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Bills Payables 45 000 Merit is a Company that operates in the Retail business and has a 30 June 2021 year end. The Books of Merit Outstanding Expenses 5 000 private limited are as follows: Total Equity and Liabilities s 6 400 000 Statement of Profit or loss and other comprehensive income as at 30 June 2021 R Additional Information 1. Opening Inventory was R 325 000 2. A year has 360 days Sales 1 500 000 Cost of Sales (750 000) Gross Profit 750 000 Office expenses (Including interest on debentures) (125 000) Required Selling expenses (125 000) Calculate the following ratios, Answer ALL questions. Profit before Tax 500 000 Тах (250 000) 250 000 Net Profit Statement of Financial Position as at 30 June 2021 R Assets 7. Creditors/Payables ratio 8. Proprietary/Shareholders to Total assets ratio Fixed Assets 5 500 000 9. Rate of return on net capital employed Inventory 175 000 10. Rate of retum on equity shares Trade Receivables 350 000 11. Days' supply (Inventory) on hand Bills Receivables 50 000 Cash 225 000 Intangible Assets 100 000 6 400 000 Total Assets Equity and Liabilities Share Capital 2 000 000 10% Preference shares 2 000 000 Retained Earnings 1100 000 10% Debentures 1 000 000 Trade Payables 100 000 Bank Overdraft 150 000

Bills Payables 45 000 Merit is a Company that operates in the Retail business and has a 30 June 2021 year end. The Books of Merit Outstanding Expenses 5 000 private limited are as follows: Total Equity and Liabilities s 6 400 000 Statement of Profit or loss and other comprehensive income as at 30 June 2021 R Additional Information 1. Opening Inventory was R 325 000 2. A year has 360 days Sales 1 500 000 Cost of Sales (750 000) Gross Profit 750 000 Office expenses (Including interest on debentures) (125 000) Required Selling expenses (125 000) Calculate the following ratios, Answer ALL questions. Profit before Tax 500 000 Тах (250 000) 250 000 Net Profit Statement of Financial Position as at 30 June 2021 R Assets 7. Creditors/Payables ratio 8. Proprietary/Shareholders to Total assets ratio Fixed Assets 5 500 000 9. Rate of return on net capital employed Inventory 175 000 10. Rate of retum on equity shares Trade Receivables 350 000 11. Days' supply (Inventory) on hand Bills Receivables 50 000 Cash 225 000 Intangible Assets 100 000 6 400 000 Total Assets Equity and Liabilities Share Capital 2 000 000 10% Preference shares 2 000 000 Retained Earnings 1100 000 10% Debentures 1 000 000 Trade Payables 100 000 Bank Overdraft 150 000

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter22: Accounting For Changes And Errors.
Section: Chapter Questions
Problem 5RE: Bloom Company had beginning unadjusted retained earnings of 400,000 in the current year. At the...
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Bills Payables 45 000 Merit is a Company that operates in the Retail business and has a 30 June 2021 year end. The Books of Merit Outstanding Expenses 5 000 private limited are as follows: Total Equity and Liabilities 6 400 000 Statement of Profit or loss and other comprehensive income as at 30 June 2021 R Additional Information Sales 1 500 000 1. Opening Inventory was R 325 000 Cost of Sales (750 000) 2. A year has 360 days Gross Profit 750 000 Office expenses (Including interest on debentures) (125 000) Required Selling expenses (125 000) Calculate the following ratios, Answer ALL questions. Profit before Tax 500 000 Таx (250 000) Net Profit 250 000 Statement of Financial Position as at 30 June 2021 Assets 7. Creditors/Payables ratio 8. Proprietary/Shareholders to Total assets ratio Fixed Assets 5 500 000 9. Rate of return on net capital employed Inventory 175 000 10. Rate of return on equity shares Trade Receivables 350 000 11. Days' supply (Inventory) on hand Bills Receivables 50 000 Cash 225 000 Intangible Assets 100 000 Total Assets 6 400 000 Equity and Liabilities Share Capital 2 000 000 10% Preference shares 2 000 000 Retained Earnings 1 100 000 10% Debentures 1 000 000 Trade Payables 100 000 Bank Overdraft 150 000
Transcribed Image Text:Bills Payables 45 000 Merit is a Company that operates in the Retail business and has a 30 June 2021 year end. The Books of Merit Outstanding Expenses 5 000 private limited are as follows: Total Equity and Liabilities 6 400 000 Statement of Profit or loss and other comprehensive income as at 30 June 2021 R Additional Information Sales 1 500 000 1. Opening Inventory was R 325 000 Cost of Sales (750 000) 2. A year has 360 days Gross Profit 750 000 Office expenses (Including interest on debentures) (125 000) Required Selling expenses (125 000) Calculate the following ratios, Answer ALL questions. Profit before Tax 500 000 Таx (250 000) Net Profit 250 000 Statement of Financial Position as at 30 June 2021 Assets 7. Creditors/Payables ratio 8. Proprietary/Shareholders to Total assets ratio Fixed Assets 5 500 000 9. Rate of return on net capital employed Inventory 175 000 10. Rate of return on equity shares Trade Receivables 350 000 11. Days' supply (Inventory) on hand Bills Receivables 50 000 Cash 225 000 Intangible Assets 100 000 Total Assets 6 400 000 Equity and Liabilities Share Capital 2 000 000 10% Preference shares 2 000 000 Retained Earnings 1 100 000 10% Debentures 1 000 000 Trade Payables 100 000 Bank Overdraft 150 000
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