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defon
3 years ago
8

A personal balance sheet reports your income and expenses.

Business
1 answer:
Novay_Z [31]3 years ago
4 0
To answer the question above if a personal balance sheet is a report to your income and expenses. the answer is letter A, True. Balance sheet as a whole is a statement of the assets and liabilities, it details the income and expenditure over a preceding period of time.
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3 years ago
Allen, inc., has a total debt ratio of .34. what is its debt-equity ratio
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Total debt ratio is the ratio of total debt to total assets 
i.e 
Total debt ratio = Total debt / Total assets  
But Total assets is nothing but total equity plus total debt  
Now let us consider, 
TD = Total debt  
TE = Total equity 
TA= Total assets   
Therefore, 
Total debt ratio = TD/TA 
But as mentioned above 
TA = TD + TE  
total debt ratio = Total debt/(total debt+total equity) 
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.34 = TD / (TD + TE)  
Solving this equation yields:  
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Debt-equity ratio = TD / TE 
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