(a) Following are the partial balance sheet and some assumptions for Kiri-Kanan Company for 2021. Gross profit margin = 50% Inventory turnover 5 Sales (2021) = = RM3,000 Assets Cash Accounts receivables Inventory Net fixed assets Total assets ? RM40 2 RM500 RM900 Cash Accruals Inventory Based on the information provided, calculate Kiri-Kanan's (1) (11) Liabilities & Equity Accounts payables Accruals Long-term debt Total Liabilities & Equity Current ratio Equity Total Liabilities & Equity (1) (iv) (v) (vi) Quick Ratio (Complete the balance sheet table and show all steps of calculations) 4 RM50 ? RM400 250 ?
(a) Following are the partial balance sheet and some assumptions for Kiri-Kanan Company for 2021. Gross profit margin = 50% Inventory turnover 5 Sales (2021) = = RM3,000 Assets Cash Accounts receivables Inventory Net fixed assets Total assets ? RM40 2 RM500 RM900 Cash Accruals Inventory Based on the information provided, calculate Kiri-Kanan's (1) (11) Liabilities & Equity Accounts payables Accruals Long-term debt Total Liabilities & Equity Current ratio Equity Total Liabilities & Equity (1) (iv) (v) (vi) Quick Ratio (Complete the balance sheet table and show all steps of calculations) 4 RM50 ? RM400 250 ?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 48CE
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