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    T. Waterman's trading and profit and loss account for the year ending February 29, 2016 shows sales of $127,340 with costs of goods sold of $80,870 resulting in a gross profit of $46,470. Expenses were $16,795 giving a net profit of $29,675. The balance sheet shows assets of $86,144 including stock, debtors, bank and cash, and liabilities of $21,712 including creditors and bank loan, with capital of $44,757 and net profit of $29,675. Various financial ratios are then calculated including average stock, stock turnover, gross and net profit percentages, current and acid test ratios, and return on capital.

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    Ratios 2016

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    T. Waterman's trading and profit and loss account for the year ending February 29, 2016 shows sales of $127,340 with costs of goods sold of $80,870 resulting in a gross profit of $46,470. Expenses were $16,795 giving a net profit of $29,675. The balance sheet shows assets of $86,144 including stock, debtors, bank and cash, and liabilities of $21,712 including creditors and bank loan, with capital of $44,757 and net profit of $29,675. Various financial ratios are then calculated including average stock, stock turnover, gross and net profit percentages, current and acid test ratios, and return on capital.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    10 views1 page

    Fixed Assets Current Assets Fixed Assets Current Assets

    Uploaded by

    maxribeiro@yahoo.com
    T. Waterman's trading and profit and loss account for the year ending February 29, 2016 shows sales of $127,340 with costs of goods sold of $80,870 resulting in a gross profit of $46,470. Expenses were $16,795 giving a net profit of $29,675. The balance sheet shows assets of $86,144 including stock, debtors, bank and cash, and liabilities of $21,712 including creditors and bank loan, with capital of $44,757 and net profit of $29,675. Various financial ratios are then calculated including average stock, stock turnover, gross and net profit percentages, current and acid test ratios, and return on capital.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    T.

    Waterman
    Trading and Profit and Loss Account for the year ended February 29, 2016
    Opening Stock
    16 430 Sales
    127 340
    Purchases
    79 290
    95 720
    Closing Stock
    (14 850)
    Cost of Goods Sold
    80 870
    Gross Profit c/d
    46 470
    127 340
    127 340
    Expenses
    16 795 Gross Profit b/d
    46 470
    Net Profit
    29 675
    46 470
    46 470

    Fixed Assets
    Current Assets
    Stock
    Debtors
    Bank
    Cash

    T. Waterman
    Balance Sheet as at February 29, 2016
    $
    $
    $
    53 220 Capital
    Net Profit
    14 850
    7 310
    Drawings
    9 521
    1 243 32 924 Liabilities
    Creditors
    8 256
    Bank Loan
    13 456
    86 144

    On the worksheet provided calculate the following:


    a. Average Stock
    b. Stock Turnover Ratio
    c. Gross Profit as a percentage of Cost
    d. Gross Profit as a percentage of Sales
    e. Net profit as a percentage of Sales
    f. Expenses as a percentage of Sales
    g. Current Ratio
    h. Working capital
    i. Acid test ratio
    j. Rate of Return on Capital

    $
    44 757
    29 675
    74 432
    (10 000)
    64 432
    21 712
    86 144

    T. Waterman
    Trading and Profit and Loss Account for the year ended February 29, 2016
    Opening Stock
    16 430 Sales
    127 340
    Purchases
    79 290
    95 720
    Closing Stock
    (14 850)
    Cost of Goods Sold
    80 870
    Gross Profit c/d
    46 470
    127 340
    127 340
    Expenses
    16 795 Gross Profit b/d
    46 470
    Net Profit
    29 675
    46 470
    46 470

    Fixed Assets
    Current Assets
    Stock
    Debtors
    Bank
    Cash

    T. Waterman
    Balance Sheet as at February 29, 2016
    $
    $
    $
    53 220 Capital
    Net Profit
    14 850
    7 310
    Drawings
    9 521
    1 243 32 924 Liabilities
    Creditors
    8 256
    Bank Loan
    13 456
    86 144

    On the worksheet provided calculate the following:


    a. Average Stock
    b. Stock Turnover Ratio
    c. Gross Profit as a percentage of Cost
    d. Gross Profit as a percentage of Sales
    e. Net profit as a percentage of Sales
    f. Expenses as a percentage of Sales
    g. Current Ratio
    h. Working capital
    i. Acid test ratio
    j. Rate of Return on Capital

    $
    44 757
    29 675
    74 432
    (10 000)
    64 432
    21 712
    86 144

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