Jason Hilton, M.D., reported the following trial balance as of September 30, 2016: Calculate the debt ratio
Question:
Jason Hilton, M.D., reported the following trial balance as of September 30, 2016:
Calculate the debt ratio for Jason Hilton, M.D.
The business uses the following accounts: Cash; Accounts Receivable; Office Supplies; Land; Accounts Payable; Advertising Payable; Unearned Revenue; Notes Payable;
Transcribed Image Text:
JASON HILTON, M.D Trial Balance September 30, 2016 Balance Account Title Cash Accounts Receivable Office Supplies Office Equipment Building Land Accounts Payable Utilities Payable Unearned Revenue Notes Payable Common Stock Dividends Service Revenue Salaries Expense Utilities Expense Advertising Expense Total Debit Credit $ 37,000 7,200 2,600 22,000 85,000 24,000 $1,800 700 18,290 77,000 100,000 50,000 54,810 23,100 900 800 S252,600 252,600
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
Liabilities Accounts Payable 1800 Utilities Payable 700 Unearned ...View the full answer
Answered By
OTIENO OBADO
I have a vast experience in teaching, mentoring and tutoring. I handle student concerns diligently and my academic background is undeniably aesthetic
4.30+
3+ Reviews
10+ Question Solved
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Question Posted:
Students also viewed these Accounting questions
-
John Hart, M.D., reported the following trial balance as of September 30, 2018: Calculate the debt ratio for John Hart, M.D. JOHN HART M.D. Trial Balance September 30, 2018 Balance Account Title...
-
The following is the adjusted trial balance as of December 31, 2020 of ABC Company. Prepare CLOSING entries. (25 pts.) Accounts Debit Credit Cash $18,000 Accounts Receivable 30,000 Prepaid Insurance...
-
John Hill, M. D. reported the following trial balance as of September 30, 2015. Calculate the debt ratio for John Hill, M.D. JOHN HILL, M.D. Trial Balance September 30, 2015 Balance Account Title...
-
The retail inventory method is used by The Bronx Company. Inventory, purchases, and sales data for 2016 are as follows: Using the retail method, calculate the Lower-of-Average-Cost or Market of the...
-
The Canadian Constitution gives the provinces control over property and civil rights, which includes the regulation of credit and registration of property as security for credit. Do the benefits to...
-
A jar contains 36 disks: 9 each of four colorsred, green, blue, and yellow. Each set of disks of the same color is numbered from 1 to 9. Suppose you draw one disk at random from the jar. Define...
-
How many ways can a company select 4 candidates to interview from a short list of 12 engineers?
-
Hinkel Rotary Engine, Ltd., produces four- and sixcylinder models of automobile engines. The firm's profit for each four-cylinder engine sold during its quarterly production cycle is $1,800 $50X1,...
-
Property worth $462,000.00 can be purchased for 5% down and mortgage payments of $2550.00 at the end of each month for 30 years. What is the nominal annual rate of interest compounded monthly?
-
The Roopchand Departmental Stores, New Delhi, has a separate section to sell winter garments. This section consists of two groups : permanent clerks and temporary clerks appointed during winter...
-
The following trial balance of Carla Madock Tutoring Service as of May 31, 2016, does not balance. Investigation of the accounting records reveals that the bookkeeper: a. Recorded a $600 cash revenue...
-
Vincent Yarwood practices medicine under the business title Vincent Yarwood, M.D. During July, the medical practice completed the following transactions: Jul. 1 Yarwood contributed $68,000 cash to...
-
A reader of Gigantic Companys consolidated financial statements received from another source copies of the financial statements of the individual companies included in the consolidation. The person...
-
Create a marketing plan for Kuwait Flour Mills & Bakeries Company: Define its competitive advantage (a set of unique features of a company and its products that are perceived by the target market as...
-
Each shade requires a total of $50.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 90 poles in...
-
For each of the following independent cases (1 to 4), compute the missing values. (Enter all amounts as positive values.) Beginning raw materials Raw materials purchases Indirect materials issued...
-
Mike Evergreen wants to expand the operations of Simcoe Lawns. In order to do so he needs additional funding and has approached the bank in this regard. You are a CPA and your task is to report back...
-
Armando is buying a house worth 500,000, and must decide whether to take on a fixed or adjustable rate mortgage (ARM). The term of the loan is T = 15 years, with n = 12 monthly payments per year. (a)...
-
Give one advantage that a club will obtain by running a life membership scheme.
-
The Alert Company is a closely held investment-services group that has been very successful over the past five years, consistently providing most members of the top management group with 50% bonuses....
-
Beth Nelson started her practice as a design consultant on November 1, 2015. During the first month of operations, the business completed the following transactions: Nov. 1 Received $ 34,000 cash and...
-
Vince Perez opened a law office on April 1, 2015. During the first month of opera-tions, the business completed the following transactions: Apr. 1 Perez contributed $ 62,000 cash to the business,...
-
The trial balance of John Hilton, CPA, is dated March 31, 2015: During April, the business completed the following transactions: Apr. 4 Collected $ 7,000 cash from a client on account. 8 Performed...
-
4. Methane burns in air with an equivalence ratio of =0.85, determine the composition of the products: What are the Mass Fractions of each species in the Products?
-
1. Describe the health and safety requirements of the area in which the installation activity is to take place, and the responsibility these requirements place on the learner 2. Describe the...
-
1. Which is easier for nucleation in solids, homogeneous or heterogeneous nucleation? What are the common defects present in solid solution (list at least five kinds of defects)? Are the defects...
Study smarter with the SolutionInn App