Stock 1 Jan 2020- Purchases Sales Carriage outwards Carriage inwards Returns inwards Return outwards Discounts allowed...

    

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Stock 1 Jan 2020- Purchases Sales Carriage outwards Carriage inwards Returns inwards Return outwards Discounts allowed Salaries Rente Motor expenses General expenses Motor vehicles at cost Office equipment at cost Trade debtors Trade creditors+ Cash at banke Cash in hande ABC Motors Ltd.+ Trial Balance as at 31 December 2020- Drawings Share Capital Retained profits, at 1 Jan 2020- Dre HKS 14,346,000 55,260,000 185,400- 129,000- 330,000- 85,000 7,686,000+ 1,782,000- 978,000 1,534,800 2,460,000 3,750,000 7,380,000 1,869,000 177,000+ 5,052,000- 103.004.2004 Cre HKS 78,540,000- 184,2004 8,622,0004 14,490,2004 1,167,800- 103.004.200 Table 1 Additional Information: 2 1. Closing stock as at 31 December 2020 was HK$16,485,000. P 2 Table 1 shows the trial balance of ABC Motors Ltd. drawn up in conclusion of the second year in business as at 31 December 2020. P a) Complete the income statement b) Complete the balance sheet c) Calculate the following ratios and comment on the liquidity and profitability of ABC Motors Ltd. (40 marks) (i) current ratio (ii) acid test ratio (iii) gross ofit ratio (iv) net profit ratio (v) return of capital employed (30 marks) (30 marks) Stock 1 Jan 2020- Purchases Sales Carriage outwards Carriage inwards Returns inwards Return outwards Discounts allowed Salaries Rente Motor expenses General expenses Motor vehicles at cost Office equipment at cost Trade debtors Trade creditors+ Cash at banke Cash in hande ABC Motors Ltd.+ Trial Balance as at 31 December 2020- Drawings Share Capital Retained profits, at 1 Jan 2020- Dre HKS 14,346,000 55,260,000 185,400- 129,000- 330,000- 85,000 7,686,000+ 1,782,000- 978,000 1,534,800 2,460,000 3,750,000 7,380,000 1,869,000 177,000+ 5,052,000- 103.004.2004 Cre HKS 78,540,000- 184,2004 8,622,0004 14,490,2004 1,167,800- 103.004.200 Table 1 Additional Information: 2 1. Closing stock as at 31 December 2020 was HK$16,485,000. P 2 Table 1 shows the trial balance of ABC Motors Ltd. drawn up in conclusion of the second year in business as at 31 December 2020. P a) Complete the income statement b) Complete the balance sheet c) Calculate the following ratios and comment on the liquidity and profitability of ABC Motors Ltd. (40 marks) (i) current ratio (ii) acid test ratio (iii) gross ofit ratio (iv) net profit ratio (v) return of capital employed (30 marks) (30 marks)