📚 Worksheet Answers – Chapter 26: Ratio Analysis | 第26章 财务比率分析练习答案
This article provides a complete set of worked answers for a worksheet on ratio analysis, based on a fictional business, TechStyle Ltd. It covers liquidity, efficiency, profitability, gearing and investor ratios outlined in Chapter 26 of the Cambridge A-Level Business syllabus. Each section shows the calculation, the formula and a brief interpretation of the result.
本文提供了一套完整的财务比率分析练习题答案，基于一家虚构的企业 TechStyle 公司。内容涵盖了剑桥 A-Level 商务课程第26章中的流动性、效率、盈利能力、杠杆比率和投资者比率。每一节都展示了计算过程、公式以及对结果的简要解读。
Key Financial Data for TechStyle Ltd (year ended 31 December 2023)
| Balance Sheet Item | Amount (£) |
|---|---|
| Non-current assets | 500,000 |
| Inventory | 80,000 |
| Trade receivables | 60,000 |
| Cash and bank | 20,000 |
| Total current assets | 160,000 |
| Total assets | 660,000 |
| Share capital (£1 ordinary shares) | 300,000 |
| Retained earnings | 100,000 |
| Total equity | 400,000 |
| Non-current liabilities (Bank loan) | 150,000 |
| Trade payables | 70,000 |
| Short-term borrowings | 40,000 |
| Total current liabilities | 110,000 |
| Total equity and liabilities | 660,000 |
Income Statement for the year ended 31 December 2023
| Item | Amount (£) |
|---|---|
| Revenue | 800,000 |
| Cost of sales | (520,000) |
| Gross profit | 280,000 |
| Operating expenses | (150,000) |
| Operating profit | 130,000 |
| Interest expense | (10,000) |
| Profit before tax | 120,000 |
| Tax | (24,000) |
| Profit for the year | 96,000 |
Additional info: Number of ordinary shares = 300,000. Market price per share = £3.20.
1. Current Ratio Calculation | 流动比率计算
The current ratio measures a firm’s ability to meet its short-term obligations using its current assets. It is a key test of liquidity. From the data, current assets total £160,000 and current liabilities are £110,000.
流动比率衡量企业用流动资产偿还短期债务的能力。这是流动性的一项关键检验。根据数据，流动资产总额为160,000英镑，流动负债为110,000英镑。
Current Ratio = Current Assets ÷ Current Liabilities
Current Ratio = 160,000 ÷ 110,000 = 1.45 : 1
流动比率 = 160,000 ÷ 110,000 = 1.45 : 1
A result of 1.45:1 means the business has £1.45 of current assets for every £1 of current liabilities. This indicates a comfortable liquidity position, as the ratio is above the commonly quoted benchmark of 1.5:1, though it is slightly below that threshold.
1.45:1 的结果意味着企业每1英镑的流动负债对应1.45英镑的流动资产。这表明流动性状况比较稳健，虽然略低于常见的1.5:1基准，但仍在可接受范围内。
2. Quick Ratio (Acid Test) Calculation | 速动比率（酸性测试）计算
The quick ratio excludes inventory from current assets, because inventory may not be easily converted into cash. It therefore provides a stricter measure of liquidity. Quick assets = Current assets – Inventory = £160,000 – £80,000 = £80,000
Published by TutorHao | A-Level 商务 Revision Series | aleveler.com
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