Problem 13 (Statement of Financial Position Analysis)Complete the statement of financial position and sales information using thefollowing financial data:: 50%: 1.8 x: 1.5 x: 36.5 days (calculation is based on a 365-day year)Debt-to-assets ratioCurrent ratioTotal assets turnoverDay sales outstandingGross profit margin on sales : (Sales – Cost of goods sold) / Sales = 25%Inventory turnover ratio: 5x5 хStatement of Financial PositionLiabilities and Owners’ equityAccounts payableLong-term debtCommon stockRetained earningsAssetsCashAccounts receivableInventoriesFixed assetsP60,00097,5000Total liabilitiesand owners’ equityCost of goods soldTotal assetsP300,000Sales

Day’s sales outstanding is the ratio which measures the days required to collect cash from the…

Problem 13 (Statement of Financial Position Analysis) Complete the statement of financial position and sales information using the following financial data: Debt-to-assets ratio Current ratio Total assets turnover Day sales outstanding : 50% : 1.8 x : 1.5 x : 36.5 days (calculation is based on a 365- day year) : (Sales - Cost of goods sold) / Sales = 25% : 5x Gross profit margin on sales Inventory turnover ratio Statement of Financial Position Liabilities and Owners’ equity Accounts payable Long-term debt Common stock Retained earnings Assets Cash Accounts receivable Inventories Fixed assets P60,000 97,5000 Total liabilities and owners' equity Cost of goods sold P300,000 Total assets Sales

Problem 13 (Statement of Financial Position Analysis) Complete the statement of financial position and sales information using the following financial data: Debt-to-assets ratio Current ratio Total assets turnover Day sales outstanding : 50% : 1.8 x : 1.5 x : 36.5 days (calculation is based on a 365- day year) : (Sales - Cost of goods sold) / Sales = 25% : 5x Gross profit margin on sales Inventory turnover ratio Statement of Financial Position Liabilities and Owners’ equity Accounts payable Long-term debt Common stock Retained earnings Assets Cash Accounts receivable Inventories Fixed assets P60,000 97,5000 Total liabilities and owners' equity Cost of goods sold P300,000 Total assets Sales

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 4SEA: FINANCIAL RATIOS Based on the financial statements for Jackson Enterprises (income statement,...

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Question

100%

Problem 13 (Statement of Financial Position Analysis)
Complete the statement of financial position and sales information using the
following financial data:
: 50%
: 1.8 x
: 1.5 x
: 36.5 days (calculation is based on a 365-
day year)
Debt-to-assets ratio
Current ratio
Total assets turnover
Day sales outstanding
Gross profit margin on sales : (Sales – Cost of goods sold) / Sales = 25%
Inventory turnover ratio
: 5x
5 х
Statement of Financial Position
Liabilities and Owners’ equity
Accounts payable
Long-term debt
Common stock
Retained earnings
Assets
Cash
Accounts receivable
Inventories
Fixed assets
P60,000
97,5000
Total liabilities
and owners’ equity
Cost of goods sold
Total assets
P300,000
Sales

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