Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following is Zulu statement of financial position for the year ended 31 December 2020 . Additional information: - The following balances are available for
The following is Zulu statement of financial position for the year ended 31 December 2020 . Additional information: - The following balances are available for 31 December 2020 i) Inventory R480000 ii) Trade receivables R306000 iii) Trade payables R522 000 - Turn over for the year ended 31 December 2020 amounted to R12 000000 . The gross profit percentage is 25% - Half of the tumover is credit sales and 75% of purchases are credit purchases. Required: Calculate the following ratios for the year ended 31 December 2020. - Debt ratio - Current ratio - Quick ratio - Debtors' collection period - Creditors payment period - Debt to equity ratio
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