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The Griggs Corporation has credit sales of $826,200. Total assets turnover 2.70 times Cash to total assets 1.80 % Accounts receivable turnover 10 times Inventory turnover 20 times Current ratio 1.77 times Debt to total assets 45 % Using...

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Finance

The Griggs Corporation has credit sales of $826,200.

Total assets turnover2.70times
Cash to totalassets1.80%
Accountsreceivable turnover10times
Inventoryturnover20times
Currentratio1.77times
Debt to totalassets45%

Using the above ratios, complete the balance sheet.(Round your answers to the nearest wholenumber.)

Cash    current debt

Accountsreceivable                                                               long term debt

Inventory                                                                                total debt

Total currentassets                                                                equity

fixedAssets                                                                           total debt and stockholders equity

Total Assets

Answer & Explanation Solved by verified expert
3.9 Ratings (769 Votes)
AnswerTotal Assets Turnover Sales Total Assets270 826200 Total AssetsTotal Assets 306000Cash to Total Assets Cash Total Assets180 Cash 306000 100Cash 5508Accounts    See Answer
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The Griggs Corporation has credit sales of $826,200.Total assets turnover2.70timesCash to totalassets1.80%Accountsreceivable turnover10timesInventoryturnover20timesCurrentratio1.77timesDebt to totalassets45%Using the above ratios, complete the balance sheet.(Round your answers to the nearest wholenumber.)Cash    current debtAccountsreceivable                                                               long term debtInventory                                                                                total debtTotal currentassets                                                                equityfixedAssets                                                                           total debt and stockholders equityTotal Assets

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