26 What Taxes Do The Employee And The Employee Both Pay The Following Information Is 2767233
26. What taxes do the employee andthe employee both pay?
The following information is takenfrom the financial statement of Fellow’s Funeral Home:
Total current assets $62,000
Quick assets $40,000
Property, plant, equipment $17,000
Current liabilities $18,000
Long-term liabilities $14,000
Beginning A/R $8000
End A/R $5000
Owner equity $45,000
Beginning Inventory $30,000
Ending inventory $15,000
Cost of Goods Sold $45,000
Net Sales $68,000
Net income $84,000
27. What is the inventory turnoverfor Fellow’s FH?
28. What is the acid-test ratio forFellow’s FH?
29. What is the A/R turnover forFellow’s FH?
30. If you take a loan out for $4000 and you are going to pay it back over 2years at 5% interest, how much money total are you going to pay back?
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