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Nat2105 [25]
2 years ago
5

A corporation reports the following year-end balance sheet data. The company's equity ratio equals: Cash $ 58,000 Current liabil

ities $ 93,000 Accounts receivable 73,000 Long-term liabilities 44,000 Inventory 78,000 Common stock 118,000 Equipment 163,000 Retained earnings 117,000 Total assets $ 372,000 Total liabilities and equity $ 372,000a. 0.37 b. 2.25 c. 0.58 d. 0.63 e. 1.41
Business
1 answer:
aleksley [76]2 years ago
8 0

Answer:

Option D. 0.63

Explanation:

Equity ratio can be calculated by dividing Total equity and total

assets as given in the question

DATA

Total assets = $372,000

Total Equity and liabilities = $372,000

Solution

Total equity = total assets - total liabilities

Total equity = $372,000 - $93,000 - $44,000

Total equity = $ 235,000.

Equity Ratio = Total Equity / Total Asset.

Equity Ratio = $ 235,000 / $ 372,000

Equity Ratio = 0.63.

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4 0
1 year ago
Help me out, please.
AlekseyPX

Answer:

a) Sub total of Kevin's order = $49.99

b) Total of Kevin's order = $62.99

Explanation:

In an invoice, the subtotal for a person's transaction of order is the sum of the item only without the addition of taxes, shipping, credit card fees(if they order and pay for the item online), discounts e.t.c

The total amount for the purchase of an order is the sum total which includes cost of the goods, discounts, taxes, shipping fees e.t.c.

For Kevin,

a) His Subtotal is the cost of his Base ball jacke × number of jackets

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b) Total of Kevin's order

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6 0
3 years ago
When interest is accrued on a note payable, but not paid, the A. Interest Expense account is increased; the Interest Payable acc
olchik [2.2K]

Answer:

C. Interest Expense account is increased; the Interest Payable account is increased.

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8 0
3 years ago
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