FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In a recent year's financial statements. Home Depot reported the following: Total liabilities = $32.124 million and Total assets $41,946 million. Compute Home Depot's debt

image text in transcribed

In a recent year's financial statements. Home Depot reported the following: Total liabilities = $32.124 million and Total assets $41,946 million. Compute Home Depot's debt ratio (assume competitors average a 69.0% debt ratio). (Round your answer to one decimal place.) Debt ratio

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Management Audit How To Create An Effective Management Team

The Management Audit How To Create An Effective Management Team

Authors: Michael Craig-Cooper, Philippe De Backer

1st Edition

0273600044, 978-0273600046

More Books

Students also viewed these Accounting questions

Question

★★★★★
Compare the transportation costs for an e-business such as Amazon.com and a retailer such as Home Depot when selling home-improvement materials.

Answered: 1 week ago

Question

★★★★★
Juniper Enterprises sells handmade clocks. Its variable cost per clock is $16.20, and each clock sells for $27.00. The company's fixed costs total $7,344 How many units must Juniper sell to earn a...

Answered: 1 week ago

Question

★★★★★
10. In Example 4.3, Gary is currently in a cheerful mood. What is the probability that he is not in a glum mood on any of the following three days?

Answered: 1 week ago

Question

★★★★★
The U-Z Door Company manufactures garage door units. The units include hinges, door panels, and other hardware. Prepare a direct materials purchases budget for the first quarter of the year based on...

Answered: 1 week ago

Question

★★★★★
In a recent year's financial statements. Home Depot reported the following: Total liabilities = $32.124 million and Total assets $41,946 million. Compute Home Depot's debt ratio (assume competitors...

Answered: 1 week ago

Question

★★★★★
where the market demand function for a good is given as P = 80 - q, and the marginal cost (in dollars) of producing as MC = 1q, suppose now that the process of producing the good creates external...

Answered: 1 week ago

Question

★★★★★
What Would You Do? Michael Michael is a student in your fifth-grade class. His father passed away in an automobile accident last year. Before his father's death Michael always did well in school and...

Answered: 1 week ago

Question

★★★★★
Exercise 8-23 (Algo) Preparing a balance sheet LO P1, P3, P4 Selected accounts from Gregor Company's adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet....

Answered: 1 week ago

Question

★★★★★
57 Question: Prime cost A service for a sports car requires 3 hours of a skilled mechanic's time followed by 1/2 hour of unskilled labour. Rates of pay are (a) Skilled: 9 per hour (b) Unskilled: 5...

Answered: 1 week ago

Question

★★★★★
QUESTION 1 The fundamental principles of community psychology include: a respect for diversity. an understanding of the difference between normalcy and pathology. an appreciation for statistical...

Answered: 1 week ago

Question

★★★★★
Pamrod Manufacturing acquired all the assets and liabilities of Stafford Industries on January 1, 20X2, in exchange for 4,000 shares of Pamrod's $20 par value common stock. Balance sheet data for...

Answered: 1 week ago

Question

★★★★★
For each of the following situations, indicate whether the direct or the indirect organizational plan would be most appropriate and why. (Objective 2) a. One of your sales representatives applied for...

Answered: 1 week ago

Question

★★★★★
Explain why spell checkers and style checkers do not replace proofreading. (Objective 2 )

Answered: 1 week ago

Question

★★★★★
Using the indirect plan, indicate the most coherent order for these sentences by listing their letters in that order: a. The evening meal is a perfect time for families to talk and share events of...

Answered: 1 week ago

Previous Question Next Question