The Maurer Company has a long-term debt ratio of .60 and a current ratio of 1.50....
| The Maurer Company has a long-term debt ratio of .60 and a
current ratio of 1.50. Current liabilities are $900, sales are
$5,135, profit margin is 9.20 percent, and ROE is 16.60 percent.
What is the amount of the firm's net fixed assets? |
Homework Answers
Net fixed assets is $ 11,760.65
| Equity | = | (Sales * Profit margin) | / | ROE | ||||
| = | (5135*9.20%) | / | 16.60% | |||||
| = | $ 472.42 | / | 16.60% | |||||
| = | $ 2,845.90 | |||||||
| Current assets | = | Current liabilities | * | Current ratio | ||||
| = | $ 900.00 | * | 1.5 | |||||
| = | $ 1,350.00 | |||||||
| Balance sheet has two side.Assets side and second one is liabilities and equity side.Both sides are always same. | ||||||||
| Second side comprises of current liabilities, long term debt and equity. | ||||||||
| We have current liabilities and equity.So, remaining balance od second side is only long term debt | ||||||||
| So, long term debt is calculated as follows: | ||||||||
| Long term debt | = | Total of current liabilities and equity | / | (1-long term debt ratio) | ||||
| = | (900+2845.90) | / | (1-0.60) | |||||
| = | $ 3,745.90 | / | 0.40 | |||||
| = | $ 9,364.75 | |||||||
| Net fixed assets | = | Total of liabilities and equity | - | Current assets | ||||
| = | $ 2,845.90 + 900 +9364.75 | - | 1350 | |||||
| = | $ 11,760.65 | |||||||
Add Answer to:
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