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QUESTION

Please find notes payable,

Please find notes payable,

long term debt, and Net fixed assets

USE THE DATA BELOW TO ANSWER QUESTIONS 29, 30 AND 31 — THE DATA WILL BE REPEATED FOR EACHOF THE QUESTIONS, BUT IT IS IDENTICAL F OR EACH. Given the financial data and ratios listed below for the Atlanta Company, determine what Atlanta Company recorded as m[gym on its 2012 balance sheet. (Record your answer without a dollar sign, without commas, and if the answer is a negativenumber, use the minus sign followed by the number with no spaces between the minus sign and the number — thus record $3,143 as3143 or negative 18 as -18). Sales $10,000Gross profit margin 40%Inventory turnover 4 timesratio Net profit margin 8%Average collection 45 daysperiod Return on equity (ROE) 50%Return on assets (ROA) 20%Cash $250Current ratio 2.5Accounts payable days 30 daysNotes: Of total sales, 80 percent are on credit; 20% arecash sales. Use COGS for inventory turnover ratio. Assume a 360 day year.
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