The following information is available for the past two years: (a) Calculate both the trade receivables collection

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The following information is available for the past two years: image text in transcribed

(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.

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Accounting For Non Accountants

ISBN: 9780749465971

9th Edition

Authors: David Horner

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Question Posted: Jan 31, 2024 03:05 AM

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The following information is available for the past two years: (a) Calculate both the trade receivables collection

Question:

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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Accounting For Non Accountants

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