Complete the balance sheet and sales information using the following financial data: Balance sheet Cash ________ Current liabilities _________ Accounts Receivable ________ Long-term debt 120,000 Inventories ________ Common stock _________ Total assets $600,000 Retained earnings 195,000 Total liabilities and equity _________ Sales ________ Cost of good sold ____40%sales__ Current ratio: 2.o X Fixed assets turnover: 3.0 X Inventory turnover: 3.0 X Days sales outstanding: 36.5 days Total assets turnover: 1.5 X
- Complete the
balance sheet and sales information using the following financial data:
Balance sheet
Cash ________ Current liabilities _________
Accounts Receivable ________ Long-term debt 120,000
Inventories ________ Common stock _________
Total assets $600,000 Retained earnings 195,000
Total liabilities and equity _________
Sales ________ Cost of good sold ____40%sales__
Current ratio: 2.o X
Fixed assets turnover: 3.0 X
Inventory turnover: 3.0 X
Days sales outstanding: 36.5 days
Total assets turnover: 1.5 X
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
