Quelpr

Other parts of this question

  1. 3(a)(i)Calculate the acid-test ratio for 2017.[2 marks]
  2. 3(a)(ii)Calculate the gross profit margin for 2017.[2 marks]
  3. 3(a)(iii)Calculate the net income margin for 2017.[2 marks]
  4. 3(b)(i)Assess the performance of Rainbow Corp for 2017 in terms of inventory turnover.[6 marks]
  5. 3(b)(ii)Assess the performance of Rainbow Corp for 2017 in terms of average collection period.[6 marks]
  6. 3(d)(i)Office equipment which had a cost of 200 000, and on which there was accumulated depreciation of 90 000 on the day of the sale, was sold for $120 000.[4 marks]
  7. 3(d)(ii)Land with an acquisition price of 460 000 was purchased with a cash payment of 210 000 and a long-term mortgage for the remainder.[4 marks]
  8. 3(d)(iii)The board of directors declared cash dividends totalling 120 000 during the current year. The comparative balance sheet indicates dividends payable of 40 000…[3 marks]
  9. 3(d)(iv)The issue of a total of 9000 common stock, 10 par with 7000 for cash and 2000 via a stock dividend at a price of 17 per share.[2 marks]

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