A business compiling its financial statements for the year to 31 July each year pays rent quarterly in advance on 1 January,
1 April, 1 July and 1 October each year. The annual rent was increased from $60,000 per year to $72,000 per year as from 1 October 20X3.
What figure should appear for rent expense in the business’s statement of profit or loss and other comprehensive income for
the year ended 31 July 20X4?
$
August to September 60,000 x 2/12 10,000O
ctober to July 72,000 x 10/12 60,000
70,000
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Which of the following is a ratio which is used to measure how much a business owes in relation to its size?
A business operates on a gross profit margin of 331/3%. were $680. Gross profit on a sale was $800, and expenses
What is the net profit margin?
A company has the following details extracted from its statement of financial position：
$'000
Inventories 1,900
Receivables 1,000
Bank overdraft 100
Payables 1,000
The industry the company operates in has a current ratio norm of 1.8. Companies who manage liquidity well in this industry
have a current ratio lower than the norm.
Which of the following statements accurately describes the company’s liquidity position?
Why is analysis of financial statements carried out?
Which of the following transactions would result in an increase in capital employed?
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