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please answer question in 10 minutes At year-end 2002. Yung.com had notes payable of $1200, accounts payable of $2400, and long-term debt of $1000. Corresponding
please answer question in 10 minutes
At year-end 2002. Yung.com had notes payable of $1200, accounts payable of $2400, and long-term debt of $1000. Corresponding entries for 2003 are $1600, $2000, and $1000. Asset values are below. During 2003, Yung.com had sales of $9000, cost of goods sold of $400, depreciation of $100, and interest paid of $150. The average) tax rate is 21% and all taxes are paid currently. Current Asset 2002 2003 Cash $500 $500 Marketable securities 400 300 Accounts receivable 900 800 Inventory 1800 2000 Fixed Assets Net Fixed Asset (Plant&Equipment) $7000 $8000 (Keep the sign and two decimal In 2003, the Days Sales Outstanding is numbers. Use 365 days for a year.) Step by Step Solution
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