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problem 1: You are to study the given financial statements for two similar kinds of retail store and then answer the below problems:

1693_financial statements.jpg

1786_financial statements_2.jpg

Required:

a) Compute the given ratios:

• Gross profit as a percentage of sales
• Net profit as a percentage of sales
• Expenses as percentage of sales 
• Stock turn
• Rate of return of net profit on capital employed 
• Current ratio 
• Acid Test ratio 
• Debtor/Sales ratio
• Creditor/Purchases ratio

b) Comment on the similarities and differences of the accounting ratios for A and B. Which business seems to be the most proficient? Give reasons.

problem 2: Accounting concepts, primary or else, are central to the preparation of objectives and accurate final accounts.

Required:

Describe the above statement with exact reference to the five primary concepts?

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M96920

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