Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

78529 Complete the balance sheet and sales data (fill in the blanks) using the following financial data [10 Marks] Debt/equity ratio = 0.80; Acid-test

image text in transcribed

78529 Complete the balance sheet and sales data (fill in the blanks) using the following financial data [10 Marks] Debt/equity ratio = 0.80; Acid-test ratio = 1.1; Total assets turnover ratio = 2; Days' sales outstanding tin trade receivables = 30 days; Cost of goods sold as a percentage of total revenues = 70 per cent; Inventory turnover ratio = 6 times; Other Income = Nil You are required Revenue from operation Revenue from operation 78525 2022/10/09 Balance Sheet Balance Sheet Equity capital Rs. 80,000 Retained earnings Rs. 50,000 Debt Total L+OE Plant and equipment Inventories Trade receivables Cash and cash equivalents Total Assets

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng

11th edition

538480289, 978-0538480284

More Books

Students also viewed these Accounting questions

Question

What do you think the natural cause of your problem is?

Answered: 1 week ago