Cash $30,000 Accounts receivable 63,800 Accounts payable 52,500 Short-term notes payable 11,000 Inventories 66,000 Gross fixed...

Cash	$30,000
Accounts receivable	63,800
Accounts payable	52,500
Short-term notes payable	11,000
Inventories	66,000
Gross fixed assets	1,061,000
Accumulated depreciation	86,000
Long-term debt	210,000
Common stock	480,000
Other assets	25,000
Retained earnings	?

Complete the part of the common-sized balance sheet below. (Round to one decimal place.

NOTE:

Input the Accumulated depreciation account as a negative value.)

Common-sized Balance Sheet
ASSETS
Cash	$	30,000	%
Accounts receivable		63,800
Inventories		66,000
Total current assets	$	159,800	%
Gross fixed assets	$	1,061,000	%
Accumulated depreciation		(86,000)
Net fixed assets	$	975,000	%
Other assets		25,000
Total assets	$	1,159,800

Solutions

Expert Solution

* reference formula = % of Cash = cash / Total assets (This formula applies to all asset items accordingly)

Please comment if you face any difficulty and please dont forget to upvote

jeff jeffy answered 1 year ago

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Cash ​$30,000 Accounts receivable 63,800 Accounts payable 52,500 ​Short-term notes payable 11,000 Inventories 66,000 Gross fixed...

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