MBA – Master of Business Administration Accounting Assessment

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Assessment Details:

Module: Accounting

Section B: Theory

Length of Assessment: 14 Days

Percentage of final grade given: 80 points

 

Question 1.

A company’s sales for 2019 were N500 million and its total Trade Receivables for that year was N60 million.

Assumptions are:

1. All Sales were made on credit terms.
2. There are 365 days in the year.

Required

1. Calculate its Debt collection period.
2. Comment on its efficiency

 

Question 2

EZ Enterprises has the following results for the period ended 31st December 2018.

1. Sales revenue: N20 million
2. Opening inventory N750,000.00
3. Purchases: N10 million
4. Closing Inventory: N2 million

 

Calculate

1. Cost of Sales
2. Gross Profit

 

Question 3

For each of the following situations state their effects on a Company’s Cash Balances with a

YES or NO

1. A Bonus Issue of Ordinary shares at the year end.
2. A Director’s sale of a large chunk of her shares on the floor of the Nigeria Stock Exchange
3. Depreciation charge for the year for Motor Vehicles.
4. Purchase of Inventory from an authorized vendor on Credit
5. Proceeds from the Disposal of an old Generator
6. A decrease in Trade Receivables
7. A decrease in Trade payables
8. The relocation of a New generator to another office within the premises
9. Fixed term deposit placement with a bank
10. Deployment of a new Accounting Enterprise software during the year

 

Question 4

If a business is over trading, do you think the following ratios would be HIGHER or LOWER than normally expected?

Include short explanations with the answer.

1. Current Ratio
2. Settlement Period for Trade Payables
3. Settlement period for Trade Receivables

 

Question 5

GLORIA LTD TRIAL BALANCE EXTRACTS AS AT 31ST DECEMBER 2019
	N,000	N,000
Bank Balance	300
Sales		500
Stationery and office supplies expenses	35
Generator maintenance expenses	40
Other Administrative expenses	20
Furn & Equip at cost	250
Accum Dep at 1st Jan 2019		50
Purchases	100
Opening Inventory	105
Ordinary Share capital		300
Trade Receivables	100
Trade Payables		100
	950	950

 

 

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