A skeleton of Vintage Mills' balance sheet appears as follows (amounts in thousands): Requirement 1. Use the

Question:

A skeleton of Vintage Mills' balance sheet appears as follows (amounts in thousands):

Balance Shcet Total current liabilities ... (a) Long-term notc payable . S 1,900 (c) 75 Cash..... Reccivables... Other l

Requirement
1. Use the following ratio data to complete Vintage Mills' balance sheet.
a. Current ratio is 0.80.
b. Acid-test ratio is0.40.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...