The following information has been extracted from the financial statements of Greenstar Limited. Statement of Financial Position as at 31 December 2020 ASSETS R Non -Current Assets 2 250 000 Current assets 1 656 000 Inventory 792 000 Accounts Receivable 648 000 Cash 216 000 Sales for 2020 amounted to R3 600 000 and is forecasted to increase to R4 200 000 in 2021. The company uses the percentage of sales to forecast current assets. In 2021 accounts receivable will be projected at an amount of: O A. R648 000 O B. R555 429 O C. R623 000 O D. R756 000
The following information has been extracted from the financial statements of Greenstar Limited. Statement of Financial Position as at 31 December 2020 ASSETS R Non -Current Assets 2 250 000 Current assets 1 656 000 Inventory 792 000 Accounts Receivable 648 000 Cash 216 000 Sales for 2020 amounted to R3 600 000 and is forecasted to increase to R4 200 000 in 2021. The company uses the percentage of sales to forecast current assets. In 2021 accounts receivable will be projected at an amount of: O A. R648 000 O B. R555 429 O C. R623 000 O D. R756 000
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter13: Financial Statement Analysis
Section: Chapter Questions
Problem 13.8E
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