. Complete the following balance sheet for the Range Company using the following
ID: 2673201 • Letter: #
Question
. Complete the following balance sheet for the Range Company using the following information:
Debt to Assets = 60 percent
Quick Ratio = 1.1
Asset Turnover = 5x
Fixed Asset Turnover = 12.037x
Current Ratio = 2
Average Collection Period = 16.837 days
cash.........................current liab........
acc.receivable..............bonds payable......
inventory....................total liab....
total current asset..........net worth.....
plant and equiment........net worth.....
total asset $325000 total net worth and liab........
Explanation / Answer
Complete the following balance sheet for the Range Company using the following information:Debt to Assets = 60 percentQuick Ratio = 1.1Asset Turnover = 5xFixed Asset Turnover = 12.037xCurrent Ratio = 2Average Collection Period = 16.837 dayscash.........................current liab........acc.receivable..............bonds payable......inventory....................total liab....total current asset..........net worth.....plant and equiment........net worth.....total asset $325000 total net worth and liab...
Total liabilities/total assets = 0.6 = debt to assets ratio
(current assets - inventories)/current liabilites = quick ratio =1.1
asset turnover = revenue /assets = 5f
ixed turnover ratio = net sales/plant & equipment = 12.037
current ratio = current assets / current liabilites =2
avg collection period = days*Amnt receivables/credit sales = 16.837 daysgiven
total assets = 325000from debt to asset ratio total liabilities =195000$
Similarily calculate other balance sheet elements using the above ratios
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