Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.5 X Days sales outstanding: 36.5 days (Calculation is based on a 365-day year) Inventory turnover ratio: 5 X Fixed assets turnover: 3.0 X Current ratio: 2.0 X Gross profit margin on sales: (Sales - Cost of goods sold) ∕ Sales = 25% Cash ------------ Current Liabilities -------- Accounts Receivables ------------ Long Term Liabilities 60000 Inventories ------------ Common Stock -------- Fixed Assets ------------ Retained Earnings 97500 Total Assets 300000 Total Liabilities and Equity --------- Sales Cost of goods sold ---------
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.5 X Days sales outstanding: 36.5 days (Calculation is based on a 365-day year) Inventory turnover ratio: 5 X Fixed assets turnover: 3.0 X Current ratio: 2.0 X Gross profit margin on sales: (Sales - Cost of goods sold) ∕ Sales = 25% Cash ------------ Current Liabilities -------- Accounts Receivables ------------ Long Term Liabilities 60000 Inventories ------------ Common Stock -------- Fixed Assets ------------ Retained Earnings 97500 Total Assets 300000 Total Liabilities and Equity --------- Sales Cost of goods sold ---------
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Q 2 Complete the
Total assets turnover: 1.5 X
Days sales outstanding: 36.5 days (Calculation is based on a 365-day year)
Inventory turnover ratio: 5 X
Fixed assets turnover: 3.0 X
Gross profit margin on sales: (Sales - Cost of goods sold) ∕ Sales = 25%
|
Cash |
------------ |
Current Liabilities |
-------- |
|
|
------------ |
Long Term Liabilities |
60000 |
|
Inventories |
------------ |
Common Stock |
-------- |
|
Fixed Assets |
------------ |
|
97500 |
|
Total Assets |
300000 |
Total Liabilities and Equity |
--------- |
|
Sales |
|
Cost of goods sold |
--------- |
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