(a) Given the information below and balance sheet of BIG Berhad ended 31 December 2019,...
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Finance
(a) Given the information below and balance sheet of BIG Berhad ended 31 December 2019, solve the following questions. Balance Sheet BIG Berhad Ended 31 December 2019
Cash 4,500
Account payable 10,000
Account receivable ?
Notes payable ?
Inventory ?
Accruals 1,000
Total current assets ?
Total current liabilities ?
Long term assets ?
Long-term debt ?
Stockholders equity ?
Total assets ?
Total liabilities and stockholders equity ?
Information given:
Total sales = RM110,000
Gross Profit margin = 25%
Inventory turnover = 3.0
Average collection period = 65 days
Current ratio = 2.40
Total asset turnover = 1.13
Debt ratio = 53.8%
(Assume 1 year = 360 days)
Calculate the followings. Show your steps.
(i) The inventory. (2 marks)
(ii) The account receivable. (2 marks)
(iii) The note payable. (2 marks)
(iv) The net fixed assets. (2 marks)
(v) The total assets. (2 marks)
(vi) The long-term debt. (2 marks)
(vii) The stockholders equity. (1 mark)
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