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How to do ratio's for a sole trader
The balance sheet of a sole trader revealed the following position.
Fixed assets Land and Buildings R9 170 Equipment at cost less depreciation 15 570 Goodwill at cost less amounts written off 10 250 R34 990 Investment in shares at cost 2 200 Current assets Trading stock R45 840 Sundry debtors less bad debts written off 19 350 Cash at bank 10 920 R76 110 R113 300 = A Less Current Liabilities Sundry Creditors and accruals 77 600 R35 700 = L Owners Interest Capital R28 400 Profit for the year 7 300 R35 700 = O Are the assets correctly classified? If not, rearrange them and give your reasons for so doing. What is the current ratio? Is it satisfactory? What is the acid test ratio? Is it satisfactory? Is the business solvent? Give your reasons. Is the business overtrading? Give your reasons. What is the profitability ratio of the business? |
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