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Appendix 1: Financial information Current year Previous year Turnover (£000) Net profit (£000) Average cash balances (£000) Average trade receivables days (industry average 30 days) 945 900 187 180 21 20 18 days 22 days Inflation rate (%) 3 3

Appendix 1: Financial information Current year Previous year Turnover (£000) Net profit (£000) Average cash balances (£000) Average trade receivables days (industry average 30 days) 945 900 187 180 21 20 18 days 22 days Inflation rate (%) 3 3

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 14MC: Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit...
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Using the information in appendix 1 only, comment on the financial performance of the
business (briefly consider growth, profitability and credit management)

Appendix 1: Financial information Current year Previous year Turnover (£000) 945 900 Net profit (f000) 187 180 Average cash balances (£000) 21 20 Average trade receivables days (industry average 30 days) 18 days 22 days Inflation rate (%) 3
Transcribed Image Text:Appendix 1: Financial information Current year Previous year Turnover (£000) 945 900 Net profit (f000) 187 180 Average cash balances (£000) 21 20 Average trade receivables days (industry average 30 days) 18 days 22 days Inflation rate (%) 3
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