The following balances were extracted from the books of Adama Ltd on 31st August 2007
# | |
Sales |
200000 |
Drawings |
10000 |
Land and building |
70000 |
Furniture |
10000 |
Debtors |
50000 |
Creditors |
35000 |
Capital |
85000 |
Bank |
10000 |
General expenses |
10000 |
Stock ( 31-08-2007) |
10000 |
Purchases |
140000 |
Stock (1-09- 2006) |
20000 |
Percentage of net profit to sale is
The following balances were extracted from the books of Adama Ltd on 31st August 2007
# | |
Sales |
200000 |
Drawings |
10000 |
Land and building |
70000 |
Furniture |
10000 |
Debtors |
50000 |
Creditors |
35000 |
Capital |
85000 |
Bank |
10000 |
General expenses |
10000 |
Stock ( 31-08-2007) |
10000 |
Purchases |
140000 |
Stock (1-09- 2006) |
20000 |
Total fixed assets is
The following balances were extracted from the books of Adama Ltd on 31st August 2007
# | |
Sales |
200000 |
Drawings |
10000 |
Land and building |
70000 |
Furniture |
10000 |
Debtors |
50000 |
Creditors |
35000 |
Capital |
85000 |
Bank |
10000 |
General expenses |
10000 |
Stock ( 31-08-2007) |
10000 |
Purchases |
140000 |
Stock (1-09- 2006) |
20000 |
The gross profit is
The following balances were extracted from the books of Adama Ltd on 31st August 2007
# | |
Sales |
200000 |
Drawings |
10000 |
Land and building |
70000 |
Furniture |
10000 |
Debtors |
50000 |
Creditors |
35000 |
Capital |
85000 |
Bank |
10000 |
General expenses |
10000 |
Stock ( 31-08-2007) |
10000 |
Purchases |
140000 |
Stock (1-09- 2006) |
20000 |
The current ratio is
The following balances were extracted from the books of Onuoha, a trader on 31st December 2005
Audit fee | 12000 |
General expenses | 30000 |
Purchases | 70000 |
Commission paid | 30000 |
Stock (1 - 01 - 2005) | 10000 |
Stock ( 31 - 12 - 2005) | 15000 |
Sales | 120000 |
The gross profit is