Question: Solve with: 3-3 Everything is the same except that Total debt to net worth 1 to 1, Quick ratio 1.5 to 1, Asset turnover 1.5

 Solve with: 3-3 Everything is the same except that Total debt

Solve with:

3-3 Everything is the same except that

Total debt to net worth 1 to 1, Quick ratio 1.5 to 1, Asset turnover 1.5 times, Average collection period 48.67 days, Sales/Inventory 7.5 times, Long-term debt 30,000, Common stock 20,000, Retained earnings 30,000.

3-3 Given the following financial data, complete the balance sheet below: Total debt to net worth 1.5 to 1 Quick ratio 1 to 1 Asset turnover 2 times Average collection period Sales/inventory 10 times Cash Notes payable Receivables Long-term debt $20,000 Inventories Common stock 15,000 Net plant Retained earnings 25,000 18.25 days Total assets Total debt & equity

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!