Question

E2-28 (similar to) Question Help X i Data Table Jason Hilton, M.D., reported the following trial balance as of September 30, 2018: 3(Click the icon to view the trial balance.) Calculate the debt ratio for Jason Hilton, M.D. Select the debt ratio formula on the first line and then calculate the ratio. (Round the percentage to the neare = Debt ratio Account Title Cash Accounts Receivable Office Supplies Land Building Office Equipment Accounts Payable Utilities Payable Unearned Revenue Balance Debit Credit 33,000 7,800 2,700 22,000 80,000 28,000 1,700 1,100 17,890 73,000 100,000 53,000 57,460 23,000 Notes Payable Common Stock Dividends Service Revenue Salaries Expense Utilities Expense Advertising Expense 950 700 251,150 $ $ 251,150

Answer 1

X100 Debt ratio = ablet ble Total liabilities... Total Assets Total liabilities & Accounts Payable & eltilities thearned revenues & Notes Payable → $1700 + 1,100+ 17,890 + 73,000 - $ 93,690 lice Total Assets & cash + Accounts Receivablest ol supplied land + Building & Office Equipment → $33,000 + 7,800 + 2,700 + 22,000 98,000 = $1+3,500 00+ 2,700 + 22,000 + 80,000+ Debt ratio . $ 93,690 100 173,500 - 0.54 cor) 54%

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