NARRBEGIN: Kooshy

-Refer to Kooshy.Suppose pro forma net income is $50 and pro forma total assets are $525.If accounts payable maintain the same percent of sales,no new long term debt is issued,and the only addition to owners' equity is to retained earnings,what will be the pro forma balance in notes payable for a forecasted 20% increase in sales? (That is,use notes payable as the balancing account.)

Question

NARRBEGIN: Kooshy
  
-Refer to Kooshy.Suppose pro forma net income is $50 and pro forma total assets are $525.If accounts payable maintain the same percent of sales,no new long term debt is issued,and the only addition to owners' equity is to retained earnings,what will be the pro forma balance in notes payable for a forecasted 20% increase in sales? (That is,use notes payable as the balancing account.)

Quizplus · Accepted Answer

The Answer of NARRBEGIN: Kooshy
  
-Refer to Kooshy.Suppose pro forma net income is $50 and pro forma total assets are $525.If accounts payable maintain the same percent of sales,no new long term debt is issued,and the only addition to owners' equity is to retained earnings,what will be the pro forma balance in notes payable for a forecasted 20% increase in sales? (That is,use notes payable as the balancing account.)

NARRBEGIN: Kooshy -Refer to Kooshy.Suppose Pro Forma Net Income Is $50 and Net