Complete the 20xx balance sheet for ABD Industries using the information that follows it.Balance SheetAssetsCash32,700Marketable Securities25,000Accounts receivableaInventoriesbTotal current assetsNet fixed assetseTotal assetsLiabilities and Stockholders' EquityAccounts payable120,000Notes payableAccruals20,000Total current liabilitiesLong-term debtiTotal liabilitieshStockholders' equity600,000Total liabilities and stockholders' equityThe following financial data are also available:а.Sales totaled PhP1,800,000b.The gross profit margin was 25%.С.Inventory turnover was 6.0.d.There are 365 days in the year.е.The average collection period was 40 days.f.The current ratio was 1.60g.The total asset turnover ratio was 1.20.h.The debt ratio was 60%

Name: Complete the 20xx balance sheet for ABD Industries using the informat
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Description: Complete the 20xx balance sheet for ABD Industries using the information that follows it.Balance SheetAssetsCash32,700Marketable Securities25,000Accounts receivableaInventoriesbTotal current assetsNet fixed assetseTotal assetsLiabilities and Stockho

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Complete the 20xx balance sheet for ABD Industries using the information that follows it. Balance Sheet Assets Cash 32,700 Marketable Securities 25,000 Accounts receivable Inventories b Total current assets Net fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable 120,000 Notes payable Accruals 20,000 Total current liabilities f Long-term debt Total liabilities h Stockholders' equity 600,000 Total liabilities and stockholders' equity The following financial data are also available: a. Sales totaled PHP1,800,000 b. The gross profit margin was 25%. Inventory turnover was 6.0. There are 365 days in the year. с. d. е. The average collection period was 40 days. f. The current ratio was 1.60 g. The total asset turnover ratio was 1.20. h. The debt ratio was 60%

Complete the 20xx balance sheet for ABD Industries using the information that follows it. Balance Sheet Assets Cash 32,700 Marketable Securities 25,000 Accounts receivable Inventories b Total current assets Net fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable 120,000 Notes payable Accruals 20,000 Total current liabilities f Long-term debt Total liabilities h Stockholders' equity 600,000 Total liabilities and stockholders' equity The following financial data are also available: a. Sales totaled PHP1,800,000 b. The gross profit margin was 25%. Inventory turnover was 6.0. There are 365 days in the year. с. d. е. The average collection period was 40 days. f. The current ratio was 1.60 g. The total asset turnover ratio was 1.20. h. The debt ratio was 60%

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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