Below is the balance sheet for tech firm Gaagle at year-end 2018 and 2019, together with...
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Below is the balance sheet for tech firm Gaagle at year-end 2018 and 2019, together with its income statement Balance Sheet Year-End 2018 Cash 32 9 Account Receivable Finished Good Inventory 44 Goodwill 88 Total Balance Sheet Year-End 2019 Cash 57 Account Receivable 14 Finished Good Inventory Goodwill 40 102 Total 213 Income Statement 2019 Sales Cost of Goods Sold Administration and Selling Expenses R&D Expenses Interest Expenses Goodwill Amortization 173 Taxation Income Tax Net Income Account Payable Debt (to ABC Bank) Payable Owner Equity Total Owner Equity Total 240 102 30 16 7 11 74 12 12 95 Account Payable 16 Debt (to ABC Bank) Payable 85 62 66 173 112 213 v) Inventory on the balance sheet compared to sales gives an indication of how fast a company is able to sell its products. Give an estimate of how long on average a finish product will remain in Gaagle's inventory before it is sold. Below is the balance sheet for tech firm Gaagle at year-end 2018 and 2019, together with its income statement Balance Sheet Year-End 2018 Cash 32 9 Account Receivable Finished Good Inventory 44 Goodwill 88 Total Balance Sheet Year-End 2019 Cash 57 Account Receivable 14 Finished Good Inventory Goodwill 40 102 Total 213 Income Statement 2019 Sales Cost of Goods Sold Administration and Selling Expenses R&D Expenses Interest Expenses Goodwill Amortization 173 Taxation Income Tax Net Income Account Payable Debt (to ABC Bank) Payable Owner Equity Total Owner Equity Total 240 102 30 16 7 11 74 12 12 95 Account Payable 16 Debt (to ABC Bank) Payable 85 62 66 173 112 213 v) Inventory on the balance sheet compared to sales gives an indication of how fast a company is able to sell its products. Give an estimate of how long on average a finish product will remain in Gaagle's inventory before it is sold.
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Related Book For
Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts
ISBN: 9780135919460
34th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
Posted Date:
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