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Can someone show me how to fill in the balance sheet? Please use the information and format below! Thank you! Brian Medows owns and operates
Can someone show me how to fill in the balance sheet?
Please use the information and format below! Thank you!
Brian Medows owns and operates a Toy Store. He has a small shop in which he sells new and vintage toys. He is particularly known for his collection of vintage toys from the 1950's and 1960's. A completed spreadsheet is provided indicating that Brian made no additional inventments during the year and the long term payable that is due. No portion of the long term investment is due within the next year. Net Credit sales were 48,000 and the recievables on January 1 were 4,000 You are to prepare the following: 1. A multiple-step income statement 2. A statement of owner's equity 3. A balance sheet 4. Compute the following measures of performance and financial condition for 20XX a. Current Ratio b. Quick Ratio c. Working Capital d. Return on owner's equity e. Accounts receivable turnover and the average number of days required to collect receivables f. Inventory turnover and the averge number of days required to sell inventory Brian Medows owns and operates a Toy Store. He has a small shop in which he sells new and vintage toys. He is particularly known for his collection of vintage toys from the 1950's and 1960's. A completed spreadsheet is provided indicating that Brian made no additional inventments during the year and the long term payable that is due. No portion of the long term investment is due within the next year. Net Credit sales were 48,000 and the recievables on January 1 were 4,000 You are to prepare the following: 1. A multiple-step income statement 2. A statement of owner's equity 3. A balance sheet 4. Compute the following measures of performance and financial condition for 20XX a. Current Ratio b. Quick Ratio c. Working Capital d. Return on owner's equity e. Accounts receivable turnover and the average number of days required to collect receivables f. Inventory turnover and the averge number of days required to sell inventoryStep by Step Solution
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