Please calculate the debts to asset ration for the year of 2019. Please show your work. Verizon Communications Inc. and Subsidiaries(dollars in millions, except per share amounts) (unaudited)AssetsCurrent assetsCash and cash equivalentsAccounts receivableLess Allowance for credit lossesLess Allowance for doubtful accountsAccounts receivable, net (Note 1)InventoriesPrepaid expenses and otherTotal current assetsProperty, plant and equipmentLess Accumulated depreciationProperty, plant and equipment, netInvestments in unconsolidated businessesWireless licenses.GoodwillOther intangible assets, netOperating lease right-of-use assetsOther assetsTotal assetsLiabilities and EquityCurrent liabilitiesDebt maturing within one yearAccounts payable and accrued liabilitiesCurrent operating lease liabilitiesOther current liabilitiesTotal current liabilitiesLong-term debtEmployee benefit obligationsDeferred income taxesNon-current operating lease liabilitiesOther liabilitiesTotal long-term liabilities$At September 30,20208,983 S23,8461,22922,6171,4575,51538,572276,210183,02893,18253595,95824,7999,59922,68011,669296,994 S5,770 S17,3913,4949,53036,185109,79018,75634,56718,15513,011194,279At December 31,20192,59426,16273325,4291,4228,02837,473265,734173,81991,91555895,05924,3899,49822,69410,141291,72710,77721,8063,2619,02444,868100,71217,95234,70318,39312,264184,024

The debt-to-total-assets ratio reveals how much of a firm is owned by creditors (those it has…

con Communications Inc. and Subsidiaries lars in millions, except per share amounts) (unaudited) ets rent assets "ash and cash equivalents ccounts receivable Less Allowance for credit losses Less Allowance for doubtful accounts ccounts receivable, net (Note 1) ventories repaid expenses and other al current assets perty, plant and equipment ess Accumulated depreciation perty, plant and equipment, net estments in unconsolidated businesses eless licenses dwill er intangible assets, net =rating lease right-of-use assets At September 30, 2020 8,983 23,846 1,229 22,617 1,457 5,515 38,572 276,210 183,028 93,182 535 95,958 24,799 9,599 22,680 11 660 $ At December 31, 2019 2,594 26,162 733 25,429 1,422 8,028 37,473 265,734 173,819 91,915 558 95,059 24.389 9,498 22,694 10 141

con Communications Inc. and Subsidiaries lars in millions, except per share amounts) (unaudited) ets rent assets "ash and cash equivalents ccounts receivable Less Allowance for credit losses Less Allowance for doubtful accounts ccounts receivable, net (Note 1) ventories repaid expenses and other al current assets perty, plant and equipment ess Accumulated depreciation perty, plant and equipment, net estments in unconsolidated businesses eless licenses dwill er intangible assets, net =rating lease right-of-use assets At September 30, 2020 8,983 23,846 1,229 22,617 1,457 5,515 38,572 276,210 183,028 93,182 535 95,958 24,799 9,599 22,680 11 660 $ At December 31, 2019 2,594 26,162 733 25,429 1,422 8,028 37,473 265,734 173,819 91,915 558 95,059 24.389 9,498 22,694 10 141

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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