Question
Use the following information to answer the next two questions. Note that you may not need to use all the accounts below. Dec 31,2022 balances
Use the following information to answer the next two questions. Note that you may not need to use all the accounts below.
Dec 31,2022 balances | ||||
Assets | ||||
Cash | 15,000 | |||
Marketable securities | 10,000 | |||
Accounts reeivable, net | 20,000 | |||
Inventory | 30,000 | |||
Prepaid assets | 8,000 | |||
Property, plant and equipment | 117,000 | |||
Total assets | 200,000 | |||
Liabilities and Equity | ||||
Accounts payable | 10,000 | |||
Taxes payable | 20000 | |||
Mortgage payable | 50,000 | |||
Common stock ($10 par) | 100,000 | |||
Retained earnings | 5,000 | |||
Stockholders's equity | 15,000 | |||
Total liabilities and equity | 200,000 |
Calculate the current ratio.
What is the debt to equity ratio
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Fundamental Accounting Principles Volume II
Authors: Larson Kermit, Jensen Tilly
14th Canadian Edition
71051570, 0-07-105150-3, 978-0071051576, 978-0-07-10515, 978-1259066511
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