The following transactions were entered into by Poppy Pty Ltd during October 2016: Sales of goods on credit for R95 000

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The Following Transactions Were Entered Into By Poppy Pty Ltd During October 2016 Sales Of Goods On Credit For R95 000 1 (28.82 KiB) Viewed 48 times

The following transactions were entered into by Poppy Pty Ltd during October 2016: Sales of goods on credit for R95 000 (inclusive of VAT). Poppy Pty Ltd has a standard mark up of 45% on cost. The company uses a perpetual inventory system. Purchase of goods for R43 000 (inclusive of VAT). The goods were purchased on credit. Settlement of an outstanding account by a debtor. The amount paid after the debtor took advantage of the company's 2.5% early settlement discount was R R9 750. Round off to the nearest Rand. Q.2.1 Calculate the effect of the above transactions on working capital. 0.2.2 Calculate the effect of the above transactions on current liabilities. Q.2.3 Calculate the effect of the above transactions on net working capital. (10) (4) (1)