Question
The Griggs Corporation has credit sales of $928,200 total asset turnover 2.60 times cash to total assets 1.60% A/R turnover 20 times Inventory turnover 14
The Griggs Corporation has credit sales of $928,200
total asset turnover 2.60 times
cash to total assets 1.60%
A/R turnover 20 times
Inventory turnover 14 times
current ratio 1.62 times
debt to total assets 50%
Using the above ratios, complete the balance sheet
Grigg Corporation
Balance Sheet 2011
Assets
Cash....
Account receivable....
Inventory....
Total current assets ....
Fixed assets.....
Total assets....
Liabilities and stockholder equity
current debt....
long-term debt...
Total debt
Equity
Total debt and stockholder equity...
This was already done on Chegg with same #s but the expert divided the inventory by 10, not 14times?????? Please help
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Accounting For Beginners Learn Easy And Fast Accounting Principles
Authors: Dan Wilson
1st Edition
1700199900, 978-1700199904
