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    monica_d's Avatar
    monica_d Posts: 3, Reputation: 1
    New Member

    Mar 22, 2010, 11:26 AM
    Determine the amount of total assets, current assets noncurrent assets
    Determine the amount of total assets, current assets, and noncurrent assets at the end of the period, given the following data:

    Current liability, ending balance $50,000
    Current ratio, ending 1:6:1
    Owners’ equity, beginning balance $120,000
    Inventory, beginning balance $ 35,000

    Purchases during the period $40,000
    Inventory, ending balance $30,000
    Gross margin percentage 45%
    Profit margin 10%
    Long term debt, ending balance $40,000
    Clough's Avatar
    Clough Posts: 26,677, Reputation: 1649
    Uber Member

    Mar 22, 2010, 12:45 PM
    Hi, monica_d!

    Are you looking for direct answers, or for someone to come along to teach you how to come up with the correct answers yourself, please?

    If the former is true, then please click on the following link to read the announcement that's there.


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