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Complete the balance sheet and sales data (fill in the blanks), using the following financial data: Debtet worth 60% Acid test ratio 1.2 Asset turnover
Complete the balance sheet and sales data (fill in the blanks), using the following financial data: Debtet worth 60% Acid test ratio 1.2 Asset turnover 1.5 times Day sales outstanding in accounts receivable 40 days Gross profit margin 30% Inventory turnover 6 times Balance sheet Cash Accounts receivable Inventories Plant & equipment Accounts payable Common stock RM15,000 Retained earnings RM22,000 Total assets Total liabilities & capital Sales Cost of goods sold
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