Question
Balance Sheet as 31 st December 2019 Current Assets Current Liabilities Cash 24,255 Accounts Payable 27,420 Accounts Receivables 15,235 Notes Payable 10,800 Inventory 27,155 Others
Balance Sheet as 31st December 2019
Current Assets
Current Liabilities
Cash
24,255
Accounts Payable
27,420
Accounts Receivables
15,235
Notes Payable
10,800
Inventory
27,155
Others
15,553
Total
66,645
Total
53,773
Fixed Assets
Long Term Debt
95,000
Plant & Equipment
365,734
Owner's Equity
40,000
Retained Earnings
243,606
Total
283,606
Total Assets
432,379
Total Liabilities + OE
432,379
Income Statement
Sales
366,996
Cost of Goods sold
253,122
Depreciation
32,220
EBIT
81,654
Interest Paid
14,300
Taxable Income
67,354
Taxes 35%
23,574
Net Income
43,780
Dividends
20,000
Addition to Retained Earnings
23,780
a)Current Ratio?
b)Total assets turnover ratio?
c)Debt to Equity Ratio?
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Payroll Accounting
Authors: Bernard J. Bieg, Judith Toland
21st Edition
1111531056, 978-1111531058
