Using ratios to reconstruct a balance sheet A skeleton of Vintage Mills' balance sheet appears as follows (amounts in thousands): 11eb8258_958a_65c2_bb02_47206fbd1d1e_SM1625_00 Requirement 1. Use the following ratio data to complete Vintage Mills' balance sheet. a. Current ratio is 0.80. b. Acid-test ratio is 0.40.

Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

Edition 3ISBN: 978-0132962339

Edition 3ISBN: 978-0132962339

Exercise 34

Using ratios to reconstruct a balance sheet
A skeleton of Vintage Mills' balance sheet appears as follows (amounts in thousands):

Requirement
1. Use the following ratio data to complete Vintage Mills' balance sheet.
a. Current ratio is 0.80.
b. Acid-test ratio is 0.40.

Explanation

Verified

b.
Now that we know total liabilities a...