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Cash     $          30,000 Marketable securities   $          25,000 Accounts Receivable     Inventory       Total current Assets     Net Fixed Assets     Total Assets       Accounts Payable   $       120,000 Short-term Notes Payable   Accrued Liabilities   $          20,000 Total Current Liabilities   Long-Term Debt     Total Debt       Stockholder's Equity   $       600,000 Total Liabilites and Equity     Assumptions:     Sales = $1,825,000   Gross profit margin = 30% Inventory Turnover = 7.0 365 days per year   DSO = 40 days   Current ratio = 1.40   Total Asset Turnover = 1.25   Complete the Balance Sheet below based on the given information

Cash     $          30,000 Marketable securities   $          25,000 Accounts Receivable     Inventory       Total current Assets     Net Fixed Assets     Total Assets       Accounts Payable   $       120,000 Short-term Notes Payable   Accrued Liabilities   $          20,000 Total Current Liabilities   Long-Term Debt     Total Debt       Stockholder's Equity   $       600,000 Total Liabilites and Equity     Assumptions:     Sales = $1,825,000   Gross profit margin = 30% Inventory Turnover = 7.0 365 days per year   DSO = 40 days   Current ratio = 1.40   Total Asset Turnover = 1.25   Complete the Balance Sheet below based on the given information

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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Cash     $          30,000
Marketable securities   $          25,000
Accounts Receivable    
Inventory      
Total current Assets    
Net Fixed Assets    
Total Assets    

 

Accounts Payable   $       120,000
Short-term Notes Payable  
Accrued Liabilities   $          20,000
Total Current Liabilities  
Long-Term Debt    
Total Debt      
Stockholder's Equity   $       600,000
Total Liabilites and Equity  

 

Assumptions:    
Sales = $1,825,000  
Gross profit margin = 30%
Inventory Turnover = 7.0
365 days per year  
DSO = 40 days  
Current ratio = 1.40  
Total Asset Turnover = 1.25

 

Complete the Balance Sheet below based on the given information 
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