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MBA – Master of Business Administration Accounting Assessment
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Section B: Theory
Length of Assessment: 14 Days
Percentage of final grade given: 80 points
A company’s sales for 2019 were N500 million and its total Trade Receivables for that year was N60 million.
- All Sales were made on credit terms.
- There are 365 days in the year.
- Calculate its Debt collection period.
- Comment on its efficiency
EZ Enterprises has the following results for the period ended 31st December 2018.
- Sales revenue: N20 million
- Opening inventory N750,000.00
- Purchases: N10 million
- Closing Inventory: N2 million
- Cost of Sales
- Gross Profit
For each of the following situations state their effects on a Company’s Cash Balances with a
YES or NO
- A Bonus Issue of Ordinary shares at the year end.
- A Director’s sale of a large chunk of her shares on the floor of the Nigeria Stock Exchange
- Depreciation charge for the year for Motor Vehicles.
- Purchase of Inventory from an authorized vendor on Credit
- Proceeds from the Disposal of an old Generator
- A decrease in Trade Receivables
- A decrease in Trade payables
- The relocation of a New generator to another office within the premises
- Fixed term deposit placement with a bank
- Deployment of a new Accounting Enterprise software during the year
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.
- Current Ratio
- Settlement Period for Trade Payables
- Settlement period for Trade Receivables
|GLORIA LTD TRIAL BALANCE EXTRACTS AS AT 31ST DECEMBER 2019|
|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|
|Ordinary Share capital||300|
Reference ID: #getanswers2001256