The sole trader of Rhode Store has approached you for a loan. You note that the closing
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The sole trader of Rhode Store has approached you for a loan. You note that the closing cash balances for the last two years were $15920 and $18650 respectively. Rhode Store also took out a loan of $27750 for the current year and sold plant worth $59600 over the past two years. The cash from operating activities last year was negative $35940 and in the preceding year was $9550. Indicate whether you would advance the loan. Give reasons.
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The figures indicate that Rhode Store is having a cash probl...View the full answer
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Related Book For
Accounting Business Reporting For Decision Making
ISBN: 9780730369325
7th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver, David Bond
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