FAC1601 ASSIGNMENT 4 – SEMESTER 2 OF
2022
The information below relates to questions 1 – 3:
Njengabo Limited is company in the coal export business and the following information was
extracted from the financial records of this listed company at 28 February 2022, the end of the
financial year.
2022 2021
R R
Other financial liabilities 178 800 181 200
Other financial assets 154 500 125 400
Inventory 89 500 22 600
Trade payables 37 000 28 700
Trade receivables 64 500 47 800
Additional information:
1. Purchases for the year amounted to R310 000 and 51% thereof were on credit.
2. Ratios reported in year ended 28 February 2021:
Trade receivables collection period – 66.9 days
Trade payables payment period – 64.9 days
Inventory turnover rate – 6 times
3. Only 40% of the total sales were cash sales.
4. The gross profit percentage is 35% on sales.
Which of the following alternatives represents the correct trade receivables collection period of
Njengabo Limited for year 2022?
a.
54.80
b.
54.00
,c.
54.20
d.
82.40
e.
91.33
Question 2
Not yet answered
Marked out of 3.00
Question text
Which of the following alternatives represents the correct trade payables payment period of
Njengabo Limited for year 2022?
a.
38.66
b.
38.50
c.
73.40
d.
38.00
e.
75.84
, Question 3
Question text
Which of the following alternatives represents the correct inventory turnover rate of Njengabo
Limited for year 2022?
a.
4.34
b.
4.00
c.
2.17
d.
4.40
e.
2.15
The information below relates to questions 1 – 20:
The following information relates to Mnambithi Limited:
Extract of items from the statement of financial position information as at 28 February 2022:
Extract from the statement of financial position information as at 28 February
2022:
2022 2021
R R
Share capital 536 500 472 800
Retained earnings 706 600 423 700
Revaluation reserve 118 700 85 200
Loans to director 170 900 181 100
Inventory 51 000 40 200
Listed investment at fair value 207 600 170 300
Bank (Dr) 32 400 22 900
Dividends receivable 15 500 9 700
Land and buildings at cost 610 100 362 100
Furniture and equipment at cost 144 500 181 100
2022
The information below relates to questions 1 – 3:
Njengabo Limited is company in the coal export business and the following information was
extracted from the financial records of this listed company at 28 February 2022, the end of the
financial year.
2022 2021
R R
Other financial liabilities 178 800 181 200
Other financial assets 154 500 125 400
Inventory 89 500 22 600
Trade payables 37 000 28 700
Trade receivables 64 500 47 800
Additional information:
1. Purchases for the year amounted to R310 000 and 51% thereof were on credit.
2. Ratios reported in year ended 28 February 2021:
Trade receivables collection period – 66.9 days
Trade payables payment period – 64.9 days
Inventory turnover rate – 6 times
3. Only 40% of the total sales were cash sales.
4. The gross profit percentage is 35% on sales.
Which of the following alternatives represents the correct trade receivables collection period of
Njengabo Limited for year 2022?
a.
54.80
b.
54.00
,c.
54.20
d.
82.40
e.
91.33
Question 2
Not yet answered
Marked out of 3.00
Question text
Which of the following alternatives represents the correct trade payables payment period of
Njengabo Limited for year 2022?
a.
38.66
b.
38.50
c.
73.40
d.
38.00
e.
75.84
, Question 3
Question text
Which of the following alternatives represents the correct inventory turnover rate of Njengabo
Limited for year 2022?
a.
4.34
b.
4.00
c.
2.17
d.
4.40
e.
2.15
The information below relates to questions 1 – 20:
The following information relates to Mnambithi Limited:
Extract of items from the statement of financial position information as at 28 February 2022:
Extract from the statement of financial position information as at 28 February
2022:
2022 2021
R R
Share capital 536 500 472 800
Retained earnings 706 600 423 700
Revaluation reserve 118 700 85 200
Loans to director 170 900 181 100
Inventory 51 000 40 200
Listed investment at fair value 207 600 170 300
Bank (Dr) 32 400 22 900
Dividends receivable 15 500 9 700
Land and buildings at cost 610 100 362 100
Furniture and equipment at cost 144 500 181 100
