Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $150,000 Accounts Payable $60,000 Accounts Receivable $100,000 Notes Payable $70,000 Inventory $120,000 Long-term Debt $150,000 Property
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $150,000 | Accounts Payable | $60,000 |
Accounts Receivable | $100,000 | Notes Payable | $70,000 |
Inventory | $120,000 | Long-term Debt | $150,000 |
Property | $300,000 | Shareholders' Equity | $400,000 |
Determine the debt ratio for the company based on the provided balance sheet.
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Payroll Accounting
Authors: Bernard J. Bieg, Judith A. Toland
2013 edition
113396253X, 978-1133962533
