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 |
Assets Liabilities + Equity
cash 6000 A/P 6000
AR________ Notes Payable_______
Inventory_______ Accrued Expenses 600
Prepaid Expenses_____ Total Current Liabilities______
Total Current Assets_______ Bonds Payable__________
Fixed Assets___________ Common Stock 16,000
Total Assets_________ Retained Earnings________
Total liabilities + Equity_________
There is no information missing, this is the entire questions. Thanks,
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