Scribd
Upload
1K views2 pages

Tugas Chapter 11

Aspero, Inc. is seeking a $100,000 short-term loan and needs to meet the credit requirements of two banks. Bank America requires a 25% gross margin on sales, while Bank Boston requires a 2:1 current ratio. Based on calculations using Aspero's financial information, its gross profit margin is 20.45%, below Bank America's requirement. However, its current ratio is 2.05, meeting Bank Boston's requirement. Therefore, Aspero's loan application would be rejected by Bank America but approved by Bank Boston.

Uploaded by

AndroAndroIndraputra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
1K views2 pages

Tugas Chapter 11

Aspero, Inc. is seeking a $100,000 short-term loan and needs to meet the credit requirements of two banks. Bank America requires a 25% gross margin on sales, while Bank Boston requires a 2:1 current ratio. Based on calculations using Aspero's financial information, its gross profit margin is 20.45%, below Bank America's requirement. However, its current ratio is 2.05, meeting Bank Boston's requirement. Therefore, Aspero's loan application would be rejected by Bank America but approved by Bank Boston.

Uploaded by

AndroAndroIndraputra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Problem 11-3

Aspero, Inc., has sales of approximately $500,000 per year. Aspero requires a short-term loan of
$100,000 to finance its working capital requirements. Two banks are considering Aspero’s loan
request but each bank requires certain minimum conditions be satisfied. Bank America requires at
least a 25% gross margin on sales, and Bank Boston requires a 2:1 current ratio.

The following information is available for Aspero for the current year:

 Sales returns and allowances are 10% of sales.


 Purchases returns and allowances are 2% of purchases.
 Sales discounts are 2% of sales. Purchase discounts are 1% of purchases.
 Ending inventory is $138,000.
 Cash is 10% of accounts receivable.
 Credit terms to Aspero’s customers are 45 days.
 Credit terms Aspero receives from its suppliers are 90 days.
 Purchases for the year are $400,000.
 Ending inventory is 38% greater than beginning inventory.
 Accounts payable are the only current liability.

Required: Assess whether Aspero, Inc., meets the credit constraint for a loan from either or both
banks. Show computations

P&L Aspero, Inc,

Penjualan 500.000
Retur (10%) 50.000
Diskon (2%) 10.000
Penjualan Bersih 440.000

Pembelian 400.000
Retur (2%) 8.000
Diskon 4.000
Pembelian bersih 388.000

Inventori Awal 100.000


Pembelian bersih 388.000
Inventori akhir 138.000
HPP 350.000

Gross Profit 90.000

Maka Gross profit Margin = 90.000 / 440.000 = 20,45%. Gross Profit Margin ini lebih rendah dari
yang disyaratkan Bank America, maka permohonan kreditnya akan ditolak Bank America.
Acc Acc Payable
Recieveable DPO 90
DSO 45 hari DPO = 360
DSO = 360 Turnover utang
Turnover Piutang
Turnover utang = 360 = 4
Turnover 90
= 360 = 8,0
Piutang
45 Turnover utang = Pembelian
Utang
Turnover
= Penjualan
Piutang 4 = 388.000
Piutang Utang

8 = 440.000 Utang = 97.000


Piutang

Piutang = 55.000

Current Ratio
Aset Lancar = Kas + inventori + piutang

Kas = 5.500
Inventori = 138.000
Piutang = 55.000
Aset Lancar = 198.500

Utang lancar = Utang dagang


Utang lancar = 97.000

Current Ratio = Aset Lancar


Utang lancar
= 2,05

Current ratio tersebut di atas yang disyaratkan oleh Bank Boston, maka perohonan kreditnya akan
disetujui oleh Bank Boston

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy