Use the adjusted trial balance below as a starting point. These are prior to closing...

50.1K

Verified Solution

Question

Accounting

Use the adjusted trial balance below as a starting point. These are prior to closing entries being posted. Note: To get the proper numbers in you might want to create a classified balance sheet (Don't forget to close expenses and revenue) Account Tanzania Company Adjusted Trial Balance (Prior to closing) December 31, 2022 Debit Cash Accounts Receivable Inventory Notes Receivable (Long Term) Equipment Accumulated Depreciation Accounts Payable Notes Payable (Long Term) Unearned Revenue Common Stock Retained Earnings Revenue Cost of Goods Sold Other Expenses Total $ A) Working Capital B) Current Ratio $ 4,699 1,889 1,529 50,894 19,955 Credit 4,048 1,326 19,991 2,048 10,161 31,889 34,613 13,811 11,299 104,076 $ 104,076 C) Quick Ratio D) Debt-To-Equity Ratio E) Accounts Receivable Turnover (All sales on credit) F) Total Asset Turnover G) Inventory Turnover H) Days' Sales in Inventory 1) Profit Margin J) Return on Total Assets Account Tanzania Company Adjusted Trial Balance (Prior to closing) December 31, 2021 Debit Cash Accounts Receivable Inventory Notes Receivable (Long Term) Calculate the following financial ratios: Note: These ratios have been presented throughout the book. There is a overview of them in appendix A. Equipment Accumulated Depreciation Accounts Payable Notes Payable (Long Term) Unearned Revenue Common Stock Retained Earnings Revenue Cost of Goods Sold Expenses Total $ 4,949 2,039 1,779 53,894 34,955 Credit K) Write a short analysis of inventory management. Have they done a better job this year of managing inventory? Assume ending inventory 2 years ago was equal to ending inventory last year. 4,848 1,576 19,991 1,048 10,661 55,203 30,699 14,111 12,299 $ 124,026 $ 124,026
image
A) Workine Capital aj Current matio C) Oukk Matie D) Debt-Te-Toulty Racis D) Feeal Asiet Tumberer C) Inventory Turnower 1Q Days' Sales in inventory 1) Prote Marein Dhetarn on Tatal Auepts

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students