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answer numbers 2,3,4,6

answer numbers 2,3,4,6

FINANCIAL ACCOUNTING
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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answer numbers 2,3,4,6

(In Pesos) Annual Credit Sales 1,800,000 Cash 32,720 Gross Profit Margin 25% Marketable Sec. 25,000 Inventory Turnover 6 Accounts Receivable 1. ? No. of days in a year 365 Inventories 2. ? Average Collection Period 45 days Total Current Assets 3. ? Current Ratio 1.6 Net Fixed Assets 4. ? Total Asset Turnover Ratio 1.2 Total Assets 5. ? Debt ratio 60% Accounts Payable 120,000 Notes Payable 6. ? Accruals 20,000 Gross Profit 7. ? Total Current Liabilities 8. ? Long Term Debt 9. ? *ALL SALES ARE CREDIT Stockholders' Equity 600,000 SALES Total Liab, And Equity 10. ?
Transcribed Image Text:(In Pesos) Annual Credit Sales 1,800,000 Cash 32,720 Gross Profit Margin 25% Marketable Sec. 25,000 Inventory Turnover 6 Accounts Receivable 1. ? No. of days in a year 365 Inventories 2. ? Average Collection Period 45 days Total Current Assets 3. ? Current Ratio 1.6 Net Fixed Assets 4. ? Total Asset Turnover Ratio 1.2 Total Assets 5. ? Debt ratio 60% Accounts Payable 120,000 Notes Payable 6. ? Accruals 20,000 Gross Profit 7. ? Total Current Liabilities 8. ? Long Term Debt 9. ? *ALL SALES ARE CREDIT Stockholders' Equity 600,000 SALES Total Liab, And Equity 10. ?
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