Prepare a detailed Balance Sheet and also calculate the following ratios:
A) Current Ratio
B) Working Capital
C) Assets Turnover
D) Fixed Assets Turnover
E) A/R Turnover
F) Debt Ratio
Homework Answers
Solution:
A. Current Ratio = Current assets / Current liabilities
= (4,800 + 5,250 +5,300 + 3,000) / (1,200 +6,700) = 2.32 (Rounded off )
B.Working capital = Current assets - Current liabilities
= (4,800 + 5,250 +5,300 + 3,000) - (1,200 +6,700) = 10,450
C. Assets Turnover = Net sales / Total assets
= 80,500 / 44,150 = 1.82 (Rounded off)
D. Fixed assets turnover = Net sales / Total Fixed assets
= 80,500 / 25,800 = 3.12 (Rounded off)
E. A/R turnover = Net credit sales / Average Accounts Receivable
= 80,500 / 5,250 (Here Service is assumed to be credit)
= 15.33 (Rounded off)
F. Debt ratio = Total debt / Total assets
= 1,200 / 44,150 = 0.027
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Prepare a detailed Balance Sheet and also calculate the
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C) Assets Turnover
D) Fixed Assets Turnover
E) A/R Turnover
F) Debt Ratio
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A.
Required:
1. Please calculate the following ratios and amounts: a) working
capital, b)
current ratio, c) acid-test ratio, d) cash to current liabilities
ratio, e) days’ sales
in receivables (based on ending accounts receivables), f) days’
sales in
inventory (based on cost of goods and ending inventory), g)
operating cycle,
h) total debt to equity ratio and i) times interest earned. For
your calculations,
assume that a year amounts for 360 days
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