Using the following data, complete the balance sheet given below: Gross profit. Rs.54,000 Shareholders fund Rs.600,000 Gross profit margin. 20% Credit sale to Total sales. 80% Total assets turnover. 0.3 times Inventory turnover. 4times Average collection period. 20 days ( a 360 days year) Current ratio. 1.8 Long-term debt to equity. 40% BALANCE SHEET Creditors. ? Cash ? Long term debt. ? Debtors. ? Shareholders fund. ? Inventory. ? Fixed asset. ? Total equity. Total assets

Using the following data, complete the balance sheet given below: Gross profit. Rs.54,000 Shareholders fund Rs.600,000 Gross profit margin. 20% Credit sale to Total sales. 80% Total assets turnover. 0.3 times Inventory turnover. 4times Average collection period. 20 days ( a 360 days year) Current ratio. 1.8 Long-term debt to equity. 40% BALANCE SHEET Creditors. ? Cash ? Long term debt. ? Debtors. ? Shareholders fund. ? Inventory. ? Fixed asset. ? Total equity. Total assets

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...

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Question

Q. Using the following data, complete the balance sheet given below:

Gross profit. Rs.54,000

Shareholders fund Rs.600,000

Gross profit margin. 20%

Credit sale to Total sales. 80%

Total assets turnover. 0.3 times

Inventory turnover. 4times

Average collection period. 20 days ( a 360 days year)

Current ratio. 1.8

Long-term debt to equity. 40%

BALANCE SHEET

Creditors. ? Cash ?

Long term debt. ? Debtors. ?

Shareholders fund. ? Inventory. ?

Fixed asset. ?

Total equity. Total assets

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