Question
The Jones Swimming Club has the following balance sheet: (Show all work). Assets Current assets $100,000.00 Non-current assets$1,900,000.00 Total assets $2,000,000.00 Liabilities and Owners Equity
The Jones Swimming Club has the following balance sheet: (Show all work).
Assets
Current assets $100,000.00
Non-current assets$1,900,000.00
Total assets $2,000,000.00
Liabilities and Owners
Equity Current liabilities $80,000.00
Long-term debt $920,000.00
Total liabilities $1,000,000.00
Owners equity $1,000,000.00
Total liabilities and owners equity $2,000,000.00
a. What is the current ratio for the Jones Swimming Club?
b. What is the debt/equity ratio for the club?
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A Fast And Frugal Finance
Authors: William P. Forbes, Aloysius Igboekwu, Shabnam Mousavi
1st Edition
0128124954, 978-0128124956
