Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $260,000 Accounts Payable $100,000 Accounts Receivable $220,000 Notes Payable $140,000 Inventory $240,000 Long-term Debt $350,000 Property
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $260,000 | Accounts Payable | $100,000 |
Accounts Receivable | $220,000 | Notes Payable | $140,000 |
Inventory | $240,000 | Long-term Debt | $350,000 |
Property | $600,000 | Shareholders' Equity | $850,000 |
Calculate the debt-to-assets ratio for the company based on the provided balance sheet.
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
2nd Edition
0078110823, 9780078110825
