e help with current cash debt coverage ratio and cash debt ratio

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter24: Analysis Of Financial Statements
Section: Chapter Questions
Problem 10SPA: RATIO ANALY SIS OF COMPARATI VE FIN ANCIAL STATE MENT S Refer to the financial statements in Problem...
icon
Related questions
Question

Please help with current cash debt coverage ratio and cash debt ratio

Assets
Cash
Accounts receivable
Inventory
Land
Equipment
Accumulated Depreciation-Equipment
Total
Liabilities and Stockholders' Equity
Accounts payable
Bonds payable
Common stock ($1 par)
Retained earnings
Total
Additional information:
1.
2.
3.
December 31
2020
$72,880
84,590
182,590
73,590
262,590
(71,590 )
$604,650
$36,590
150,000
214,000
204,060
$604,650
2019
$ 22,000
68,710
191,710
112,710
202,710
(44,710)
$553,130
$ 49,710
200,000
164,000
139,420
$553,130
Net income for 2020 was $130,180. No gains or losses were recorded in 2020.
Cash dividends of $65,540 were declared and paid.
Bonds payable amounting to $50,000 were retired through issuance of common stock.
Transcribed Image Text:Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 1. 2. 3. December 31 2020 $72,880 84,590 182,590 73,590 262,590 (71,590 ) $604,650 $36,590 150,000 214,000 204,060 $604,650 2019 $ 22,000 68,710 191,710 112,710 202,710 (44,710) $553,130 $ 49,710 200,000 164,000 139,420 $553,130 Net income for 2020 was $130,180. No gains or losses were recorded in 2020. Cash dividends of $65,540 were declared and paid. Bonds payable amounting to $50,000 were retired through issuance of common stock.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,