Homework Answers
Solution:
The formula for calculating the Debt – Equity Ratio is = Total Liabilities / Total Equity
As per the information given in the question we have
Accounts Payable = $ 3,450 ; Salaries Payable = $ 7,130
Bonds Payable ( Due in ten years ) = $ 17,500
Thus the Total Liabilities = Accounts Payable + Salaries Payable + Bonds Payable
= $ 3,450 + 7,130 + $ 17,500
= $ 28,080
Thus the total value of Liabilities = $ 28,080
Further as per the information given in the question we have
Common Stock = $ 11,000 ; Retained Earnings = $ 36,370
Thus the Total Equity = Common Stock + Retained Earnings
= $ 11,000 + $ 36,370
= $ 47,370
Thus the total value of equity = $ 47,370
Applying the available information in the formula for Debt Equity Ratio we have
= $ 28,080 / $ 47,370
= 0.592780
= 59.2780 %
= 59.28 % ( when rounded off to two decimal places )
Thus the Debt – Equity Ratio = 59.28 %
Add Answer to:
The following balance sheet information is provided for Santana Company for Year 2: Assets $7,800 Cash...
The following balance sheet information is provided for Apex Company for Year 2: Assets Cash Accounts...
The following balance sheet information is provided for Apex Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,800 13,950 15,900 2,700 20,600 14,500 $75,450 $ 3,450 7,130 17,500 11,000 36, 370 $75,450 Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment,...
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts...
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 5,600 11,750 14,800 1,600 19,500 13,400 $66,650 $ 2,790 8,230 12,000 16,500 27,130 $66,650 What is the company's current ratio? (Round your answer to 2...
The following balance sheet information is provided for Greene Company for Year 2: Assets Cash 5,600...
The following balance sheet information is provided for Greene Company for Year 2: Assets Cash 5,600 11,750 14,800 1,600 19,500 13,400 Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets $66, 650 Liabilities and Stockholders Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par $ 2,790 8,230 12, 000 16,500 27,130 Retained earnings Total liabilities and stockholders ' equity $66, 650 What is the company's quick (acid-test) ratio? (Round...
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts...
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 5,400 11,550 14,700 1,500 19,400 13,300 $65,850 $ 2,730 8,330 11,500 17,000 26,290 $65,850 ings What is the company's current ratio? (Round your answer to...
The following balance sheet Information is provided for Duke Company for Year 2 Assets Cash Accounts...
The following balance sheet Information is provided for Duke Company for Year 2 Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation $ 4,800 10,950 14,400 1,200 19, 100 13,000 $63,450 Tand Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total 1labilities and stockholders' equity $ 2,550 8,630 10,000 18,500 23,770 $63,450 What is the company's current ratio? (Round your answer to...
Mayfield Corporation has provided the following financial data: Balance Sheet Assets Current assets: Cash $ 288,000...
Mayfield Corporation has provided the following financial data: Balance Sheet Assets Current assets: Cash $ 288,000 Accounts receivable, net 301,000 Inventory 228,000 Prepaid expenses 23,000 Total current assets 840,000 Plant and equipment, net 730,000 Total assets $ 1,570,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 234,000 Accrued liabilities 65,000 Notes payable, short term 58,000 Total current liabilities 357,000 Bonds payable 126,000 Total liabilities 483,000 Stockholders' equity: Common stock, $4 par value 386,000 Additional paid-in capital 93,000 Retained earnings...
Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation $ 4,600 10,750...
Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation $ 4,600 10,750 14,300 1,100 19,000 12,900 $62,650 Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 2,490 8,730 9,500 19,000 22,930 $62,650 What is the company's quick (acid-test) ratio? (Round your answer to 2 decimal places.)
2. Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents 33,000...
2.
Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents 33,000 $26,300 Accounts receivable 19,000 22,000 62,000 59,000 Inventory Prepaid expenses 12,400 10,200 126,400 117,500 Total current assets Property, plant, and equipment 398,000 378,000 199,000 170,100 207,900 Less accumulated depreciation 199,000 Net property, plant, and equipment $325,400 $325,400 Total assets Liabilities and stockholders' equity: Current liabilities: $ 16,200 Accounts payable $11,000 Accrued liabilities 54,000 58,000 Income taxes payable 72,000 74,000 Total current liabilities 142,200 143,000...
please help me feel out this balance sheet with the provided information. A company has the...
please help me feel out this balance sheet with the provided
information.
A company has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $25,500 2,900 32,500 10,000 17,500 19,500 38,500 5,900 Required: Use only the appropriate accounts to prepare a balance sheet. Required: Use only the appropriate accounts to prepare a balance sheet. Balance Sheet December 31 Assets Liabilities Total liabilities...
Balance Sheet Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services...
Balance Sheet Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Assets Current assets: Cash $19,600 Accounts payable 33,300 Supplies 8,900 Prepaid insurance 15,900 Land 254,100 Total current assets $331,800 Property, plant, and equipment: Building $531,800 Equipment 120,300 Total property, plant, and equipment 864,800 Total assets $1,196,600 Liabilities Current liabilities: Accounts receivable $44,500 Accumulated depreciation-building 219,000 Accumulated depreciation-equipment 35,600 Net income 190,300 Total liabilities $489,400...
The following balance sheet information is provided for Apex Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,800 13,950 15,900 2,700 20,600 14,500 $75,450 $ 3,450 7,130 17,500 11,000 36, 370 $75,450 Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment,...
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 5,600 11,750 14,800 1,600 19,500 13,400 $66,650 $ 2,790 8,230 12,000 16,500 27,130 $66,650 What is the company's current ratio? (Round your answer to 2...
The following balance sheet information is provided for Greene Company for Year 2: Assets Cash 5,600 11,750 14,800 1,600 19,500 13,400 Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets $66, 650 Liabilities and Stockholders Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par $ 2,790 8,230 12, 000 16,500 27,130 Retained earnings Total liabilities and stockholders ' equity $66, 650 What is the company's quick (acid-test) ratio? (Round...
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 5,400 11,550 14,700 1,500 19,400 13,300 $65,850 $ 2,730 8,330 11,500 17,000 26,290 $65,850 ings What is the company's current ratio? (Round your answer to...
The following balance sheet Information is provided for Duke Company for Year 2 Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation $ 4,800 10,950 14,400 1,200 19, 100 13,000 $63,450 Tand Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total 1labilities and stockholders' equity $ 2,550 8,630 10,000 18,500 23,770 $63,450 What is the company's current ratio? (Round your answer to...
Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation $ 4,600 10,750 14,300 1,100 19,000 12,900 $62,650 Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 2,490 8,730 9,500 19,000 22,930 $62,650 What is the company's quick (acid-test) ratio? (Round your answer to 2 decimal places.)
2.
Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents 33,000 $26,300 Accounts receivable 19,000 22,000 62,000 59,000 Inventory Prepaid expenses 12,400 10,200 126,400 117,500 Total current assets Property, plant, and equipment 398,000 378,000 199,000 170,100 207,900 Less accumulated depreciation 199,000 Net property, plant, and equipment $325,400 $325,400 Total assets Liabilities and stockholders' equity: Current liabilities: $ 16,200 Accounts payable $11,000 Accrued liabilities 54,000 58,000 Income taxes payable 72,000 74,000 Total current liabilities 142,200 143,000...
please help me feel out this balance sheet with the provided
information.
A company has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $25,500 2,900 32,500 10,000 17,500 19,500 38,500 5,900 Required: Use only the appropriate accounts to prepare a balance sheet. Required: Use only the appropriate accounts to prepare a balance sheet. Balance Sheet December 31 Assets Liabilities Total liabilities...
Balance Sheet Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Assets Current assets: Cash $19,600 Accounts payable 33,300 Supplies 8,900 Prepaid insurance 15,900 Land 254,100 Total current assets $331,800 Property, plant, and equipment: Building $531,800 Equipment 120,300 Total property, plant, and equipment 864,800 Total assets $1,196,600 Liabilities Current liabilities: Accounts receivable $44,500 Accumulated depreciation-building 219,000 Accumulated depreciation-equipment 35,600 Net income 190,300 Total liabilities $489,400...
Most questions answered within 3 hours.
-
26) Briefly describe, using words or simple diagrams, the
chemiosmotic theory for coupling oxidation to phosphorylation...
asked 33 minutes ago -
Suppose that XX is a random variable with mean 16 and standard
deviation 5 . Also...
asked 1 hour ago -
Calculate the number density of argon gas at a temperature of
24C and a pressure of...
asked 4 hours ago -
Alternative
Classification
How to Estimate
Probabilities from Data? ( For continuous Attributes)
And How to generate...
asked 4 hours ago -
An explosion breaks a 20.0-kg object into three parts. The
object is initially moving at a...
asked 5 hours ago -
Calculate the approximate number of residues of Rubisco, which
is involved in carbon fixation in plants,...
asked 6 hours ago -
Other decisions about scientific claims can have a much broader
impact.ENERGYarrow-10x10.png, environment, health, security - all...
asked 7 hours ago -
I need to write a research paper and work cited about this
topic: The United States...
asked 7 hours ago -
Hello! I was wondering if I could have some help?
If the vapor pressure of carvone...
asked 8 hours ago -
An economist wants to estimate the mean per capita income (in
thousands of dollars) for a...
asked 8 hours ago -
What would be the input/output characteristic of a circuit
obtained by putting two of your 2's-complementers...
asked 8 hours ago -
In Drosophila, the transition from the syncytial blastoderm
stage to the cellular blastoderm stage is a...
asked 8 hours ago