(i) The cash operating cycle can be calculated by adding inventory days and receivables days, and subtracting payables days.
Cost of sales = 3,500,000 x (1 – 0·4) = $2,100,000
Inventory days = 360 x 455,000/2,100,000 = 78 days
Trade receivables days = 360 x 408,350/3,500,000 = 42 days
Trade payables days = 360 x 186,700/2,100,000 = 32 days
Cash operating cycle of Pangli Co = 78 + 42 – 32 = 88 days
(ii)Inventory at end of January 20X7 = 455,000 + 52,250 = $507,250
At the start of January 20X7, 100% of December 20X6 receivables will be outstanding ($300,000), together with 40% of November 20X6 receivables ($108,350 = 40% x 270,875), a total of $408,350 as given.
(iii) Current assets at start of January 20X7 = 455,000 + 408,350 = $863,350
Current liabilities at start of January 20X7 = 186,700 + 240,250 = $426,950
Current ratio at start of January 20X7 = 863,350/426,950 = 2·03 times
Current assets at end of January 20X7 = 507,250 + 470,000 = $977,250
Current liabilities at end of January 20X7 = 306,010 + 451,340 = $757,350
Current ratio at end of January 20X7 = 977,250/757,350 = 1·29 times
以上就是acca F9练习题，多多练习才能拿下acca！如果想要了解更多acca相关信息，请关注中公财经网。
