6. Notts Ltd's cost of sales on its statement of profit or loss for the ended...

 

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6. Notts Ltd's cost of sales on its statement of profit or loss for the ended 31 December 2020 is £105,066. Its inventory at 31 Dec 2019 is £6,430 and at 31 Dec 2020 is £5,757. Its trade payables at 31 December 2019 is £9,204 and at 31 December 2020 is £8,580. Calculate the purchases for the year ending 31 Dec 2020 (a) £104,393 (b) £110,823 (c) £105,317 (d) £98,636 A company had the following assets and liabilities as at 31 December 2020: E 20,000 15,000 10,000 Share capital Trade and other payables Bank overdraft Trade and other receivables 18,000 Inventory 20,000 Plant and equipment 35,000 Long-term bank loan 18,000 Calculate the working capital for the company as at 31 December 2020 (a) £33,000 (b) £30,000 (c) £13,000 (d) £23,000 6. Notts Ltd's cost of sales on its statement of profit or loss for the ended 31 December 2020 is £105,066. Its inventory at 31 Dec 2019 is £6,430 and at 31 Dec 2020 is £5,757. Its trade payables at 31 December 2019 is £9,204 and at 31 December 2020 is £8,580. Calculate the purchases for the year ending 31 Dec 2020 (a) £104,393 (b) £110,823 (c) £105,317 (d) £98,636 A company had the following assets and liabilities as at 31 December 2020: E 20,000 15,000 10,000 Share capital Trade and other payables Bank overdraft Trade and other receivables 18,000 Inventory 20,000 Plant and equipment 35,000 Long-term bank loan 18,000 Calculate the working capital for the company as at 31 December 2020 (a) £33,000 (b) £30,000 (c) £13,000 (d) £23,000

Answer rating: 100% (QA)

To calculate the purchases for the year ending December 31 2020 we can use the formula Purchases Cos... View the full answer