Question
Accounts Payable $72,000 Salaries Payable $8,000 Mortgages Payable (long-term) 76,000 Bonds Payable (current portion) 21,000 Interest Payable 23,000 Premium on Bonds Payable 9,000 Bonds Payable
Accounts Payable $72,000 Salaries Payable $8,000 Mortgages Payable (long-term) 76,000 Bonds Payable (current portion) 21,000 Interest Payable 23,000 Premium on Bonds Payable 9,000 Bonds Payable (long-term) 58,000 Unearned Revenue (short-term) 2,700 Total Stockholders' Equity 150,000
The accounting records of
Route Make
Wireless include the following as of December 31,
2016
(Click the icon to view the accounting records.)
Requirements
1. | Report these liabilities on the Route Maker Wireless balance sheet, including headings and totals for current liabilities and long-term liabilities. |
2. | Compute Route Maker Wireless's debt to equity ratio at December 31,20162 |
Requirement 1. Report these liabilities on the
Route Maker
Wireless balance sheet, including headings and totals for current liabilities and long-term liabilities.
Route Maker Wireless | |||||
Balance Sheet (Partial) | |||||
December 31, 2016 | |||||
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Total Liabilities |
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Requirement 2. Compute
Route Make
Wireless's debt to equity ratio at December 31,
2016
(Round the debt to equity ratio to two decimal places, X.XX.)
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| = | Debt to equity ratio |
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