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Debit $ 5,000 Credit Accounts Receivable Accumulated Depreciation Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings $30,000 90,000 2,000 247,00e 10,000 ash8s Common
Debit $ 5,000 Credit Accounts Receivable Accumulated Depreciation Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings $30,000 90,000 2,000 247,00e 10,000 ash8s Common Stock, 10,000 shares of $1 par Notes Payable (long-term) Retained Earnings Treasury Stock TOTALS 10,000 10,000 120,000 $262,000 $262,000 The company entered into the following transactions during the year. Jan 15 Issued 5,000 shares of $1 par common stock for $50,000 cash Jan. 31 Collected $3,000 from customers on account. Feb. 15 Reacquired 3,000 shares of $1 par common stock into treasury for $33,000 cash. Mar. 15 Reissued 2,000 shares of treasury stock for $24,000 cash. Aug. 15 Reissued 600 shares of treasury stock for $4,600 casih Sept. 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. Oct. 1 Issued 100, 10-year, $1,000 bonds, at a quoted bond price of 101 Oct 3 Wrote off a $2,000 balance due from a customer who went bankrupt Dec. 29 Recorded $230,000 of service revenue, all of which was collected in cash. Dec. 30 Paid $200,000 cash for this year's wages through December 31 Ignore payroll taxes and payroll deductions. Dec. 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and inco taxes.) General Journal General Ledger Debt to Assets Ratio Requirement Trial Balance Balance Sheet Calculate the Debt to Assets Ratio and analyze the impact of the Debt to Assets Ratio Calculate the debt-to-assets ratio at January 1 and December 31. (Round your answer to 2 decimal places.) Debt to Assets Ratio 0.001%
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