Create a balance sheet and income statement The company maintains a cash balance equal to 1 of sales KAPE Cups current and quick ratio were 2 and 0 75, respectively The company took about 18 25 days to collect its credit sales and 36 5 days to sell coffee beans from the acquisition date Its total asset turnover was 2 5 Total fixed assets, net of accumulated depreciation was 37 5 of total assets Total liabilities for the year went up to 65 of total assets due to the 2019 acquisition of a long term debt that paid 25 annual interest The entire principal was still outstanding in 2019 The company paid P61,762 50 worth of interest during the year which was earned 2 2222 times in 2019 Accrued expenses amounted P27,450 while retained earnings amounted P119,400 in 2019 Selling expense was 20 of cost of goods sold while general and administrative expense was 18 of sales KAPE cups return on total assets was 13 75 Gross profit and net profit margin were 40 and 5 5 , respectively EPS in 2019 was computed to be 7 54875 Outstanding shares of stocks 10,000 P5 per share KAPE Cups had utilized the following account titles since 2019 cash, accounts receivable, inventory, prepaid expenses, fixed assets net, other non current assets, accounts payable, accrued expenses, long term debt, common stock, additional paid in capital, and retained earnings, sales, cost of goods sold, selling expenses, general and administrative expenses, interest expense (Use ending balances as your average )

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Posted on Sep 07, 2024

Create a balance sheet and income statement: The company maintains a cash balance equal to 1% of sales KAPE Cups current and quick ratio were

Create a balance sheet and income statement:

The company maintains a cash balance equal to 1% of sales
KAPE Cups current and quick ratio were 2 and 0.75, respectively
The company took about 18.25 days to collect its credit sales and 36.5 days to sell coffee beans from the acquisition date. Its total asset turnover was 2.5
Total fixed assets, net of accumulated depreciation was 37.5% of total assets
Total liabilities for the year went up to 65% of total assets due to the 2019 acquisition of a long-term debt that paid 25% annual interest. The entire principal was still outstanding in 2019
The company paid P61,762.50 worth of interest during the year which was earned 2.2222 times in 2019
Accrued expenses amounted P27,450 while retained earnings amounted P119,400 in 2019
Selling expense was 20% of cost of goods sold while general and administrative expense was 18% of sales
KAPE cups return on total assets was 13.75%. Gross profit and net profit margin were 40% and 5.5%, respectively. EPS in 2019 was computed to be 7.54875.
Outstanding shares of stocks 10,000 @P5 per share.

KAPE Cups had utilized the following account titles since 2019: cash, accounts receivable, inventory, prepaid expenses, fixed assets net, other non-current assets, accounts payable, accrued expenses, long term debt, common stock, additional paid in capital, and retained earnings, sales, cost of goods sold, selling expenses, general and administrative expenses, interest expense. (Use ending balances as your average.)