Prepare the balance sheet of ABS-CBN based on the following financial data. Net Sales P...
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Prepare the balance sheet of ABS-CBN based on the following financial data. Net Sales P 1,500,000 Total asset turnover 3.0 times Fixed asset turnover 8.0 times Account receivable turnover 20 times Quick ratio 1.25 times Book records show the amount of Long-term debt, Ordinary Share capital and Retained Earnings of P150,000, P75,000, and P50,000 respectively.
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