Suppose that for 2010 Axel Company’s current assets totaled $57,855; total assets totaled $449,999; current liabilities totaled $71,264; and total liabilities totaled $424,424. Calculate the debt-to-equity ratio for Axel for 2010.
Answer to relevant QuestionsTell whether each of the following liabilities is definitely determinable or an estimate: salaries payable, warranty liability, and notes payable.For each of the following situations, compute the proceeds from the bond issue:1. Quality Bank issued $100,000 worth of bonds at 104.2. Tool & Dye Company issued $50,000 worth of bonds at 98.3. Connie’s Can Company issued ...Larry the Locksmith needed some long-term financing and arranged for a $200,000, 20-year mortgage loan on December 31, 2009. The interest rate is 7% per year, with $20,000 (rounded) payments made at the end of each year, ...On June 30, 2009, Sam’s Office Supplies issued $50,000 face value of 8% bonds at 106. They were five-year bonds with interest paid semiannually, on December 31 and June 30.1. What are the interest payments for the first ...During March, the Wessue Coffee Emporium’s employees earned wages of $18,000. Social security (FICA) withheld was $1,377; federal income taxes withheld were $3,600; and employees’ contributions to the American Red Cross ...
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