Calculate "Debtors ratio"

Calculate "Quick ratio"

Question 1 Information: The Company AA's details are as follow: Sales ( 45% Cash sales) Cost of sales 1,500,000 (800,000) Gross Profit: 700,000 135,000 Office expenses (including interest on debentures) Selling expenses 115,000 total expenses 250,000) Profit before taxes: 450,000 250,000) Net profit: 200,000 Taking 360 days fo the year Taxes 325,000 The opening stock was Calculate the following ratios : Balance Sheet December 31, 2020 Liabilities and shareholders' equity Assets Fixed assets Fictitious Assets Stock Bills receivable Debtors Cash and bank Total assets 6,000,000 100,000 175,000 50,000 350,000 225,000 6,900,000 Equity share capital 10% Preference share capital 10% Debentures reserves Bills payable Cretidtos outstanding expenses bank over draft Total liabilities and shareholders' equity 2,100,000 1,900,000 1,500,000 1,100,000 45,000 100,000 5,000 150,000 6,900,000