On a separate sheet of paper, or using a spreadsheet, create a balance sheet for Tropical Aquaculture,
Question:
On a separate sheet of paper, or using a spreadsheet, create a balance sheet for Tropical Aquaculture, a farm for shrimp, using the information below. Calculate and analyze the quick, debt, and debt-to-equity ratios.
Cash | $ 45,000 |
Accounts receivable | $ 12,000 |
Shrimp feed | $ 8,400 |
Accounts payable | $ 9,700 |
Equipment | $ 75,000 |
Bank loan | $ 20,000 |
Property and ponds | $124,000 |
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Entrepreneurship & Small Business Management
ISBN: 978-0133767186
2nd edition
Authors: Steve Mariotti, Caroline Glackin
Question Posted: