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Please help E 1 O Question 1 25 Marks GGG Traders recruited you as their accountant for 30 June 2020 financial year. The business has
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E 1 O Question 1 25 Marks GGG Traders recruited you as their accountant for 30 June 2020 financial year. The business has the following information Credit Sales NS 305 000 Mark-up 30% Opening Stock N$ 18 600 Closing Stock N$ 24 800 Total Expenses NS 34 250 Debtors Tumover 15 Times Creditors Turnover 8 Times Current Assets NS 68 400 NS 35 500 Current Liabilities Calculate the following 3 Marks a) Gross profit 2 Marks b) Cost of Sale 2 Marks c) Purchases 4 Marks d) Inventory tumover (days) 4 Marks e) Net profit margin 2 Marks f) Debtors Balance 2 Marks g) Creditors Balance 2 Marks h) Current Ratio 2 Marks i) Cash balance 2 Marks D) Bank Overdraft ROUND-OFF YOUR ANSWERS TO THE NEAREST ZERO DECIMAL PLACEN Page 11 of 19
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