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Alpha Company provided the following balance sheet for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity What is the company's plant assets to long-term liabilities ratio? $ 6,150 17,000 19,500 22,300 40,000 $ 104,950 $ 6,000 13,000 10,000 45,000 30,950 $ 104,950

Alpha Company provided the following balance sheet for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity What is the company's plant assets to long-term liabilities ratio? $ 6,150 17,000 19,500 22,300 40,000 $ 104,950 $ 6,000 13,000 10,000 45,000 30,950 $ 104,950

FINANCIAL ACCOUNTING
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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Alpha Company provided the following balance sheet for Year 2: **Assets** - Cash: $6,150 - Accounts receivable: $17,000 - Inventory: $19,500 - Prepaid expenses: $22,300 - Plant and equipment, net of depreciation: $40,000 **Total assets:** $104,950 **Liabilities and stockholders' equity** - Accounts payable: $6,000 - Salaries payable: $13,000 - Bonds payable (due in ten years): $10,000 - Common stock, no par: $45,000 - Retained earnings: $30,950 **Total liabilities and stockholders' equity:** $104,950 **Question:** What is the company's plant assets to long-term liabilities ratio?
Transcribed Image Text:Alpha Company provided the following balance sheet for Year 2: **Assets** - Cash: $6,150 - Accounts receivable: $17,000 - Inventory: $19,500 - Prepaid expenses: $22,300 - Plant and equipment, net of depreciation: $40,000 **Total assets:** $104,950 **Liabilities and stockholders' equity** - Accounts payable: $6,000 - Salaries payable: $13,000 - Bonds payable (due in ten years): $10,000 - Common stock, no par: $45,000 - Retained earnings: $30,950 **Total liabilities and stockholders' equity:** $104,950 **Question:** What is the company's plant assets to long-term liabilities ratio?
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