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Assume that the only accounts on the balance sheet are those listed below. Fill in this chart with

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Assume that the only accounts on the balance sheet are those listed below. Fill in this chart with the data;provided and then answer questions 28, 29 and 30.;Cash ____________ Notes payable;Accounts receivable ____________ Accounts payable;Inventory ____________ Long-term debt;Gross fixed assets ____________ Equity;(Accumulated depreciation) ____________ Total liab & equity;Net fixed assets;Total assets;28. Cash = ____________.;29. Long-term debt = ____________.;30. Total assets =____________.;Sales $ 2,000,000;Gross profit margin 20%;Inventory turnover ratio (Cost of goods sold/Inventory) 25;Net profit margin 4%;Average collection period 45;Return on equity 25%;Accumulated depreciation $ 75,000;Return on assets 12.5%;Accounts payable days 18;Notes payable $ 18,000;Gross fixed assets $ 400,000;Percent of sales on credit (remainder are cash sales) 80%;Additional Requirements

 

Paper#30688 | Written in 18-Jul-2015

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