Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following information is given about msp ltd f

The following information is given about MSP Ltd for the year ending Dec 312017. ...

80.2K

Verified Solution

Question

Accounting

The following information is given about MSP Ltd for the year ending Dec 312017.
Stock turnover period =6times
Gross Profit Ratio =20% on sales
sales for 2017=300,000
closing Stock =10,000 more than the opening Stock
Opening Creditor =20,000
Closing Creditors =30,000
Trade debtor at the end =60,000
Net working Capital =50,000
Calculate ;
1. Average Stock
2. Purchases
3. Creditors turnover ratio
4. Average Payment Period
5. Average Collection Period
6. Working Capital turnover ratio

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A bond with exactly five years until maturity paying 6% p.a. coupons semi-annually and with a...

Finance
Q

A watermelon seed has the following coordinates: x = -6.4 m, y = 5.0 m, and...

Physics
Q

Neurofibromas are tumors arising from Schwann cells of the nerve sheath surrounding peripheral nerves 90...

Biology
Q

Figure shows electric field lines due to a charge configuration from this we conclude that...

Physics
Q

Solve 4 c 4 CI 4 c 2 1 Enter your answer s as a...

Basic Math
Q

ights of female college stu normall istributed with ssuming inches answer the following questions Hint...

Basic Math
Q

Solve each inequality 5 8 7 x 3 27 A x 4 or x 7...

Algebra
Q

The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the current...

Accounting
Q

Assume that Schmidt Machinery Company had the standard costs reflected in Exhibit 14.5. In a...

Accounting
Q

Due to erratic sales of its sole product - a high-capacity battery for laptop computers...

Accounting
Q

EZ-Seat, Inc., manufactures two types of reclining chairs, Standard and Ergo. Ergo provides support for...

Accounting
Q

\begin{tabular}{|c|c|c|c|} \hline a. & Invoice & & A service in the Sample Company \\ \hline...

Accounting