Balance sheet completion using financial ratios. Complete the 2003 balance sheet for Sometimes Industries using the information that follows it. Sometimes Industries Balance Sheet December 31, 2003 Liabilities and Stockholders' Equity Accounts payable Notes payable Assets Cash P30,000 P120,000 Marketable securities 25,000 Accounts receivable Accruals 20,000 Inventories Total current liabilities Long-term debt Stockholders' equity Total current assets Net fixed assets P600,000 Total Assets Total liabilities and stockholders' equity The following financial data for 2003 are also available: 1. Sales totalled P1,800,000 2. The gross profit margin was 25% 3. Inventory turnover was 6.0 4. There are 360 days in the year 5. The average collection period was 40 days 6. The current ratio was 1.60 7. The total asset turnover ratio was 1.20 8. The debt ratio was 60% The Accounts receivable is Your answer The inventories is Your answer The Total Current Assets is Your answer The Net Fixed Assets is Your answer The Total Assets is Your answer
Balance sheet completion using financial ratios. Complete the 2003 balance sheet for Sometimes Industries using the information that follows it. Sometimes Industries Balance Sheet December 31, 2003 Liabilities and Stockholders' Equity Accounts payable Notes payable Assets Cash P30,000 P120,000 Marketable securities 25,000 Accounts receivable Accruals 20,000 Inventories Total current liabilities Long-term debt Stockholders' equity Total current assets Net fixed assets P600,000 Total Assets Total liabilities and stockholders' equity The following financial data for 2003 are also available: 1. Sales totalled P1,800,000 2. The gross profit margin was 25% 3. Inventory turnover was 6.0 4. There are 360 days in the year 5. The average collection period was 40 days 6. The current ratio was 1.60 7. The total asset turnover ratio was 1.20 8. The debt ratio was 60% The Accounts receivable is Your answer The inventories is Your answer The Total Current Assets is Your answer The Net Fixed Assets is Your answer The Total Assets is Your answer
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Balance sheet completion using financial ratios.
Complete the 2003 balance sheet for Sometimes Industries using the information that follows it.
Sometimes Industries
Balance Sheet
December 31, 2003
Assets
Liabilities and Stockholders' Equity
Cash
P30,000
Accounts payable
Notes payable
$120,000
Marketable securities
25,000
Accounts receivable
Accruals
20,000
Inventories
Total current liabilities
Long-term debt
Stockholders' equity
Total current assets
Net fixed assets
P600,000
Total Assets
Total liabilities and stockholders
equity
The following financial data for 2003 are also available:
1. Sales totalled P1,800,000
2. The gross profit margin was 25%
3. Inventory turnover was 6.0
4. There are 360 days in the year
5. The average collection period was 40 days
6. The current ratio was 1.60
7. The total assetturnover ratio was 1.20
8. The debt ratio was 60%
The Accounts receivable is
Your answer
The inventories is
Your answer
The Total Current Assets is
Your answer
The Net Fixed Assets is
Your answer
The Total Assets is
Your answer
The Notes Payable is
Your answer
The Total Current Liabilities is
Your answer
The Long Term Debts is
0.
The Total Liabilities and Stockholder's
Equity is
Your answer
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