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KINDLY SHOW ALL THE WORKINGS IN DETAIL FOR EACH AND PREPARE THE BALANCE SHEET. THANKS! 1. James Corporation has sales of $1,800,000 and 25 percent
KINDLY SHOW ALL THE WORKINGS IN DETAIL FOR EACH AND PREPARE THE BALANCE SHEET. THANKS!
1. James Corporation has sales of $1,800,000 and 25 percent sales are for cash. Given the following ratios, fill in the balance sheet below. Total assets turnover 2.5 times Cash to total assets 3.0% Accounts receivable turnover 12 times Inventory Turnover 8 times Current ratio 3.5 times Debt to total assets 35.0% Here, Current assets are composed of cash, accounts receivable and inventory. a) What is the amount of Total assets? b) What is the amount of cash? c) What is the amount of Accounts receivable? d) What is the amount of Current liabilities? e) What is the amount of debt? f) What is the amount of owners' equity? g) What is the amount of inventory? h) What is the amount of fixed assets? i) What is the amount of Long term liabilities j) What is the amount of total debt and stock holders' equityStep by Step Solution
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