Statement of Financial Position Zooey Corporation December 31, 2020 Cash P4,500 Accounts Payable P10,000 Accounts Notes Payable Receivable Inventory Accruals 1,000 Total Current Total Current Assets Liabilities Net Fixed Long-Term Debt Assets Total Assets Stockholders' Equity Total Liabilities & S.E. Information (2020 values) Sales totaled P110,000 The gross profit margin was 25 percent. Inventory turnover was 3.0. There are 360 days in the year. The average collection period was 65 days. 1. 2. 3. 4. 5. 6. The current ratio was 2.40. 7. The total asset turnover was 1.13. 8. The debt ratio was 53.8 percent.
Statement of Financial Position Zooey Corporation December 31, 2020 Cash P4,500 Accounts Payable P10,000 Accounts Notes Payable Receivable Inventory Accruals 1,000 Total Current Total Current Assets Liabilities Net Fixed Long-Term Debt Assets Total Assets Stockholders' Equity Total Liabilities & S.E. Information (2020 values) Sales totaled P110,000 The gross profit margin was 25 percent. Inventory turnover was 3.0. There are 360 days in the year. The average collection period was 65 days. 1. 2. 3. 4. 5. 6. The current ratio was 2.40. 7. The total asset turnover was 1.13. 8. The debt ratio was 53.8 percent.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 103.1C: Leverage Cook Corporation issued financial statements at December 31, 2019, that include the...
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what is the net fixed assets for zooey corporation on 2020
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what is the long term debt for zooey corpoartion in 2020
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Transcribed Image Text:Statement of Financial Position
Zooey Corporation
December 31, 2020
Cash
P4,500
Accounts Payable
P10,000
Accounts
Notes Payable
Receivable
Inventory
Accruals
1,000
Total Current
Total Current
Assets
Liabilities
Net Fixed
Long-Term Debt
Assets
Total Assets
Stockholders'
Equity
Total Liabilities &
S.E.
Information (2020 values)
Sales totaled P110,000
The gross profit margin was 25 percent.
Inventory turnover was 3.0.
There are 360 days in the year.
The average collection period was 65 days.
1.
2.
3.
4.
5.
6.
The current ratio was 2.40.
7.
The total asset turnover was 1.13.
8.
The debt ratio was 53.8 percent.
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