_________.

Select one:

a.7 times

b.18 times

c.14 times

d.9 times

1.2 What type of ratios measure the performance of the company in terms of generating income?

Select one:

a.Activity ratios

b.Liquidity ratios

c.Leverage ratios

d.Profitability ratios

1.3 If net cash provided or used by operating, financing and investing activities are added together, the result is________.

Select one:

a.the change in cash

b.cash outflow

c.cash inflow

d.net income

1.4 Identify the items that would be classified as financing activities on the statement of cash flows.

Select one:

a.Proceeds from borrowing, payment of dividends, receipt of dividends.

b.Sale of goods, payment of administrative expenses and distribution expenses.

c.Sale of property, purchase of equity securities, loans to others.

d.Payments for inventory, payments for salaries, cash received from sale of goods.

1.5 In which category of accounts does dividend payments and receipts fall under?

Select one:

a.Financing accounts.

b.Cash accounts.

c.Investing accounts.

d.Operating accounts.