Doggard Co is a business that sells second hand cars. If a car develops a fault within 30 days of the sale, Doggard Co will
repair it free of charge.At 30 April 20X4 Doggard Co had made a provision for repairs of $2,500. At 30 April 20X5 Doggard
Co calculated that the provision should be $2,000.What entry should be made for the provision in Doggard Co's statement of
profit or loss for the year to 30 April 20X5?
Doggard Co needs to reduce the provision by $500 ie a credit to the statement of profit or loss.
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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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