(a)[7]
Using the data provided, Calculate the ratios listed below for the year ended 31 December 2023. Show your workings.
(b)[5]
Advise Azim whether he ought to appoint a debt collection company. Support your answer with two advantages and two disadvantages.
(c)[2]
Suggest two other steps that Azim might take to reduce his trade receivables turnover period.
(d(i))[1]
Suggest one step that Azim might take to raise his gross profit margin.
(d(ii))[1]
Suggest one step that Azim might take to raise his profit margin.
(e(i))[2]
Prepare the journal entry Azim needs in order to correct this error. No narration is needed.
(e(ii))[2]
Complete the table below by placing a tick (✓) to show the impact of correcting this error on Azim’s gross profit and closing capital.