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Add your answer S Company reported the following account balances on its After Closing Trial Balance (DR Debit/CR Credit) $7,000 CR Bonds Payable Supplies $7,000
Add your answer S Company reported the following account balances on its After Closing Trial Balance (DR Debit/CR Credit) $7,000 CR Bonds Payable Supplies $7,000 DR Accounts Receivable $1,000 DR Accounts Payables $5,000 CR Building & Land $13,000 DR $4,000 DR $5,000 DR Retained Earnings Cash Discount-Bonds Payable $2.000 DR If $4,000 of the Accounts Payable were paid using cash, what would be the debt to assets ratio taking into account the payment of the Accounts Payable? (Your answer should be entered as a decimal value, rounded to 4 places; example: .4567819 would be entered as .4568)
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