A comparative incomplete balance sheet for ABC Company containing data in for the last recent years
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Question:
A comparative incomplete balance sheet for “ABC” Company containing data in € for the last recent years is as follows:
Additional information
the accounts receivable turnover ratio for 20x1 is 8 times
all sales are on account
the net profit margin for 20x1 is 14,5%
return on total assets (Don't add back interest expense in the calculation and use net income ) is 20% in 20x1
the current ratio on Dec 31,20x1 is 2.5
the inventory turnover ration (based on cost of goods) for 20x1 is 4.9
Required:
Compute the missing values on the incomplete comparative balance sheet and the incomplete income statement of “ABC” Company.
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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