Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Canon Sdn Bhd Balance Sheet as at 31 December 2020 Cash 100,000 Notes Payable Q Accounts Receivable Q Accounts payable 80,000 Inventory Q Total Current

Canon Sdn Bhd

Balance Sheet as at 31 December 2020

Cash

100,000

Notes Payable

Q

Accounts Receivable

Q

Accounts payable

80,000

Inventory

Q

Total Current Liabilities

Q

Total Current Assets

300,000

Long Term Debt

Q

Fixed Assets

400,000

Common Equity

Q

Total Assets

700,000

Total Liabilities and equity

700,000

Additional information:

Sales RM500,000

Average Collection Period 120 days

Debt Ratio 50%

Current Ratio 2.5X

Based on the information above, fill up the total amounts of each of the item marked as Q in the above said balance sheet for year ending 31 December 2020

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

Step: 3

blur-text-image

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

An Introduction to Investment Banks, Hedge Funds, and Private Equity

Authors: David P. Stowell

1st edition

978-0123745033, 0123745039, 978-9380931074

More Books

Students also viewed these Finance questions