ABFA1173 Principles of Accounting Question 3 Statements of Financial Position as at 31 December... Year 1 RM'000 Year 2 RM'000 The summarised accounts of Hope Sdn Bhd for Year 1 and Year 2 are given...

Extracted text: ABFA1173 Principles of Accounting Question 3 Statements of Financial Position as at 31 December... Year 1 RM'000 Year 2 RM'000 The summarised accounts of Hope Sdn Bhd for Year 1 and Year 2 are given below: Statement of Profit or Loss for the years ended 31 December... RM'000 RM'000 Non-current assets (NBV) Inventories 110 140 20 30 Year 1 Year 2 Trade receivables 25 28 RM'000 RM'000 RM 000 RM°000 Bank 45 5 63 203 Sales Less: Cost of goods sold Gross profit Less: Expenses: Administration expenses Debenture interest 200 280 155 (150) (210) 50 70 Ordinary share capital Retained profits 100 100 30 41 38 46 130 141 (38) 4 (50) Net profit before tax Less: Tax expense Net profit after tax 12 20 Trade payables Bank 15 12 (3) 9 (4) 10 25 12 16 8% Debentures 50 Statement of Changes in Equity (extract) for the years ended 31 December... Year 2 RM'000 155 203 Year 1 RM'000 Inventories as at 1 January Year 1 was RM50,000. Retained earnings as at 1 Jan Add: Profit for the year Less: Appropriation Ord div of 5 sen per share Retained earnings as at 31 Dec 26 30 9 16 Required: (5) (5) (a) Calculate the following ratios for Year 1 and Year 2: 30 41 (iv) Trade receivables turnover days; (v) Trade payables turnover days; (vi) Current ratio