Top Posters
Since Sunday
r
7
c
6
5
n
5
S
4
M
4
r
4
1
4
s
4
s
4
n
4
s
4
Home Q & A Board Other Fields Homework Help Business
New Topic  
borteleto borteleto
wrote...
Go to Answer
Posts: 2477
Rep: 2 0
6 years ago
Complete the following balance sheet using the information given. Round account balances to the nearest dollar.

Balance SheetIncome Statement

CashSales (All Credit)$20,000
Accounts receivableCost of goods sold10,000
InventoryOperating expenses6,000
Net fixed assetsInterest expense100
Total assetsTaxes1,365
Net income$2,535
Accounts payable
Short-term notes payable$1,425 Ratios:
Long-term debtProfit Margin =12.675%
Common stock$5,000 Return on Equity =15%
Retained earningsQuick Ratio =1.2
Total Liabilities and equityReturn on Total Assets =10%
Fixed Asset Turnover =1.6
Current Ratio =2
Days Sales Outstanding =45
Read 50 times
1 Reply
Replies
Answer verified by a subject expert
DeanaRayDeanaRay
wrote...
#1
Top Poster
Posts: 1112
Rep: 14 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
1

Related Topics

borteleto Author
wrote...

6 years ago
Brilliant ツ
KaylenePig
wrote...

Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Jadakiss
wrote...

2 hours ago
This site is awesome
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1436 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 317
  
 313
  
 757
Your Opinion
Which is the best fuel for late night cramming?
Votes: 231
Previous poll results: Do you believe in global warming?