Question
In: Finance
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.5x...
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.5x
Days sales outstanding: 39 daysa
Inventory turnover ratio: 7x
Fixed assets turnover: 2.5x
Current ratio: 1.5x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
15%
aCalculation is based on a 365-day year. Do not round
intermediate calculations. Round your answer to the nearest
cent.
| Balance Sheet | ||||
| Cash | $ | Current liabilities | $ | |
| Accounts receivable | Long-term debt | 48,750 | ||
| Inventories | Common stock | |||
| Fixed assets | Retained earnings | 97,500 | ||
| Total assets | $325,000 | Total liabilities and equity | $ | |
| Sales | $ | Cost of goods sold | $ | |
Solutions
jeff jeffy answered 2 years agoRelated Solutions
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3×...
Complete the balance sheet and sales information using the
following financial data: Total assets turnover: 1.3× Days sales
outstanding: 73.0 daysa Inventory turnover ratio: 5× Fixed assets
turnover: 3.0× Current ratio: 2.0× Gross profit margin on sales:
(Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a
365-day year. Do not round intermediate calculations. Round your
answers to the nearest dollar. Balance Sheet Cash $ Current
liabilities $ Accounts receivable Long-term debt 48,000 Inventories
Common stock Fixed...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x...
Complete the balance sheet and sales information using the
following financial data: Total assets turnover: 1.4x Days sales
outstanding: 36.5 daysa Inventory turnover ratio: 4x Fixed assets
turnover: 3x Current ratio: 1.9x Gross profit margin on sales:
(Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a
365-day year. Do not round intermediate calculations. Round your
answer to the nearest cent. Balance Sheet Cash $ Current
liabilities $ Accounts receivable Long-term debt 50,000 Inventories
Common stock Fixed...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x...
Complete the balance sheet and sales information using the
following financial data: Total assets turnover: 1.4x Days sales
outstanding: 36.5 daysa Inventory turnover ratio: 4x Fixed assets
turnover: 3x Current ratio: 1.9x Gross profit margin on sales:
(Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a
365-day year. Do not round intermediate calculations. Round your
answer to the nearest cent. Balance Sheet Cash $ Current
liabilities $ Accounts receivable Long-term debt 50,000 Inventories
Common stock Fixed...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1×...
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.1×
Days sales outstanding: 73.0 daysa
Inventory turnover ratio: 4×
Fixed assets turnover: 3.0×
Current ratio: 2.5×
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
30%
aCalculation is based on a 365-day year.
Do not round intermediate calculations. Round your answers to
the nearest dollar.
Balance Sheet
Cash
$
Current liabilities
$
Accounts receivable
Long-term debt
67,500
Inventories
Common...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x...
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.2x
Days sales outstanding: 41.5 daysa
Inventory turnover ratio: 7x
Fixed assets turnover: 3x
Current ratio: 1.5x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
35%
aCalculation is based on a 365-day year. Do not round
intermediate calculations. Round your answers to the nearest
cent.
Balance Sheet
Cash
$
Current liabilities
$
Accounts receivable
Long-term debt
30,000
Inventories
Common...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.6x...
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.6x
Days sales outstanding: 30.5 daysa
Inventory turnover ratio: 5x
Fixed assets turnover: 3.5x
Current ratio: 1.7x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
25%
aCalculation is based on a 365-day year. Do not round
intermediate calculations. Round your answer to the nearest
cent.
Balance Sheet
Cash
$
Current liabilities
$
Accounts receivable
Long-term debt
75,000
Inventories
Common...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4×...
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.4×
Days sales outstanding: 36.5 daysa
Inventory turnover ratio: 5×
Fixed assets turnover: 3.0×
Current ratio: 2.0×
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
35%
aCalculation is based on a 365-day year.
Do not round intermediate calculations. Round your answers to
the nearest dollar.
Balance Sheet
Cash
$
Current liabilities
$
Accounts receivable
Long-term debt
60,000
Inventories
Common...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x...
Complete the balance sheet and sales information using the
following financial data: Total assets turnover: 1.1x Days sales
outstanding: 33 daysa Inventory turnover ratio: 3x Fixed assets
turnover: 3x Current ratio: 1.6x Gross profit margin on sales:
(Sales - Cost of goods sold)/Sales = 15% aCalculation is based on a
365-day year. Do not round intermediate calculations. Round your
answer to the nearest cent.
Balance Sheet:
Cash $ = ?
Current liabilities $ = ?
Accounts receivable = ?
Long-term...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1×...
Complete the balance sheet and sales information using the
following financial data: Total assets turnover: 1× Days sales
outstanding: 73.0 daysa Inventory turnover ratio: 4× Fixed assets
turnover: 2.5× Current ratio: 2.0× Gross profit margin on sales:
(Sales - Cost of goods sold)/Sales = 25% aCalculation is based on a
365-day year. Do not round intermediate calculations. Round your
answers to the nearest dollar. Balance Sheet Cash $ Current
liabilities $ Accounts receivable Long-term debt 66,000 Inventories
Common stock Fixed...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1×...
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.1×
Days sales outstanding: 73.0 daysa
Inventory turnover ratio: 5×
Fixed assets turnover: 3.0×
Current ratio: 2.5×
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
15%
aCalculation is based on a 365-day year.
Do not round intermediate calculations. Round your answers to
the nearest dollar.
Balance Sheet
Cash
$
Current liabilities
$
Accounts receivable
Long-term debt
67,500
Inventories
Common...
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