Practice Set At the end of 2018, the Zedo Company has $100,000 in accumulated depreciation and $120,000 in retained earnings. Sales Notes Payable Tax Rate 2019 $600,000 45,000 40% 2020 $700,000 75,000 40%

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Calculate for 2020: inventory turnover accruals debt ratio common stock net fixed assets turnover cash flow from operating activities cash flow from financing cash flow from investing activities net operating working capital    please don't upload  image

Practice Set
At the end of 2018, the Zedo Company has $100,000 in accumulated
depreciation and $120,000 in retained earnings.
Sales
Notes Payable
Tax Rate
Gross Fixed Assets
Total Current Liabilities
Interest Expense
Cash
ATTACHMENT A
Financial Statements
Accounts Payable
Total Current Assets
Total Liabilities
Net Income
Accounts Receivable
Dividends
Operating Expenses before
Depreciation/Amortization
2019
$600,000
45,000
40%
$800,000
330,000
30,000
20,000
190,000
340,000
400,000
24,000
140,000
14,000
70% of sales
2020
$700,000
75,000
40%
$1,000,000
290,000
40,000
30,000
160,000
320,000
380,000
48,000
160,000
18,000
70% of sales
• Complete the Income Statement and Balance Sheet
Complete the Statement of Cash Flows
.
• Address the ratios on the following pages
Transcribed Image Text:Practice Set At the end of 2018, the Zedo Company has $100,000 in accumulated depreciation and $120,000 in retained earnings. Sales Notes Payable Tax Rate Gross Fixed Assets Total Current Liabilities Interest Expense Cash ATTACHMENT A Financial Statements Accounts Payable Total Current Assets Total Liabilities Net Income Accounts Receivable Dividends Operating Expenses before Depreciation/Amortization 2019 $600,000 45,000 40% $800,000 330,000 30,000 20,000 190,000 340,000 400,000 24,000 140,000 14,000 70% of sales 2020 $700,000 75,000 40% $1,000,000 290,000 40,000 30,000 160,000 320,000 380,000 48,000 160,000 18,000 70% of sales • Complete the Income Statement and Balance Sheet Complete the Statement of Cash Flows . • Address the ratios on the following pages
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