Calculate the cash ratio, Interest and administration costs

Calculate the cash ratio

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Reference no: EM133925688

Problem

Current assets Inventory 5 116 Trade and other receivables - retail 6 695 Prepayments 946 Cash and cash equivalents 888 Total assets 22 095 Current liabilities Short-term portion of interest-bearing debt d 3 139 Short-term borrowings e 1 246 Trade and other payables 1 835 Total equity and liabilities 22 095. Finance costs for the year amounted to R1 269 million and interest income received on credit bank balance was R194 million. Interest-bearing debt at 31 January 2022 was R10 877 million. The short-term borrowings comprise of unsecured loans. Get the instant assignment help. Interest and administration costs on these loans are negligible. The corporate taxation rate is 28% and there were 365 days in the 2022 financial year. Calculate the cash ratio.

Reference no: EM133925688

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