Complete the balance sheet Cash 30,000 Marketable securities 25,000 Accounts rec
ID: 2505922 • Letter: C
Question
Complete the balance sheet
Cash 30,000
Marketable securities 25,000
Accounts receivable ???
Inventories ???
Total Current Assets ???
Net Fixed Assets ???
Total Assets ???
Accounts Payable 120,000
Line of Credit ???
Accurals 20,000
Total Current Liabilities ???
Long Term Debt ???
Shareholders equity ???
Total Liabailities and sharholders equity ???
The following is given:
Sales totaled 1,825,000
Gross margin was 25%
Average age of inventory was 60 days
average collection period was 40 days
the current ratio was 1.60
the total asset turnover ratio was 1,25
the debt ratio was 60%