Complete the following balance sheet: Cash Accounts Payable A/R Long-term Liability $ 100 Inventories Ordinary...

Complete the following balance sheet:

Cash	Accounts Payable
A/R	Long-term Liability	$ 100
Inventories	Ordinary Share capital	$ 75
Building	Retained earnings	$ 50
Total Assets	Total Liabilities & SHE

Other information:

Quick Ratio - 2

Net Sales - $750

Asset Turnover Ratio - 3

Fixed Asset Turnover Ratio - 5

Receivable Turnover Ratio - 18.75

Solutions

Expert Solution

For any clarifications please comment.

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

BALANCE SHEET ASSETS LIABILITY AND EQUITY CASH 23 ACCOUNTS PAYABLE 1,245 CASH EQUIVALENTS 435...

BALANCE SHEET ASSETS LIABILITY AND EQUITY CASH 23 ACCOUNTS PAYABLE 1,245 CASH EQUIVALENTS 435 ACCRUED EXPENSES 1,549 ACCOUNTS RECEIVABLE 1,827 DEFFERED TAX LIABILITY 712 INVENTORY 2,876 PROPERTY,PLANT, EQUIP 3,567 LONG-TERM DEBT 3,678 TOTAL ASSESTS 8,728 PREFFERED STOCK 432 COMMON EQUITY 1,112 LIABILITIES AND EQUITY $8,728 INCOME STATEMENT REVENUES 7,493 OPERATING EXPENSES 6,321 INTEREST EXPENSE 221 INCOME BEFORE TAX 951 INCOME TAX 295 NET INCOME 656 PREFFERED DIVIDENDS 26 NET INCOME AVAILABLE TO COMMON 630 Reformulate the following balance...

Hurggasky, Inc.'s balance sheet is shown as follows: Cash: 460,000 Accounts receivable: 4,080,000 Inventories: 7,900,000 Long-term...

Hurggasky, Inc.'s balance sheet is shown as follows: Cash: 460,000 Accounts receivable: 4,080,000 Inventories: 7,900,000 Long-term debt: 11,140,000 Net property, plant, and equipment: 19,146,000 Common equity: 20,446,000 Total assets:31,586,000 Total debt and equity: 31,586,000 .Currently the price of the company's common stock is selling at a price the same as its book value, and the company's bonds are selling at par. The market's required rate of return for its stock is estimated to be 19 percent. The yield to maturity...

2019 Balance sheet for company XYZ Cash 3820 Accounts payable 13610 Receivables 9140 Long-term debt 32950...

2019 Balance sheet for company XYZ Cash 3820 Accounts payable 13610 Receivables 9140 Long-term debt 32950 Inventory 20390 Common stock 7500 Net fixed assets 51610 Retained earnings 30900 Total assets 84960 Total Liab. & Equity 84960 If the firm XYZ purchases inventory using cash that worth $1000 , what will be the Total assets after this transaction?

Balance Sheet Cash&MS- 30,000 Accruals- 20,000 Receivables- 70,000 Accounts Payable- 60,000 Inventories- 120,000 Notes Payable- 80,000...

Balance Sheet Cash&MS- 30,000 Accruals- 20,000 Receivables- 70,000 Accounts Payable- 60,000 Inventories- 120,000 Notes Payable- 80,000 Fixed Assets- 480,000 L-T Liabilities- 140,000 Total Assets= 700,000 Common Equity- 400,000 Annual Sales- 1,400,000 Cost of Goods Sold- 960,000 Net Income- 63,000 Number of Shares Outstanding- 30,000 What is the current ratio, debt ratio, total asset turnover ratio of the firm? What is the days sales outstanding (DSO) of the firm? (Use a 360-day year.) What is the profit margin of the firm?...

ABC Corp. Balance Sheet As of December 31, 2018 Assets Liability Cash $6,000 Accounts Payable $3,000...

ABC Corp. Balance Sheet As of December 31, 2018 Assets Liability Cash $6,000 Accounts Payable $3,000 Accounts Receivable $4,000 Stockholders' Equity Common Stock $3,000 Retained Earnings $4,000 Total Liability and Stockholders' Equity Total Assets $10,000 $10,000 1. On January 1st, 2019, ABC Corp bought an equipment for $2,000. The equipment has a useful life of 5 years and has a salvage value of $500. The company uses double-declining depreciation method. 2. On March 1 st, 2019, ABC Corp received $2,400...

ABC Corp. Balance Sheet As of December 31, 2018 Assets Liability Cash $6,000 Accounts Payable $3,000...

ABC Corp. Balance Sheet As of December 31, 2018 Assets Liability Cash $6,000 Accounts Payable $3,000 Accounts Receivable $4,000 Stockholders' Equity Common Stock $3,000 Retained Earnings $4,000 Total Liability and Stockholders' Equity Total Assets $10,000 $10,000 On January 1st, 2019, ABC Corp bought an equipment for $2,000. The equipment has a useful life of 5 years and has a salvage value of $500. On May 1st, 2018, ABC Corp received $1,200 cash for services to be performed in the future....

1) If a notes payable is reclassified from a long-term liability to a short-term liability, then...

1) If a notes payable is reclassified from a long-term liability to a short-term liability, then A The amount of total liabilities stays the same B The total liabilities increase C Current liabilities decrease D Long-term liabilities decrease 2) On October 1, 2025, Conway, Inc. borrowed $300,000 by signing a nine-month, 6% note payable. Interest was accrued on December 31, 2025. What is the journal entry on July 1, 2026, the date the note was paid? 3) Jackson Company pays...

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 $...

Auditing the accounts payable balance on the balance sheet

When auditing the accounts payable balance on the balance sheet, an auditor’s procedures most likely would focus primarily on management’s assertion of Select one:a. Existenceb. Rights and obligationsc. Presentation and disclosured. Completeness.

A firm has the following balance sheet: Assets Liabilities and Equity Cash $ 5,000 Accounts payable...

A firm has the following balance sheet: Assets Liabilities and Equity Cash $ 5,000 Accounts payable $ 5,000 Accounts receivable 153,000 Long-term debt 109,000 Inventory 89,000 Common stock ($8 par; 32,000 4,000 shares outstanding) Plant and equipment 190,000 Additional paid-in capital 148,000 Retained earnings 143,000 $437,000 $437,000 Construct a new balance sheet showing the impact of a four-for-one split. If the current market price of the stock is $55, what is the price after the split? Round the par value...

Subjects