Assignment Detail


Construct the december balance sheet

    Assignment Instructions

    Assignment ID: FG133136246

    Question – The following data are available in your financial analysis task;

    Current ratio 2

    A/R turnover ratio 16

    A/R, Beginning $50,000

    ROE (= NI/TE) 20%

    Sales for the year (all on credit) $1,000,000

    Days’ sales in inventory 36 days

    Gross profit on sales 50%

    Expenses (excluding CGS) $450,000

    TL/TE 1

    Noncurrent assets $300,000

    Required – Construct the December 31, Year 2 balance sheet for your analysis. All data are as of December 31, Year 2, unless otherwise indicated. That is, complete the balance sheet below. Assume 360 days in a year. Show your work.

    Need fresh solution to this Assignment without plagiarism?? Get Quote Now

    Expert Answer

    Asked by: Anonymous
    Plagiarism Checked
    Answer Rating:

    Plagiarism free Answer files are strictly restricted for download to the student who originally posted this question.

    Related Assignments

    Our customer support team is here to answer your questions. You can send Assignments directly to support team.
    👋 Hi, how can I help?