Question
From the values of the different ratios that follow, calculate the missing balance sheet items and complete the balance sheet. Sales $100,000 Average Collection Period
From the values of the different ratios that follow, calculate the missing balance sheet items and complete the balance sheet.
Sales $100,000
Average Collection Period 55 days
Inventory turnover 15
Debt to Assets ratio .4 or 40%
Current Ratio 3
Total Asset Turnover 1.6
Fixed Asset Turnover 2.9
Cash 6,000
Account Receivable ?
Inventory ?
Prepaid Expenses ?
Total Current Assets ?
Fixed Assets ?
Total Assets ?
Account Payable 6,000
Notes Payable ?
Accrued Expenses 600
Total Current Liabilities ?
Bonds Payable ?
Common Stock 16,000
Retained Earnings ?
Total Liabilities + Equity ?
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Financial Management For Decision Makers
Authors: Peter Atrill
7th Edition
129201606X, 978-1292016061
