Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $300,000 Accounts Payable $120,000 Accounts Receivable $220,000 Notes Payable $130,000 Inventory $240,000 Long-term Debt $350,000 Property
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $300,000 | Accounts Payable | $120,000 |
Accounts Receivable | $220,000 | Notes Payable | $130,000 |
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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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th edition
978-1285069609, 1285069609, 978-1133607601
