Cash $ 30,000 Marketable securities $ 25,000 Accounts Receivable Inventory Total current Assets Net Fixed Assets Total Assets Accounts Payable $ 120,000 Short-term Notes Payable Accrued Liabilities $ 20,000 Total Current Liabilities Long-Term Debt Total Debt Stockholder's Equity $ 600,000 Total Liabilites and Equity Assumptions: Sales = $1,825,000 Gross profit margin = 30% Inventory Turnover = 7.0 365 days per year DSO = 40 days Current ratio = 1.40 Total Asset Turnover = 1.25 Complete the Balance Sheet below based on the given information
Cash $ 30,000 Marketable securities $ 25,000 Accounts Receivable Inventory Total current Assets Net Fixed Assets Total Assets Accounts Payable $ 120,000 Short-term Notes Payable Accrued Liabilities $ 20,000 Total Current Liabilities Long-Term Debt Total Debt Stockholder's Equity $ 600,000 Total Liabilites and Equity Assumptions: Sales = $1,825,000 Gross profit margin = 30% Inventory Turnover = 7.0 365 days per year DSO = 40 days Current ratio = 1.40 Total Asset Turnover = 1.25 Complete the Balance Sheet below based on the given information
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 4PB
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Question
Cash | $ 30,000 | ||
Marketable securities | $ 25,000 | ||
Accounts Receivable | |||
Inventory | |||
Total current Assets | |||
Net Fixed Assets | |||
Total Assets |
Accounts Payable | $ 120,000 | ||
Short-term Notes Payable | |||
Accrued Liabilities | $ 20,000 | ||
Total Current Liabilities | |||
Long-Term Debt | |||
Total Debt | |||
$ 600,000 | |||
Total Liabilites and Equity |
Assumptions: | ||
Sales = $1,825,000 | ||
Gross profit margin = 30% | ||
Inventory Turnover = 7.0 | ||
365 days per year | ||
DSO = 40 days | ||
Total Asset Turnover = 1.25 |
Complete the Balance Sheet below based on the given information |
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