The following abridged statements relate to Regent Projects Limited for the year ended 2022: Statement of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following abridged statements relate to Regent Projects Limited for the year ended 2022: Statement of Comprehensive Income for the year ended 28 February 2022 Sales (all credit) Cost of sales Gross profit Operating expenses Operating profit Interest expense Profit after tax 4.3 4.4 4.5 4.6 ASSETS Non-Current Assets Current Assets Inventory Debtors EQUITY AND LIABILITIES Owners Equity Statement of Financial Position as at 28 February 2022 Non-Current Liabilities Current Llabilities Creditors Bank overdraft 4.1 Gross Margin 4.2 ¹000 Inventory tumover Debtors collection period Acid-test ratio 800 1050 Debt to Equity Retum on own equity ¹000 9 000 400) 640 90 Note: Inventories on 1 March 2021 amounted to R650 000 (3 5.600 1.800 3.800 300 3.500 4000 2460 1850 4310 Required: Use the information above to calculate the following ratios and where applicable, round off answers correctly to two decimal places. 2940 640 730 4310 (4) (4) (4) (5) (4) (4) The following abridged statements relate to Regent Projects Limited for the year ended 2022: Statement of Comprehensive Income for the year ended 28 February 2022 Sales (all credit) Cost of sales Gross profit Operating expenses Operating profit Interest expense Profit after tax 4.3 4.4 4.5 4.6 ASSETS Non-Current Assets Current Assets Inventory Debtors EQUITY AND LIABILITIES Owners Equity Statement of Financial Position as at 28 February 2022 Non-Current Liabilities Current Llabilities Creditors Bank overdraft 4.1 Gross Margin 4.2 ¹000 Inventory tumover Debtors collection period Acid-test ratio 800 1050 Debt to Equity Retum on own equity ¹000 9 000 400) 640 90 Note: Inventories on 1 March 2021 amounted to R650 000 (3 5.600 1.800 3.800 300 3.500 4000 2460 1850 4310 Required: Use the information above to calculate the following ratios and where applicable, round off answers correctly to two decimal places. 2940 640 730 4310 (4) (4) (4) (5) (4) (4)
Expert Answer:
Answer rating: 100% (QA)
Calculate the following ratios as follows 1 Gross Margin Gross MarginSalesCost of SalesSales100 9000... View the full answer
Related Book For
International Financial Reporting and Analysis
ISBN: 978-1408075012
5th edition
Authors: David Alexander, Anne Britton, Ann Jorissen
Posted Date:
Students also viewed these finance questions
-
Williams Gear makes and sells three types of computer laptop sleeves: leather, fabric, and plastic. Management is trying to determine the most profitable mix. Sales prices, demand, and use of...
-
In view of the information provided below provide suggestions for the efficient management of trade debtors. INFORMATION MANAGEMENT OF TRADE DEBTORS Debtor management is central to the effective cash...
-
Goods 1 and 2 are available at dollar prices of p1 per unit of Good 1 and p2 per unit of Good 2. A utility function U(x 1 , x 2 ) is a function representing the utility or benefit of consuming xj...
-
A 10.0-kg microwave oven is pushed 8.00 m up the sloping surface of a loading ramp inclined at an angle of 36.9 above the horizontal, by a constant force F with a magnitude 110 N and acting parallel...
-
Use the Gauss-Seidel method to solve the following system until the percent relative error falls below S = 5%, 10x1 + 2x2 x3 = 27 3x1 6x2 + 2x3 = 61.5 x1 + x2 + 5x3 = 21.5
-
The adjusted trial balance for Country Cookin Catering, Inc., is presented next. Prepare the income statement, statement of retained earnings, and balance sheet for Country Cookin Catering, Inc., for...
-
The adjusted trial balance for Anara Co. as of December 31, 2013, follows. P. Anara invested $40,000 cash in the business during year 2013 (the December 31, 2012, credit balance of the P. Anara,...
-
If a share expects next year's dividend to be$1.35 and the company's average dividend growth rate is expected to be 6%,then what is the intrinsic value of the share if the market rate is 9.5%?
-
Robinson Products Company has two service departments (S1 and S2) and two production departments (P1 and P2). The distribution of each service departments efforts (in percentages) to the other...
-
3. (Interpretation of Simple Linear Regression Model) Suppose we collect data on 230 mothers' number of cigarettes they have per day during pregnancy and the birth weight of their child (in grams)....
-
What is the pro forma statement, and how important is it for a business?
-
What kind of business would use the price-earnings ratio (RIE) to estimate its own value?
-
Briefly explain the financial ratiosbased value method.
-
Briefly compare replacement value to liquidation value of an asset.
-
List at least five advantages of sole proprietorship.
-
Martha, 60, and Mike, 68, are your clients. They file a married filing joint tax return. Mike retired March 1, 2022 from his medical practice. He purchased an annuity January 1, 2022 to replace his...
-
Clark, PA, has been engaged to perform the audit of Kent Ltd.s financial statements for the current year. Clark is about to commence auditing Kents employee pension expense. Her preliminary enquiries...
-
You are given the attached information about Fred pic, comprising summarized P&L accounts, summarized balance sheets and some suggested ratio calculations. You should note that there may be...
-
Norman, a public limited company, has three segments which are currently reported in its financial statements. Norman is an international hotel group which reports to management on the basis of...
-
Debate the contention that IAS 37 lacks prudence.
-
You have just been telephoned by the chief accountant of a listed company client, Randerston plc, to tell you that there has been a computer breakdown and that some parts of the data concerning...
-
Consider the following situations: (a) Assume that you are a partner in a two partner practice with total practice income of 250 000. One of your clients (a private limited company with a turnover of...
-
You have been asked by your audit partner to be senior in charge of the audit of a small public limited company. Unbeknown to the partner, you hold 1000 of the 100 000 shares in the company. Do you...
Study smarter with the SolutionInn App