Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 14, 2024

A firm has total assets of $2,020,000. It has $907,000 in long-term debt. The stockholders equity is $707,000. What is the debt to total asset

A firm has total assets of $2,020,000. It has $907,000 in long-term debt. The stockholders equity is $707,000. What is the debt to total asset ratio? (Round your answer to the nearest whole percent.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Rehabilitation Tax Credit IRS Audit Techniques Guide

Authors: Internal Revenue Service

1st Edition

1304114686, 978-1304114686

More Books

Students also viewed these Accounting questions

Question

★★★★★

The comparative condensed balance sheets of Conard Corporation are presented below. Instructions(a) Prepare a horizontal analysis of the balance sheet data for Conard Corporation using 2010 as a...

Answered: 1 week ago

Question

★★★★★

Jackson Specialties has been in business for more than 50 years. The company maintains a perpetual inventory system, uses a LIFO flow assumption, and ends its fiscal year at December 31. At year-end,...

Answered: 1 week ago

Question

★★★★★

19. The first African American to earn a doctorate in psychology was . a. Karen Horney b. Mary Calkins c. Gilbert Haven Jones d. Sidney Beckham

Answered: 1 week ago

Question

★★★★★

The following transactions were completed by The Spencer Gallery during the current fiscal year ended December 31: Mar. 15. Reinstated the account of Brad Atwell, which had been written off in the...

Answered: 1 week ago

Question

★★★★★

A firm has total assets of $2,020,000. It has $907,000 in long-term debt. The stockholders equity is $707,000. What is the debt to total asset ratio? (Round your answer to the nearest whole percent.)

Answered: 1 week ago

Question

★★★★★

At the start of 2010 the UK was hit by extremely cold weather including snow and ice. As a result, there was a major increase in demand for salt to put on the roads to make them safer . However, the...

Answered: 1 week ago

Question

★★★★★

Marigold Corporation issued 2,200 shares of its $10 par value common stock for $58,400. Marigold also incurred $1,300 of costs associated with issuing the stock. Prepare Marigold's journal entry to...

Answered: 1 week ago

Question

★★★★★

Agencies are obligated to provide compensation to interns. O True False

Answered: 1 week ago

Question

★★★★★

The more a good or a service is considered to be a necessity, the relatively more demand will be.

Answered: 1 week ago

Question

★★★★★

CASE LO2, LO4, LO8, LO9, LO10] You have just been hired as a management trainee by Cravat Sales Company, a nationwide distributor of a designer's silk ties. The company has an exclusive franchise on...

Answered: 1 week ago

Question

★★★★★

1 . Why is it said an offer is a manifestation of willingness to enter into a contract? How could willingness be manifested ? 2 . Which kind of standard is used to determine whether a person has made...

Answered: 1 week ago

Question

★★★★★

4. Describe the factors that influence self-disclosure

Answered: 1 week ago

Question

★★★★★

2. List one family relationship, one friendship, and one romantic relationship in which you are or have been involved. For each of these relationships, list at least five self-disclosures you made to...

Answered: 1 week ago

Question

★★★★★

1. Explain key aspects of interpersonal relationships

Answered: 1 week ago

Previous Question Next Question