Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Home Insert Draw Page Layout Formulas Data Review View Developer. Tell Calibri 11 ' Paste Clipboard 8 x Balance Sheet 3 end of 4
Home Insert Draw Page Layout Formulas Data Review View Developer. Tell Calibri 11 ' Paste Clipboard 8 x Balance Sheet 3 end of 4 ASSETS 5 Current Assets 6 Cash at Bank 7 8 Accounts Receivable BI_yv A fx Font A B C D E Alignment Currency $% 900 Number G H Year O Year 1 Year 2 Year 3 Forecast Period Year 4 Year 5 Year 6 Year 7 $13,350 $12,500 9 AR turnover (days sales) 40.8 40.8 40.8 40.8 40.8 40.8 40.8 40.8 10 11 Total Current Assets 12 13 Fixed Assets 14 Gross PP&E 15 Less: Accumulated D&A $35,000 $0 16 Net PP&E (net of D&A) $35,000 17 18 TOTAL ASSETS 19 20 LIABILITIES 21 Current Liabilities 22 Accounts Payable 23 AP turnover (days sales) $8,500 27.8 27.8 27.8 27.8 27.8 27.8 27.8 27.8 24 25 Total Current Liabilities 26 27 Long Term Liabilities 28 Long Term Debt 29 Total Long Term Liabilities 30 31 EQUITY 32 Owner's Funds 33 Retained Earnings 34 TOTAL EQUITY 35 36 TOTAL LIABILITIES & EQUITY $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $2,350 37 38 39 40 41 error check
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