Wanda Co allows customers to return faulty goods within 14 days of purchase. At 30 November 20X5 a provision of $6,548
was made for sales returns. At 30 November 20X6, the provision was re-calculated and should now be $7,634
What should be reported in Wanda Co's statement of profit or loss for the year to 31 October 20X6 in respect of the
provision?
The provision should be increased by $1,086, the double entry is therefore Dr Expenses, CrProvision.
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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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