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A skeleton of Athol Country Florists balance sheet appears as follows (amounts in thousands): Balance Sheet (Statement of financial position) Cash R85 Total current liabilities
A skeleton of Athol Country Florists balance sheet appears as follows (amounts in thousands): Balance Sheet (Statement of financial position)
Cash | R85 | Total current liabilities | R1 900 |
Receivables | a) | Longterm debt | e) |
Inventories | R762 | Other longterm liabilities | R720 |
Prepaid expenses | b) | ||
Total currentassets | c) | ||
PPE | d) | Share capital | R185 |
Other assets | R2 100 | Retained earnings | R3 465 |
Total assets | R7 300 | Total liabilities and equity | f) |
Use the following ratio data to complete Athol Country Florists balance sheet:
- Debt ratio is 0.50
- Current ratio is 1.30
- Acid-test ratio is 0.40
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