Question
Complete the December 31, 2012 balance sheet for Mesebo Cement Factory information that follows: (1 each) Mesebo Cement Factory Balance Sheet December 31, 2012 Cash
- Complete the December 31, 2012 balance sheet for Mesebo Cement Factory information that follows: (1 each)
Mesebo Cement Factory
Balance Sheet
December 31, 2012
Cash $50,000 Accounts payable $120,000
Marketable Securities 30,000 Notes Payable (F)
Accounts Receivable (A) Accrual (G)
Inventories (B) Total Current Liabilities (H)
Total Current asset (C) Long term Liability (I)
Net Fixed Assets (D) Stockholders' Equity 600,000
Total Assets (E) Total Equities (J)
- Additional Information
A.Sales totaled $1,800,000
B.The gross profit margin was 25%
C.Inventory turnover was 6 times
D.There are 360 days in the year
E.The average collection period was 40 days
F.The current ratio was 1.6 times
G.The total assets turnover ratio was 1.2 times
H.The debt ratio was 60%
I.G=25%F
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started