During the year ended December 31, 2021, Greenline Ltd. had sales of $780,000, (all on credit)...
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During the year ended December 31, 2021, Greenline Ltd. had sales of $780,000, (all on credit) and cost of goods sold of $160,000. Required: With the above information and the following ratios prepare the company's balance sheet as per the template shown below: (10 marks) Current ratio Inventory turnover Cash to total assets Accounts receivable turnover Debt to total assets...... Total assets turnover Assets Cash Accounts Receivables Inventory Total Current Assets Capital Assets Total Assets $ 6 times 6.4 times 5% 20 times 50 % 6 times Greenline Ltd. Balance Sheet December 31, 2022 Liabilities & Shareholders' Equity. Current Debt Long Term Debt Total Debt Equity Total Liabilities & Shareholders' Equity $ During the year ended December 31, 2021, Greenline Ltd. had sales of $780,000, (all on credit) and cost of goods sold of $160,000. Required: With the above information and the following ratios prepare the company's balance sheet as per the template shown below: (10 marks) Current ratio Inventory turnover Cash to total assets Accounts receivable turnover Debt to total assets...... Total assets turnover Assets Cash Accounts Receivables Inventory Total Current Assets Capital Assets Total Assets $ 6 times 6.4 times 5% 20 times 50 % 6 times Greenline Ltd. Balance Sheet December 31, 2022 Liabilities & Shareholders' Equity. Current Debt Long Term Debt Total Debt Equity Total Liabilities & Shareholders' Equity $
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Answer rating: 100% (QA)
Based on the given information and ratios we can calculate the values for the balance sheet as follows Current Ratio Current Assets Current Liabilitie... View the full answer
Related Book For
Introduction To Federal Income Taxation In Canada
ISBN: 9781554965021
33rd Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
Posted Date:
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