The following information is available for the past two years: (a) Calculate both the trade receivables collection
Question:
The following information is available for the past two years:
(a) Calculate both the trade receivables’ collection period and the trade payables’ payment period for each of the two years.
(b) Calculate the acid test ratio for each of the two years.
Transcribed Image Text:
Turnover Purchases Trade receivables Balance at bank Trade payables For year ended 31 March 2013 125,000 80,000 For year ended 31 March 2014 160,000 128,000 As at 31 March 2013 As at 31 March 2014 31,000 4,000 15,600 13,500 8,000 11,800
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