One of your team members is struggling with preparation of balance sheet and he needs your assistance in completing it. He has come up with following missing information. You are required to complete this Balance sheet. Assets liabillities & Equity Cash $ 100,000 Current Liabillities Receivable Long term Debt --------- inventry Total Debt Plant ----------- Common Debt $ 600,000 Total Assets ------------- Total Claim ------------ Additional Information: Current Ratio = 2.5 Average Collection Period = 54 days Total Debt to Total Assets = 40% Total Asset Turnover = 2 Inventory Turnover = 5
One of your team members is struggling with preparation of balance sheet and he needs your assistance in completing it. He has come up with following missing information. You are required to complete this Balance sheet. Assets liabillities & Equity Cash $ 100,000 Current Liabillities Receivable Long term Debt --------- inventry Total Debt Plant ----------- Common Debt $ 600,000 Total Assets ------------- Total Claim ------------ Additional Information: Current Ratio = 2.5 Average Collection Period = 54 days Total Debt to Total Assets = 40% Total Asset Turnover = 2 Inventory Turnover = 5
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
One of your team members is struggling with preparation of
| Assets | liabillities & Equity | ||
| Cash | $ 100,000 | Current Liabillities | |
| Receivable | Long term Debt | --------- | |
| inventry | Total Debt | ||
| Plant | ----------- | Common Debt | $ 600,000 |
| Total Assets | ------------- | Total Claim | ------------ |
Additional Information:
Average Collection Period = 54 days
Total Debt to Total Assets = 40%
Total Asset Turnover = 2
Inventory Turnover = 5
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