Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Njengabo Limited is company in the coal export business and the following information was extracted from the financial records of this listed company at

image text in transcribedimage text in transcribed

Njengabo Limited is company in the coal export business and the following information was extracted from the financial records of this listed company at 28 February 2022, the end of the financial year. Other financial liabilities Other financial assets Inventory Trade payables Trade receivables Additional information: 1. Purchases for the year amounted to R310 000 and 51% thereof were on credit. 2. Ratios reported in year ended 28 February 2021: Trade receivables collection period - 66.9 days Trade payables payment period - . 64.9 days Inventory turnover rate - 6 times 3. Only 40% of the total sales were cash sales. 4. The gross profit percentage is 35% on sales. 2022 2021 R R 178 800 181 200 154 500 125 400 89 500 22 600 37 000 28 700 64 500 47 800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Analysis Valuation Using Financial Statements

Authors: Paul M. Healy

5th edition

1111972303, 978-1111972301

More Books

Students also viewed these Accounting questions

Question

T. artetearich Eha Rultot. T. artetearich Eha Rultot

Answered: 1 week ago

Question

A population of N 5 8 scores has a standard deviation of s 5

Answered: 1 week ago