Question 8
The following balances were extracted from the books of Kambof Ventures as at 31st December, 2017.
Calculate the following:
(i) capital invested in the business;
(ii) cost of goods sold;
(iii) net profit;
(iv) rate of turnover;
(v) working capital.
Comments
The question was well attempted by many candidates and their performance was good.
The expected responses to the question include:
8(i) Capital invested in the business Alternative A
Capital invested = Total assets – current liabilities
OR
Alternative B
Capital invested in the business
Capital invested = Total assets – current liabilities
8(ii) Cost of goods sold
8(iii) Net Profit
8(iv) Rate of turn over
8(v) Working capital
