Given the following information, complete the balance sheet shown nextCollection periodDays' sales in cashCurrent ratioAssetsCurrent assets:CashInventory turnoverLiabilities to assetsPayables period(All sales are on credit. All calculations assume a 365-day year. The payatNote: Round your answers to the nearest whole dollar.Accounts receivableInventoryTotal current assetsNet fixed assetsTotal assetsLiabilities and shareholders equityCurrent liabilities:Accounts payableShort-term debtTotal current liabilities70 days32days2.2570%36 daysLong-term debtShareholders equityTotal liabilities and equitytimes$ 1,300,000SS1,900,0008,000,0002.400.0008.000.000

As per the information provided: Collection period - 70 daysDays sales in cash - 32 daysCurrent…

Given the following information, complete the balance sheet shown nex Collection period Days' sales in cash Current ratio Assets Current assets: Cash Accounts receivable Inventory Inventory turnover Liabilities to assets Payables period (All sales are on credit. All calculations assume a 365-day year. The payal Note: Round your answers to the nearest whole dollar. Total current assets Net fixed assets Total assets Liabilities and shareholders equity Current liabilities: Accounts payable Short-term debt Total current liabilities 70 32 2.2 5 Long-term debt Shareholders equity Total liabilities and equity days days times $ 70% 36 days 1,300,000 1,900,000 S 8,000,000 2.400.000 S 8.000.000

Given the following information, complete the balance sheet shown nex Collection period Days' sales in cash Current ratio Assets Current assets: Cash Accounts receivable Inventory Inventory turnover Liabilities to assets Payables period (All sales are on credit. All calculations assume a 365-day year. The payal Note: Round your answers to the nearest whole dollar. Total current assets Net fixed assets Total assets Liabilities and shareholders equity Current liabilities: Accounts payable Short-term debt Total current liabilities 70 32 2.2 5 Long-term debt Shareholders equity Total liabilities and equity days days times $ 70% 36 days 1,300,000 1,900,000 S 8,000,000 2.400.000 S 8.000.000

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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