NATIONAL SENIOR CERTIFICATE GRADE 11

Accounting 13DoE/Exemplar 2007NSCAmounts obtained from the financial statements:2007 2006Sales (40% on credit) 3 100 000 4 200 000Cost of sales 1 820 000 2 640 000Operating profit 365 800 600 600Net profit 269 000 520 000Capital – Impey 1 000 000 1 400 000Capital – Phala 1 700 000 900 000Current Account – Impey (58 000) (10 000)Current Account – Phala 90 000 40 000Trading stock 180 000 440 000Trade debtors 410 000 230 000Trade creditors 245 000 184 000Financial indicators calculated from the financial statements:2007 2006Operating profit as a % of sales 11,8% 14,3%Net profit as a % of sales 8,6% 12,2%Current ratio 2,6:1 3,0:1Acid-test ratio 2,1:1 1,2:1Stock turnover rate 5,9 7,0Debtors' average collection period ? 54 daysCreditors average payment period 23 days 25 daysSolvency ratio ? 3,4:1Debt/Equity ratio ? 0,26:1Return on total capital employed 10,1% 11,2%% return on average equity 12,9% 17,1%% return earned by Impey 14,7% 16,6%% return earned by Phala ? 17,3%Copyright reservedPlease turn over