FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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what is the debt to equity ratio rounded to 2 decimal places? i keep getting 0.83 but it’s not correct.
Assets
Current Assets:
TMT, Inc.
Balance Sheet
For the year ended 12/31/20X1
Cash and Cash Equivalents
Short-Term Investments
Account Receivable
Inventory
Total Current Assets
Property and Equipment
Long-Term Investments
Goodwill
Total Assets
$300,000
150,000
150,000
1,000,000
$1,600,000
Liabilities
Current Liabilities:
0
Accounts Payable
Taxes Payable
Total Current Liabilities
Long-Term Debt
Other
$4,400,000
1,500,000 Total Liabilities
Shareholders' Equity
Total Liabilities and
$7,500,000 Shareholders' Equity
$ 500,000
250,000
$750,000
$2,000,000
650,000
$3,400,000
4,100,000
$7,500,000
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Transcribed Image Text:Assets Current Assets: TMT, Inc. Balance Sheet For the year ended 12/31/20X1 Cash and Cash Equivalents Short-Term Investments Account Receivable Inventory Total Current Assets Property and Equipment Long-Term Investments Goodwill Total Assets $300,000 150,000 150,000 1,000,000 $1,600,000 Liabilities Current Liabilities: 0 Accounts Payable Taxes Payable Total Current Liabilities Long-Term Debt Other $4,400,000 1,500,000 Total Liabilities Shareholders' Equity Total Liabilities and $7,500,000 Shareholders' Equity $ 500,000 250,000 $750,000 $2,000,000 650,000 $3,400,000 4,100,000 $7,500,000
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