Koala Ltd reports the following information: Net profit $80,000 Total assets 1,000,000 Current liabilities 220,000 Non-current...
Koala Ltd reports the following information:
Net profit $80,000
Total assets 1,000,000
Current liabilities 220,000
Non-current liabilities 650,000
If current assets represent 40% of total assets, Koala Ltd's
current ratio is:
A. 0.92 times
B. 1.54 times
C. 1.82 times
D. 4.55 times
Homework Answers
current assets =0.4*$1,000,000=$400,000
Current ratio=current assets /Current liabilities
=(400,000/220,000)
=1.82 times(Approx).
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Koala Ltd reports the following information:
Net profit $80,000
Total assets 1,000,000
Current liabilities 220,000
Non-current...
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2019
2020
Net sales
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Gross profit
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Income tax expense
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35046
Profit for the period
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$105138
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Statement of financial position
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Assets
2019
2020
Current assets
Cash...
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for the years ended 30 June
2019
2020
Net sales
$1340000
$1180000
Cost of sales
656600
542800
Gross profit
683400
637200
Selling and administrative expense
300696
439668
Finance costs
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57348
Profit before income tax
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140184
Income tax expense
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35046
Profit for the period
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2019
2020
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