What accounting concepts are used in the balance sheet (mainly on assets) based on the data provided below? 20192020AssetsCash & Short Investments6.75%6.479%Accounts Receivable5.97%6.25%Inventories6.76%5.91%2.29%21.77%1.20%Other Current Assets2.24%TOTAL CURRENT ASSETS20.86%Net Property, Plant & Equipment11.78%Total Investments and Advances5.679556.14%Long-Term Note ReceivableIntangible Assets2.70%4.25%2.229%2.02%Other Assets4.61%4.95%TOTAL LONG-TERM ASSETS78.23%79.14%TOTAL ASSETS100.00%100.00%LiabilitiesST Debt &Current Portion LT Debt4.32%7.07%Accounts Payable7.54%6.77%Income Tax Payable0.279%0.22%Other Current Liabilities5.10%5.61%TOTAL CURRENT LIABILITIES17.24%19.67%31.11%0.57%Long-Term Debt29.48%Deferred Taxes0.65%Other Liabilities4.10%3.90%TOTAL LIABILITIES53.01%53.71%EquityShareholder's Equity33.53%13.45%33.11%Accumulated Minority Interest13.19%TOTAL EQUITY46.99%46.29%TOTAL LIABILITIES & SHAREHOLDERS' EQUITY100%100% 1.26$248,357,000P196,719,000Current Ratio1.06254,511,000P239,957,000Current AssetsCurrent Liabilities0.879248,357,000977,120,000$196,719,000Acid Ratio0.76Current AssetsP254,511,000972,056,000P239,957,000InventoryCurrent LiabilitiesAsset Management RatiosInventory Turnover Ratio3.603.92P259,593,000$302,612,00077,120,000Cost of SalesInventory72,056,000Accounts Receivable Turnover Ratio4.95%P377,149,000976,222,0006.99%9475,931,000968,109,000Net SalesAverage Accounts Receivable40.60%P377,149,00053.43%9475,931,000P890,766,000Fixed Assets Turnover RatioNet SalesAverage Fixed Assets9929,014,000

Accounting Concepts are:- 1)Entity Concept 2)Money Measurement Concept 3)Periodicity Concept…

ts & Short Investments 6.75% 6.4 5.97% 6.76% unts Receivable 6.2 ntories r Current Assets AL CURRENT ASSETS Property, Plant & Equipment 5.9 2.29% 2.2 21.77% 20.8 1.20% 11.7 Investments and Advances 5.67% 56.1 -Term Note Receivable 2.70% 4.2 gible Assets 2.22% 2.0 r Assets 4.61% 4.9 AL LONG-TERM ASSETS 78.23% 79.1 AL ASSETS 100.00% 100.0 lities 4.32% 7.54% ebt &Current Portion LT Debt 7.0 unts Payable me Tax Payable 6.7 0.27% 0.2

ts & Short Investments 6.75% 6.4 5.97% 6.76% unts Receivable 6.2 ntories r Current Assets AL CURRENT ASSETS Property, Plant & Equipment 5.9 2.29% 2.2 21.77% 20.8 1.20% 11.7 Investments and Advances 5.67% 56.1 -Term Note Receivable 2.70% 4.2 gible Assets 2.22% 2.0 r Assets 4.61% 4.9 AL LONG-TERM ASSETS 78.23% 79.1 AL ASSETS 100.00% 100.0 lities 4.32% 7.54% ebt &Current Portion LT Debt 7.0 unts Payable me Tax Payable 6.7 0.27% 0.2

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 14E: Future Values and Long-Term Investments Portman Corporation engaged in the following transactions...

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