John Hart, M.D., reported the following trial balance as of September 30, 2018: Calculate the debt ratio
Question:
Calculate the debt ratio for John Hart, M.D.
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JOHN HART M.D. Trial Balance September 30, 2018 Balance Account Title Debit Credit $ 30,000 Cash Accounts Receivable 7,900 Office Supplies 3,000 Land 29,000 Building 75,000 Office Equipment 30,000 Accounts Payable %24 1,600 Utilities Payable 800 Unearned Revenue 24,795 Notes Payable 69,000 110,000 Common Stock Dividends 57,000 50,505 Service Revenue Salaries Expense 23,500 Utilities Expense Advertising Expense 1,100 200 $ 256,700 $ 256,700 Total
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Liabilities Accounts Payable 1600 Utilities Payable 800 Unearned ...View the full answer
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Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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