Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following data applies to a company at their year-end. (figures are in millions in Rand) Cash R 80 Cost of Sales R 400 Fixed
The following data applies to a company at their year-end.
(figures are in millions in Rand)
Cash R 80
Cost of Sales R 400
Fixed Assets R 327
Sales R1 800 (two thirds of which are on credit)
NPAT R 400
Quick / Acid Ratio 2:1
Current Ratio 3:1
Debtors Collection 60 days (2 months)
R O E 20%
You must establish
- Gross profit margin
- Amount of equity
- Value of debtors at year end
- Current liabilities at year end
- Return on sales
- Current assets at year-end
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