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Net fixed assets for Cole Egan Enterprises in 2019 were $45,484 $48,975 $54,511 $69,341 None of the above Long-term debt for Cole Egan Enterprises in 2019 was $30,763 $52,372 $10,608 $41,372 None of the above Total assets for Cole Egan Enterprises in 2019 were $45,895 $124,300 $ 58,603 $97,345 None of the above

Net fixed assets for Cole Egan Enterprises in 2019 were $45,484 $48,975 $54,511 $69,341 None of the above Long-term debt for Cole Egan Enterprises in 2019 was $30,763 $52,372 $10,608 $41,372 None of the above Total assets for Cole Egan Enterprises in 2019 were $45,895 $124,300 $ 58,603 $97,345 None of the above

FINANCIAL ACCOUNTING
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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Net fixed assets for Cole Egan Enterprises in 2019 were $45,484 $48,975 $54,511 $69,341 None of the above Long-term debt for Cole Egan Enterprises in 2019 was $30,763 $52,372 $10,608 $41,372 None of the above Total assets for Cole Egan Enterprises in 2019 were $45,895 $124,300 $ 58,603 $97,345 O None of the above
Transcribed Image Text:Net fixed assets for Cole Egan Enterprises in 2019 were $45,484 $48,975 $54,511 $69,341 None of the above Long-term debt for Cole Egan Enterprises in 2019 was $30,763 $52,372 $10,608 $41,372 None of the above Total assets for Cole Egan Enterprises in 2019 were $45,895 $124,300 $ 58,603 $97,345 O None of the above
Data for Cole Eagan Enterprises. For turnover ratios, use ending balances only. Balance Sheet Cole Eagan Enterprises December 31, 2019 $4,500 Accounts Payable Notes Payable Accruals Cash $10,000 Accounts Receivable 1,000 Inventory Total Current Assets Total Current Liabilities Net Fixed Assets Long-Term Debt Stockholders' Equity Total Liabilities & S.E. Total Assets Additional Information for 2019: Sales totaled $110,000 The average collection period was 65 days. • The current ratio was 2.40. • The total asset turnover was 1.13. The debt ratio was 53.8 percent. The gross profit margin was 25 percent. Inventory turnover was 3.0. There are 360 days in the year.
Transcribed Image Text:Data for Cole Eagan Enterprises. For turnover ratios, use ending balances only. Balance Sheet Cole Eagan Enterprises December 31, 2019 $4,500 Accounts Payable Notes Payable Accruals Cash $10,000 Accounts Receivable 1,000 Inventory Total Current Assets Total Current Liabilities Net Fixed Assets Long-Term Debt Stockholders' Equity Total Liabilities & S.E. Total Assets Additional Information for 2019: Sales totaled $110,000 The average collection period was 65 days. • The current ratio was 2.40. • The total asset turnover was 1.13. The debt ratio was 53.8 percent. The gross profit margin was 25 percent. Inventory turnover was 3.0. There are 360 days in the year.
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