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The balance sheet for Bryan Corporation is given below. Sales for the year were $3,040,000, with 75 percent of sales sold on cre Cash Accounts receivable Inventory Plant and equipment Total assets Assets a. Current ratio b. Quick ratio e. C. d. Asset turnover Debt-to-total-assets ratio BRYAN CORPORATION Balance Sheet Dec. 31, 20XX Average collection period Liabilities and Equity $60,000 240,000 350,000 410,000 Accounts payable. Accrued taxes Bonds payable (long term) Common stock Retained earnings $1,060,000 Total liabilities and equity Compute the following ratios: (Use 365 days in a year. Round the final answer to 2 decimal places.) X X % X $220,000 30,000 150,000 days 280,000 380,000 $1,060,000 N 4

The balance sheet for Bryan Corporation is given below. Sales for the year were $3,040,000, with 75 percent of sales sold on cre Cash Accounts receivable Inventory Plant and equipment Total assets Assets a. Current ratio b. Quick ratio e. C. d. Asset turnover Debt-to-total-assets ratio BRYAN CORPORATION Balance Sheet Dec. 31, 20XX Average collection period Liabilities and Equity $60,000 240,000 350,000 410,000 Accounts payable. Accrued taxes Bonds payable (long term) Common stock Retained earnings $1,060,000 Total liabilities and equity Compute the following ratios: (Use 365 days in a year. Round the final answer to 2 decimal places.) X X % X $220,000 30,000 150,000 days 280,000 380,000 $1,060,000 N 4

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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The balance sheet for Bryan Corporation is given below. Sales for the year were $3,040,000, with 75 percent of sales sold on cre Cash Accounts receivable Inventory Plant and equipment Total assets Assets a. Current ratio b. Quick ratio Debt-to-total-assets ratio BRYAN CORPORATION Balance Sheet Dec. 31, 20XX d. Asset turnover e. Average collection period Liabilities and Equity $60,000 240,000 350,000 410,000 Accounts payable Accrued taxes Bonds payable (long term) Common stock Retained earnings $1,060,000 Total liabilities and equity Compute the following ratios: (Use 365 days in a year. Round the final answer to 2 decimal places.) X X % X $220,000 30,000 150,000 days 280,000 380,000 $1,060,000
Transcribed Image Text:The balance sheet for Bryan Corporation is given below. Sales for the year were $3,040,000, with 75 percent of sales sold on cre Cash Accounts receivable Inventory Plant and equipment Total assets Assets a. Current ratio b. Quick ratio Debt-to-total-assets ratio BRYAN CORPORATION Balance Sheet Dec. 31, 20XX d. Asset turnover e. Average collection period Liabilities and Equity $60,000 240,000 350,000 410,000 Accounts payable Accrued taxes Bonds payable (long term) Common stock Retained earnings $1,060,000 Total liabilities and equity Compute the following ratios: (Use 365 days in a year. Round the final answer to 2 decimal places.) X X % X $220,000 30,000 150,000 days 280,000 380,000 $1,060,000
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