Perform a vertical analysis for the balance sheet entry "Accounts Receivable" given below. (Round to the nearest tenth) Assets Current Assets Cash $ 23,000 Accounts Receivables 16,000 Merchandise Inventory 50,000 Supplies 2,500 Total Current Assets 91,500 Property, Plant, and Equipment Machinery and Equipment 23,000 Total Assets $114,500
Perform a vertical analysis for the balance sheet entry "Accounts Receivable" given below. (Round to the nearest tenth) Assets Current Assets Cash $ 23,000 Accounts Receivables 16,000 Merchandise Inventory 50,000 Supplies 2,500 Total Current Assets 91,500 Property, Plant, and Equipment Machinery and Equipment 23,000 Total Assets $114,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Perform a vertical analysis for the balance sheet entry "Accounts Receivable " given below. (Round to the nearest tenth)
| Assets | |
| Current Assets | |
| Cash |
$ 23,000 |
| Accounts Receivables |
16,000 |
| Merchandise Inventory |
50,000 |
| Supplies |
2,500 |
| Total Current Assets |
91,500 |
| Property, Plant, and Equipment | |
| Machinery and Equipment |
23,000 |
| Total Assets |
$114,500
|
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