Answered step by step
Verified Expert Solution
Question
1 Approved Answer
b) The following data were taken from the Statement of Financial Position of Marine Equipment Company (8 Marks) 31 Dec.2019 31-Dec-20 Sh. Sh. Cash Marketable
b) The following data were taken from the Statement of Financial Position of Marine Equipment Company (8 Marks) 31 Dec.2019 31-Dec-20 Sh. Sh. Cash Marketable Securities Accounts and Notes Receivable Inventories 118,000 152,000 210,000 345,000 50,000 190,000 60,000 95,000 131,000 198,000 326,000 45,000 208,000 57,000 Prepaid Expenses Accounts payable Accrued Liabilities Required a) Determine for each year I. Working Capital II. Current Ratio III. Quick Ratio b) From the data Calculated above, what conclusions can you make as to the company's ability to meet the current maturing obligations? a) You have just paid sh.6000/= into a bank account, if the bank pays you 15% per year how much will you have accumulated at the end of ten years (3 marks) b) You intend to pay 10,000/= per year into an investment account that pays 9% per year. How much will be in the account at the end of ten years if the first Instalment is paid end of the first year. (3 Marks) c) Given (b) above, how much would you have in the account if instalments are paid at the beginning of each year (4 Marks) d) Al Shneider has promised his nephew Cletus that he will be paying the following cash at the end of every year into a trust fund as his legacy to him. If the fund pays 7% per annum. How much will be in the account at end of year five? (5 marks) Year 1. 2. 3. 4. 5. cash flows 20,000 30,000 40,000 50,000 60,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started