Question

Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand Total Current Assets T
Shareholder Equity: Common Stock Additional Capital Retained Earnings Total Shareholder Equity Total Liabilities and Sharehol
0 0
Add a comment Improve this question Transcribed image text
✔ Recommended Answer
Answer #1

Answer - 0.48

Debt- Asset ratio = Debt / Asset

= 200000/ 420000

= 0.476

=0. 48 (approx)

A Thumbs Up! Would be really helpful for me. If you have any questions, please leave a comment and I will get back to you as soon as possible.

Add a comment
Know the answer?
Add Answer to:
Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Similar Homework Help Questions
  • Question 6 Next> < Previous Given the following Year 9 selected balance sheet data: Assets $126,000...

    Question 6 Next> < Previous Given the following Year 9 selected balance sheet data: Assets $126,000 245,000 240,000 $485,000 Cash on Hand Total Current Assets Total Fixed Asset Investments Total Assets Liabilities and Shareholder Equity Accounts Payable Overdraft Loan Payable 1-Year Bank Loan Payable Current Portion of Long-Term Loans Total Current Liabilities Long-Term Bank Loans Total Liabilities S 66,000 0 0 17,000 83,000 66,000 149,000 Year 8 Year 9 Balance Change Shareholder Equity: 10,050 81,500 0 Common Stock (at a...

  • evious Question 19 Jen the following Year 9 selected balance sheet data: $126,000 245,000 240,000 $485,000...

    evious Question 19 Jen the following Year 9 selected balance sheet data: $126,000 245,000 240,000 $485,000 $ 66,000 Assets Cash on Hand Total Current Assets Total Fixed Asset Investments Total Assets Liabilities and Shareholder Equity Accounts Payable Overdraft Loan Payable 1-Year Bank Loan Payable Current Portion of Long-Term Loans Total Current Liabilities Long-Term Bank Loans Total Liabilities Shareholder Equity: Common Stock (at a par value of $0.50 per share Additional Capital Retained Earnings Total Shareholder Equity Total Liabilities and Shareholder...

  • Recast Frosty Footwear's balance sheet for the last year, considering the balance sheet adjustments for the...

    Recast Frosty Footwear's balance sheet for the last year, considering the balance sheet adjustments for the asset approach to business value. Recommend a business value using the asset approach. Exhibit 2: Frosty Footwear Inc. Balance Sheets for Years 2006-2007 12/31/2007 12/31/2006 $ Current Assets Cash Accounts Receivable (net 5,000) Inventory Prepaid Expenses $ 503,443 613,485 852,343 391,347 610,525 654,684 33,035 Total Current Assets $1,969,271 $ 1,689,591 Property, Plant & Equipment Leasehold Improvements Furniture & Fixtures Machinery & Equipment Vehicles 5,120...

  • 2020 Question #3 Springhill Corporation Balance Sheet December 31, 2021, and December 31", 2020 (in thousands)...

    2020 Question #3 Springhill Corporation Balance Sheet December 31, 2021, and December 31", 2020 (in thousands) 2021 Assets Current Assets: Cash $90,000 Accounts Receivable 60,000 Inventory 18,000 Prepaid Expenses 2,000 Total Current Assets 170,000 Capital Assets (PP&E) 50,000 Total Assets $220,000 $57,000 40,000 10,000 1,000 108,000 30,000 $138,000 Liabilities: Accounts Payable Accrued Liabilities Income Taxes Payable Total Current Liabilities Long Term Debt Total liabilities $11,000 6,000 5,000 22,000 40,000 362,000 $4,000 3,000 8,000 15,000 8,000 S23,000 Shareholders' Equity Common Shares...

  • Recast Frosty Footwear's balance sheet for the last year, considering the balance sheet adjustments for the...

    Recast Frosty Footwear's balance sheet for the last year, considering the balance sheet adjustments for the asset approach to business value. Recommend a business value using the asset approach. 10. In reviewing Frosty Footwear's 2007 balance sheet with the owners, Gary identified $25,000 of scrap inventory still on the books. 11. Accelerated depreciation had been used for income tax purposes (Internal Revenue Code $ 168) but straight-linc depreciation would have been $198,845 less over the years of fixed assets' ownership....

  • The following is the balance sheet of Rubber Industries RUBBER INDUSTRIES Balance Sheet For the Year...

    The following is the balance sheet of Rubber Industries RUBBER INDUSTRIES Balance Sheet For the Year Ended December 31, 2012 Assets Current assets: Cash Marketable equity securities Accounts receivable, net Inventory Treasury stock $ 50,000 19,000 60,000 30,000 20,000 $179,000 Total current assets Land and buildings, net Short-term U.S. notes Plant assets 160,000 20,000 4,000 Investments Other assets: Supplies Total assets Liabilities and Stockholders' Equity Liabilities Bonds payable Accounts payable Wages payable $123,000 40,000 10,000 Total liabilities Stockholders' equity: Common...

  • 2020 Question #3 Springhill Corporation Balance Sheet December 31, 2021, and December 31", 2020 (in thousands)...

    2020 Question #3 Springhill Corporation Balance Sheet December 31, 2021, and December 31", 2020 (in thousands) 2021 Assets Current Assets: Cash $90,000 Accounts Receivable 60,000 Inventory 18,000 Prepaid Expenses 2,000 Total Current Assets 170,000 Capital Assets (PP&E) 50,000 Total Assets $220,000 $57,000 40,000 10,000 1,000 108,000 30,000 $138,000 Liabilities: Accounts Payable Accrued Liabilities Income Taxes Payable Total Current Liabilities Long Term Debt Total liabilities $11,000 6,000 5,000 22,000 40,000 362,000 $4,000 3,000 8,000 15,000 8,000 S23,000 Shareholders' Equity Common Shares...

  • Question 4 (3 points) Rocky Johnson just reported the following balance sheet for the end of...

    Question 4 (3 points) Rocky Johnson just reported the following balance sheet for the end of 2018. Find the quick ratio for the firm. Format 1.23x as 1.23 Know Your Role Boulevard, LLC Assets: Cash and Marketable Securities $420,000 Accounts Receivable Inventory Total Current Assets Gross Fixed Assets Accumulated Depreciation $2,225,000 Net Fixed Assets Total Assets Liabilities and Shareholder Equity $ Accounts Payable Notes Payable Total Current Liabilities Long term Debt Total Liabilities Common Stock Retained Earnings Total Shareholder Equity...

  • Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as...

    Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as follows: Year 1 Year 2 Assets Cash $ 100,000 $ (50,000) Accounts receivable (net) 50,000 100,000 Inventory 100,000 250,000 Equipment (net) 300,000 350,000 Total assets $ 550,000 $ 650,000 Liabilities and Equity Accounts payable $ 150,000 100,000 Income taxes payable 80,000 30,000 Bonds payable 100,000 80,000 Common stock 100,000 200,000 Retained earnings 120,000 240,000 Total liabilities and Equity $ 550,000 $ 650,000 The change...

  • Consider the following company's balance sheet and income statement. Balance Sheet Liabilities and Equity Assets Cash...

    Consider the following company's balance sheet and income statement. Balance Sheet Liabilities and Equity Assets Cash Accounts receivable Inventory Total current assets Fixed assets $ 12,000 Accounts payable 67,000 Notes payable $ 38,000 20,000 48,000 127,000 Total current liabilities 58,000 20,000 125,000 $203,000 76,000 Long-term debt Equity $203,000 Total liabilities and equity Total assets Income Statement Sales (all on credit) Cost of goods sold Gross margin Selling and administrative expenses Depreciation EBIT Interest expense Earnings before tax Taxes Net income...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT