The trading account of Calypso for the year ended 30 June 20X0 is set out below: The following amounts have been extracted from the company's statement of financial position at 30 June 20X0. $ Trade receivables 60,000 Prepayments 4,000 Cash in hand 6,000 Bank overdraft 8,000 Trade payables 40,000 Accruals 3,000 Declared dividends 5,000 Calculate the inventories days (using average inventories) and the current ratio for Calypso Ltd for the period.
A、Inventory days 33 days Current ratio 1.25:1
B、Inventory days 49 days Current ratio 1.25:1
C、Inventory days 49 days Current ratio 1.93:1
D、Inventory days 33 days Current ratio 1.93:1
A、Inventory days 33 days Current ratio 1.25:1
B、Inventory days 49 days Current ratio 1.25:1
C、Inventory days 49 days Current ratio 1.93:1
D、Inventory days 33 days Current ratio 1.93:1
【参考答案及解析】
Inventory days = 44,000/324,500 × 365 days = 49 days Average inventories/COS × 365 Average inventories = (50,000 + 38,000)/2 = 44,000 Current ratio = 108,000/56,000 = 1.93:1 Current assets: Current liabilities Current assets = Trade receivables 60,000 + Prepayments 4,000 + Cash in hand 6,000 + Closing inventories 38,000 = 108,000 Current liabilities = Bank overdraft 8,000 + Trade payables 40,000 + Accruals 3,000 + Declared dividends 5,000 = 56,000
Inventory days = 44,000/324,500 × 365 days = 49 days Average inventories/COS × 365 Average inventories = (50,000 + 38,000)/2 = 44,000 Current ratio = 108,000/56,000 = 1.93:1 Current assets: Current liabilities Current assets = Trade receivables 60,000 + Prepayments 4,000 + Cash in hand 6,000 + Closing inventories 38,000 = 108,000 Current liabilities = Bank overdraft 8,000 + Trade payables 40,000 + Accruals 3,000 + Declared dividends 5,000 = 56,000