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Question 1 - The following information has been extracted from the financial statements of ChopChop Pty. Ltd., a knife wholesaler.
Accounts
2021 in thousands
Cash at bank
$166
Interest Expense
$60
Accounts Receivable
$467
Inventory
$669
Bank Loan (5 years)
$580
Accounts Payable
$335
Property, Plant and Equipment
$1,300
Sales
$675
COGS
$255
Wages Expense
$67
Required - Calculate current ratio for the year 2021.
Question 2 - The following information has been extracted from the financial statements of Muggie Pty. Ltd., a mug wholesaler.
2019 in thousands
$775
$320
$479
$330
Cash
$170
Depreciation Expense - Motor Vehicle
$80
$50
Required - Calculate quick asset ratio for the year 2019.
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