(In Pesos) Annual Credit Sales 1,800,000 Cash 32,720 Gross Profit Margin 25% Marketable Sec. 25,000 Inventory Turnover 6 Accounts Receivable 1. ? No. of days in a year 365 Inventories 2. ? Average Collection Period 45 days Total Current Assets 3. ? Current Ratio 1.6 Net Fixed Assets 4. ? Total Asset Turnover Ratio 1.2 Total Assets 5. ? Debt ratio 60% Accounts Payable 120,000 Notes Payable 6. ? Accruals 20,000 Gross Profit 7. ? Total Current Liabilities 8. ? Long Term Debt 9. ? *ALL SALES ARE CREDIT Stockholders' Equity 600,000 SALES Total Liab, And Equity 10. ?
(In Pesos) Annual Credit Sales 1,800,000 Cash 32,720 Gross Profit Margin 25% Marketable Sec. 25,000 Inventory Turnover 6 Accounts Receivable 1. ? No. of days in a year 365 Inventories 2. ? Average Collection Period 45 days Total Current Assets 3. ? Current Ratio 1.6 Net Fixed Assets 4. ? Total Asset Turnover Ratio 1.2 Total Assets 5. ? Debt ratio 60% Accounts Payable 120,000 Notes Payable 6. ? Accruals 20,000 Gross Profit 7. ? Total Current Liabilities 8. ? Long Term Debt 9. ? *ALL SALES ARE CREDIT Stockholders' Equity 600,000 SALES Total Liab, And Equity 10. ?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
ANSWER NUMBERS
8,9,10
![(In Pesos)
Annual Credit Sales
1,800,000
Cash
32,720
Gross Profit Margin
25%
Marketable Sec.
25,000
Inventory Turnover
6
Accounts Receivable
1. ?
No. of days in a year
365
Inventories
2. ?
Average Collection Period
45 days
Total Current Assets
3. ?
Current Ratio
1.6
Net Fixed Assets
4. ?
Total Asset Turnover Ratio
1.2
Total Assets
5. ?
Debt ratio
60%
Accounts Payable
120,000
Notes Payable
6. ?
Accruals
20,000
Gross Profit
7. ?
Total Current Liabilities
8. ?
Long Term Debt
9. ?
*ALL SALES ARE CREDIT
Stockholders' Equity
600,000
SALES
Total Liab, And Equity
10. ?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F20f27fb4-968a-44dc-a5c7-997d93013b22%2F2e80da59-c265-4822-a358-9026ab499bb4%2Fjuo8ew_processed.png&w=3840&q=75)
Transcribed Image Text:(In Pesos)
Annual Credit Sales
1,800,000
Cash
32,720
Gross Profit Margin
25%
Marketable Sec.
25,000
Inventory Turnover
6
Accounts Receivable
1. ?
No. of days in a year
365
Inventories
2. ?
Average Collection Period
45 days
Total Current Assets
3. ?
Current Ratio
1.6
Net Fixed Assets
4. ?
Total Asset Turnover Ratio
1.2
Total Assets
5. ?
Debt ratio
60%
Accounts Payable
120,000
Notes Payable
6. ?
Accruals
20,000
Gross Profit
7. ?
Total Current Liabilities
8. ?
Long Term Debt
9. ?
*ALL SALES ARE CREDIT
Stockholders' Equity
600,000
SALES
Total Liab, And Equity
10. ?
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