Question: Q. No 3 : Fill out all the missing items of the balance sheet based on the information provided below show all computations : (4

Q. No 3: Fill out all the missing items of the balance sheet based on the information provided below show all computations: (4 marks)

ABC Industries

Balance Sheet

As at 31-Dec-2020

Assets

Liabilities & Equity

Cash

$ 100,000

Current Liabilities

?

Receivables

?

Long Term Debt

?

Inventory

?

Total Debt

Plant, Property and Equipment

?

Total Equity

$ 600,000

Total Assets

?

Total Claims

Following additional information is available regarding the company:

Current Ratio

2.5

Average Collection Period

54 days

Total Debt to Total Assets

40%

Total Asset Turnover

2

Inventory Turnover

5

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