​A Firm with Sales of $1000 Has the Following Balance $X Y Z$

question 31

Essay

​A firm with sales of $1000 has the following balance sheet. Corporation $X Y Z$
Balance Sheet as of June $30,20 X \mathrm { X }$
Assets Liabilities and Equity
Accounts receivable $\$ 200$ Accounts payable $\$ 200$
Inventory
400 Long-term debt 300
Plant
$\frac { 400 } { \$ 1,000 }$ Equity $\frac { 500 } { \$ 1,000 }$ ​
If the firm earns 10 percent after taxes on sales and pays no dividends,
​
a. Determine the entries for a new balance sheet for sales of $1,500 using the percent of sales.
a. If necessary, issue new stock to cover any external financing needs. If the firm has excess funds, retire the accounts payable.
b. the firm need external financing?
c. Construct a new balance sheet using the estimates obtained in

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Definitions:

Racial Segregation

The systemic separation of people into racial or ethnic groups in daily life, including housing, education, and employment.

Jim Crow Laws

Racial segregation laws enacted between the late 19th and mid-20th centuries in the Southern United States, enforcing racial discrimination against African Americans.

Reconstruction

The period (1865-1877) following the American Civil War, during which the Southern states were reorganized and reintegrated into the Union.

Emancipated Slaves

Refers to individuals who were released from slavery, gaining their freedom and rights.