Use the following information to answer the next two questions. Note that you may not need to
Fantastic news! We've Found the answer you've been seeking!
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 | ||||
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
Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1259066511
14th Canadian Edition
Authors: Larson Kermit, Jensen Tilly
Posted Date: