The Beneke Corporation reported the following data: Cash Accounts Receivable Inventory Equipment Accounts Payable Notes Payable Revenue Year 3 $6,000 900 8,900 40,000 2,800 12,400 39,500 Year 2 $4,200 700 8,200 36,000 * 3.100 11.500 36,000 Year 1 $3,800 600 7,800 34,000 3,000 10,300 32,400 What is the company's debt to assets ratio for Year 3? Convert your final answer to a percentage. round to one decimal place and enter without the "%" sign (e.g. a final answer of 0.105678 would be entered as 10.6).

The Beneke Corporation reported the following data: Cash Accounts Receivable Inventory Equipment Accounts Payable Notes Payable Revenue Year 3 $6,000 900 8,900 40,000 2,800 12,400 39,500 Year 2 $4,200 700 8,200 36,000 * 3.100 11.500 36,000 Year 1 $3,800 600 7,800 34,000 3,000 10,300 32,400 What is the company's debt to assets ratio for Year 3? Convert your final answer to a percentage. round to one decimal place and enter without the "%" sign (e.g. a final answer of 0.105678 would be entered as 10.6).

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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The company's acid-test ratio is
K. Jackson Corporation Assets Cash Accounts receivable Inventory Net fixed assets Total assets Liabilities and owners' equity. Accounts payable ST Notes payable Long-term debt Owners' Equity Total liabilities and owner's equity Balance Sheet $250,000 450.000 500,000 2.100,000 $3,300.000 $100.000 450.000 1,050,000 1,700.000 $3,300,000 Income Statement Sales (all credit) Cost of goods sold Operating expense Interest expense Income taxes Net income $8,000,000 (4.000.000) (2,900,000) (150,000) (380,000) $570,000 Based on the information for K. Jackson Corporation, the current and acid-test ratios are, respectively. OA2.37 and 1.39. OB2 37 and 1.27 OC2 18 and 1.39 OD.2 18 and 1.27 OE None of the above.
Revenues Expenses Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense Total expenses Net income Assets Current assets Cash Marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Plant and equipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Other Total current liabilities Bonds payable Total liabilities Year 2 $219,100 Total liabilities and stockholders' equity 124, 400 19,700 10,000 1,700 20, 100 175,900 $ 43,200 $ 38,500 15,800 54,300 64,300 118,600 Stockholders' equity Common stock (43,000 shares) Retained earnings Total stockholders' equity 159,000 $277,600 $ 4,800 $ 7,200 2,800 2,800 36,600 31, 100 101,600 94, 100 3,900 2,900 149,700 138, 100 106,400 106,400 21,500 0 $277,600 $244,500 Year 1 $182,800 114,900 44, 100 101, 100 17,700 9,000 1,700 16,900 146,400 $36,400 $ 34,200 16, 200 50,400 65,300 115,700 114,900…
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1. The following accounts appeared on the partial Balance Sheet of Brandy Inc.: Accounts Payable Accounts Receivable $ 5,500 2,300 2,820 3,000 8,140 18,560 18,760 100 Bank Loan Cash Common Stock Inventory Long-term debt Machinery What is the total amount of all assets (rounded to the nearest dollar)?
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The balance sheet of RS Corp. as at December 31, 1979 contained the following current assets: Cash 96, 578 Accounts receivable 452,800 Inventories 376,300 925,678 An examination of the accounts disclosed that the accounts receivable consisted of the following items: Trade customers’ accounts 357,742 Due from employees – current 43,658 Equity in 50,000 of uncollected accounts receivable assigned under guaranty 16,000 Selling price of merchandise on consignment at 140% of cost and not sold 50,400 Allowance for doubtful accounts…