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    Determine to amount of total assets - MBA program

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    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

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    https://brainmass.com/business/accounting/determine-amount-total-assets-mba-program-148614

    Solution Preview

    Current Assets = Current ratio * Current Liabilities
    =1.6*50000
    $80,000.00

    Let us Calulate the Sales, Profit afer taxes

    Cost of Goods Sold= Purchases + Closing Inventory- Opening Inventory
    =40000+30000-35000
    35000

    Gross Margin is 45% on Sales
    Let the Sales be 100, Thus Cost of goods sold = Sales- Gross ...

    Solution Summary

    The expert determines the amount of total assets, current assets, and non-current assets at the end of the period, given the following data.

    $2.19

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