A). Long term debt for zooey corporation in 2020b.) total assets for zooey corporation in 2020c.net fixed assets for zooey corporation in 2020 Statement of Financial PositionZooey CorporationDecember 31, 2020CashP4,500Accounts PayableP10,000AccountsNotes PayableReceivableInventoryAccruals1,000Total CurrentTotal CurrentAssetsLiabilitiesNet FixedLong-Term DebtAssetsTotal AssetsStockholders'EquityTotal Liabilities &S.E.Information (2020 values)Sales totaled P110,000The gross profit margin was 25 percent.Inventory turnover was 3.0.There are 360 days in the year.The average collection period was 65 days.1.2.3.4.5.6.The current ratio was 2.40.7.The total asset turnover was 1.13.8.The debt ratio was 53.8 percent.

Assets are resources that are controlled which results from prior transactions that are expected to…

Answered: A). Long term debt for zooey…

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A). Long term debt for zooey corporation in 2020 b.) total assets for zooey corporation in 2020 c.net fixed a

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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