Examlex

Solved

Complete the Balance Sheet for General Aviation,Inc

question 15

Essay

Complete the balance sheet for General Aviation,Inc.based on the following financial data.
Balance Sheet
General Aviation,Inc.
December 31,2019 Complete the balance sheet for General Aviation,Inc.based on the following financial data. Balance Sheet General Aviation,Inc. December 31,2019   Key Financial Data (2019) 1.Sales totaled $720,000. 2.The gross profit margin was 38.7 percent. 3.Inventory turned 6 times. 4.There are 360 days in a year. 5.The average collection period was 31 days. 6.The current ratio was 2.35. 7.The total asset turnover was 2.81. 8.The debt ratio was 49.4 percent. 9.Total current assets equal $159,565. Key Financial Data (2019)
1.Sales totaled $720,000.
2.The gross profit margin was 38.7 percent.
3.Inventory turned 6 times.
4.There are 360 days in a year.
5.The average collection period was 31 days.
6.The current ratio was 2.35.
7.The total asset turnover was 2.81.
8.The debt ratio was 49.4 percent.
9.Total current assets equal $159,565.


Definitions:

Lack

The state of being without or not having enough of something.

Homeopathic Medicine

Involves the use of natural drugs to treat patients.

Palliative Medicine

A branch of medicine focused on relieving pain, symptoms, and stress of serious illness, aiming to improve quality of life for patients and their families.

Chiropractic Medicine

A therapeutic approach to healing that involves a hands-on manipulation of bones in the spinal column to relieve pressure on nerves.

Related Questions