Complete the balance sheet and sales information in the table that follows for J. White Industries, using the following financial data: Total assets turnover: 1.7 Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 25% Total liabilities-to-assets ratio: 45% Quick ratio: 1.20 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales Cost of goods sold $ Balance Sheet Information Cash $ Accounts receivable Inventories Fixed assets Total assets $ 400,000 Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity $ $ 50,000 100,000

Complete the balance sheet and sales information in the table that follows for J. White Industries, using the following financial data: Total assets turnover: 1.7 Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 25% Total liabilities-to-assets ratio: 45% Quick ratio: 1.20 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales Cost of goods sold $ Balance Sheet Information Cash $ Accounts receivable Inventories Fixed assets Total assets $ 400,000 Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity $ $ 50,000 100,000

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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. The Balance Sheets and Profit and Loss accounts of Beximco Pharma Ltd during 1999-2000 are presented below. You are required to compute Current Ratio, Quick Ratio, Gross Profit Margin, Return on Common Equity, Inventory Turnover days, Accounts Receivable collection days, Accounts Payable T/O Days. I Beximco Pharma Ltd. Balance Sheets (In Taka) 1999 Profit & Loss Account Sales (Credit sales) 28,000 Cost of goods sold* 6,900 Gross Profit 11,700 Operating expenses 2,43,000 EBIT 5,00,000 Interest 2,15,000 Earnings before tax 55,000 Tax @ 30% EAIT (Net profit) 10,59,600 No. of shares 2000 1999 2000 Liabilities and Equity Accounts Payable Accrued expenses 7,50,000 9,50,000 23,000 7,100 2,50,000 3,50,000 5,00,000 6,00,000 Short-term bank loan 13,200 2,71,000 50,000 4,50,000 57,000 5,43,000 Debenture Equity Share Capital 5,00,000 65,000 72,000 4,71,000 1,41,000 General Reserves 2,05,000 52,000 3,85,000 Taxation Reserve 1,15,000 2,69,500 50,000 22,100 3,30,700 50,000 20,900 Total 10,71,300 *…
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A-6
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