Country : Australia

Assessment Task

Question 1 
The following summarised accounting data was extracted from the accounting reports of P Senior at 30 June 2015.

 

20190913091145AM-1756301112-988699729.png 20190913091145AM-2105920547-1895065475.png

For 2014 and 2015 calculate the following ratios:
1. Current Ratio
2. Liquid Ratio
3. Equity Ratio
4. Return on Owner’s Equity
5. Gross Profit
6. Inventory Turnover
7. Accounts Receivable Collection (in days ) Assume that all sales were on credit
8. Net Profit

Question 2 
The accountant for Dasma Enterprises has calculated the following ratios
RATIO 2014        2015        External Benchmark
Gross Profit         36%        35.3% Industry Average 36%
Net Profit             14.7% 15.1%       Industry Average 16%
Current                1.7:1 1.5:1           Accountants Benchmark
Liquid                  1.1:1 0.9:1           Accountants Benchmark
Return on Equity 40.3% 39.8%      Accountants Benchmark
Inventory Turnover 6.8 times 6.8 times Industry Average 7 times Receivables Turnover 31 days 39 days Accountants Benchmark Equity 42.8% 51.6% Accountants Benchmark

1. Analyse the results for 2015 by using appropriate internal and external benchmarks. You can use the worksheet below if you wish.
2. Write a short report for the owner analysing the strengths and weaknesses of the business. You may use the template provided by your Trainer as a guide.
3. Where you have identified a weakness make recommendations for improvement. You may use the template provided by your Trainer as a guide.

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