The following data (dollar amounts in millions) are taken from the financial statements of Quantrill Industries, Inc.:

Question:

The following data (dollar amounts in millions) are taken from the financial statements of Quantrill Industries, Inc.:

Total liabilities .................................... $11,800
Total current assets .......................... $11,900
Accumulated depreciation ............... $ 2 ,100
Debt ratio................................................... 40%
Current ratio ............................................ 1.70


Requirement

1. Complete the following condensed balance sheet. Report amounts to the nearest million dollars.

(In millions) Current assets.... Property, plant, and equipment. Less: Accumulated depreciation. Total assets .. Current

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

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