Evergreen Systems reported total assets of $1,200,000 at the end of the fiscal year. The company's total liabilities amounted to $720,000. Based on this information, calculate Evergreen Systems' Debt to Assets Ratio. Express your answer as a percentage rounded to two decimal places.

Evergreen Systems reported total assets of $1,200,000 at the end of the fiscal year. The company's total liabilities amounted to $720,000. Based on this information, calculate Evergreen Systems' Debt to Assets Ratio. Express your answer as a percentage rounded to two decimal places.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

See similar textbooks

Related questions

Q: Accounting problem

A: Step 1: Introduction to CVP AnalysisCVP analysis, or cost-volume-profit analysis, is a management…

Q: Ramos Corporation deposits all cash receipts on the day they are received and makes all cash payment…

A: Concept of Deposit in Transit:A deposit in transit refers to cash or checks that have been received…

Q: Hello tutor solve this question and general accounting

A: Step 1: Definition of Contribution Margin RatioThe Contribution Margin Ratio represents the…

Q: Please help me solve this general accounting problem with the correct financial process.

A: Step 1: Definition of Owner's ContributionOwner's Contribution (Capital Introduced) is the amount of…

Q: I need help solving this financial accounting question with the proper methodology.

A: To find the owners' equity at the beginning of the year, we use the basic accounting equation:Assets…

Q: What predetermined overhead rates would be used in Dept. X and Dept. Y, respectively?

A: Concept of Predetermined Overhead RateThe predetermined overhead rate is a rate used to apply…

Q: What is the fixed cost per month?

A: Definition of Fixed Cost:Fixed costs are business expenses that remain constant regardless of the…

Q: Which produce a single product has provided the following data for its most recent month of…

A: Provided Data:Units produced = 9,200Variable costs per unit:Direct materials = $158Direct labor =…

Q: If a company has annual sales of $840,000 with a gross profit margin of 35%, what is the cost of…

A: Explanation of Gross Profit Margin:Gross profit margin is a financial metric that shows the…

Q: Can you help me solve this financial accounting problem using the correct accounting process?

A: Concept of Joint ProductsJoint products are two or more products that are simultaneously produced…

Q: Please show me how to solve this financial accounting problem using valid calculation techniques.

A: To calculate Evergreen Co.'s gross profit margin, follow these steps:Step 1: Calculate Net SalesNet…

Q: Please provide the correct answer to this financial accounting problem using valid calculations.

A: Step 1: Define Stockholders' EquityStockholders' Equity, also known as Shareholders' Equity,…

Q: Provide Answer

A: Definition: Manufacturing Cycle Efficiency (MCE) = (Value-Added Time / Total Manufacturing Cycle…

Q: I need help with this financial accounting question using standard accounting techniques.

A: Step 1: Define Equity MultiplierEquity Multiplier is a financial leverage ratio that measures how…

Q: A traveling production of fame Broadway performs each year.

A: 1. Revenue for Each Show:Tickets Sold per Show: 1,500 ticketsPrice per Ticket: $60Revenue per show…

Q: What was coral's cost of goods sold for the year?

A: Explanation of Beginning Inventory:Beginning inventory refers to the value of the inventory that a…

Q: C2 X✓ fx Σ N A B 1 Product ☑ Order Quantity C D E F G H K L Product ID ✓ Unit Price Gross Sales…

A: here's a breakdown of the key calculations that were done to build the table:1. Unit Price…

Q: Please provide the answer to this general accounting question using the right approach.

A: To calculate the Earnings Per Share (EPS), use this formula:EPS = (Net Income - Preferred Dividends)…

Q: Calculate The total fixed cost

A: We can use the contribution margin income statement formula:Operating Income = Contribution Margin -…

Q: Can you solve this general accounting problem with appropriate steps and explanations?

A: Below the solve this accounting problem. Now compute the annual rate of return. Step 1Determine the…

Q: I need help with this general accounting question using the proper accounting approach.

A: To find the company's net income, we use the Earnings Per Share (EPS) formula:EPS = Net Income ÷…

Q: A company’s assets are $500,000, liabilities are $300,000. What is the owner’s equity? a) $200,000b)…

A: The formula for owner's equity is:Owner's Equity = Assets - LiabilitiesGiven:Assets =…

Q: Aduba manufacturing had 22,000 shares of common stock outstanding on January 1 and issued an…

A: Step 1: Definitions Concept of Earnings Per Share (EPS):Earnings Per Share (EPS) is a financial…

Q: In the month of May, raw material purchases and ending inventory, respectively, will be how many…

A: Concept of Raw Material Requirement:Raw material requirement refers to the amount of material needed…

Q: Please help me solve this general accounting question using the right accounting principles.

A: To calculate the interest expense that Levington Corporation should report for the year ending…

Q: For Caesar Manufacturing, the predetermined overhead rate is 135% of direct labor cost. During the…

A: Definition of Predetermined Overhead Rate:The predetermined overhead rate is a rate established…

Q: Please explain the solution to this general accounting problem with accurate principles.

A: Step 1: Define Differential CostDifferential cost (also called incremental cost) is the additional…

Q: Gamma Industries, which applies manufacturing overhead on the basis of machine hours, has provided…

A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is used to apply…

Q: How many machine hours does the company expect in department 2?

A: Concept of Plantwide Overhead Rate:A plantwide overhead rate is a single rate used to allocate…

Q: Cozy Retreats currently sells 420 Standard hot tubs, 580 Luxury hot tubs, and 190 Premium model hot…

A: Step 1: Calculate the Lost Sales (Erosion) UnitsStandard: 420 → 290 ⇒ Lost 130 unitsLuxury: 580 →…

Q: Don't Use AI

A: To calculate the absorption costing unit product cost, we include all manufacturing costs, both…

Q: Can you help me solve this general accounting problem with the correct methodology?

A: Step 1: Definition of Cash-Basis Net IncomeCash-basis net income is the difference between cash…

Q: Please provide problem with accounting question

A: Step 1: Definition of MarginMargin is a financial metric that measures the percentage of sales that…

Q: Lakeme, Inc. reported net income of $50,000 for the year ended December 31, 2022. Included in net…

A: We exclusively examine investment activities, which normally consist of the following, to ascertain…

Q: Can you solve this general accounting question with accurate accounting calculations?

A: Step 1: Definition of Contribution Margin RatioContribution Margin Ratio (CMR) indicates the portion…

Q: The amount of over-or underapplied overhead for the month was?

A: Definition of Overhead Application Rate:The overhead application rate is a predetermined rate used…

Q: Please provide the answer to this general accounting question using the right approach.

A: Step 1: Define Variable Costing InventoryVariable costing inventory refers to the method of valuing…

Q: Swift Corporation's has provided the following information after year-end adjustments:

A: Step 1: Definition of Bad Debt ExpenseBad Debt Expense represents the estimated amount of accounts…

Q: Can you explain the correct methodology to solve this general accounting problem?

A: Step 1: DefinitionsConcept of Gross Profit Margin:Gross profit margin is a financial metric that…

Q: Aster Enterprises reports the following at the end and beginning of the year: At the end of the…

A: Provided Data:Ending Assets = $210,000Ending Liabilities = $165,000Beginning Owners' Equity =…

Q: Continental Industries reported net sales of $5.80 million and beginning total assets of $2.20…

A: Explanation of Net Sales:Net sales represent the total revenue a company earns from selling its…

Q: None

A: In conclusion, Mason & Co.'s degree of operating leverage (DOL) is determined to be 6x, which…

Q: Can you help me solve this general accounting problem using the correct accounting process?

A: Step 1: Define Profitability Index (PI)The Profitability Index (PI) is a ratio of the present value…

Q: Read The company events occured during the first half of the year and answer the following…

A: Here's a clear, properly formatted response based on your request: 1) Importance of PP&E on the…

Q: I am looking for the correct answer to this general accounting question with appropriate…

A: Step 1: Definition of Direct Labor CostDirect labor cost is the total amount paid to workers who are…

Q: General accounting

A: To find the total net cash flow for the year 2023, we add up the cash flows from operating,…

Q: Monarch Industries reported net sales of $93,000. The beginning accounts receivable was $16,400, and…

A: Explanation of Net Sales:Net sales refer to the total revenue a company earns from its sales of…

Q: Coastal Electronics manufactures portable speakers. Estimated sales (in units) are 32,000 in July,…

A: Step 1: Definition of Sales RevenueSales Revenue is the total income a company generates from…

Q: Calculate the labor variance.

A: Definition of Labor Rate Variance:Labor Rate Variance (LRV) measures the difference between the…

Q: What is the formula for calculating the weighted average cost of capital (WACC)?A) WACC = (Cost of…

A: The formula for calculating the weighted average cost of capital (WACC) is: WACC = (Cost of Debt ×…

Question

I am trying to find the accurate solution to this general accounting problem with appropriate explanations.

Evergreen Systems reported total assets of $1,200,000 at the end of the fiscal
year. The company's total liabilities amounted to $720,000. Based on this
information, calculate Evergreen Systems' Debt to Assets Ratio. Express
your answer as a percentage rounded to two decimal places.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Charger Company's most recent balance sheet reports total assets of $29,133,000, total liabilities of $16,683,000 and total equity of $12,450,000. The debt to equity ratio for the period is (rounded to two decimals):
Oak Corporation's financial statements for the current year showed the following: Note: Round your answers to 2 decimal places. Income Statement Revenues Expenses Interest expense Pretax income Income tax (21%) Net income $840,000 (628,000) (14,600) Times interest earned ratio 197,400 (41,454) $155,946 Compute Oak's times interest earned ratio. 13.52
The income statement of Pratt Inc. reports net sales of $3,749.9 million for the current year. The balance sheet reports accounts receivable, net of $535.3 million at December 31 of the current year and $572.2 million at December 31 of the previous year. The days sales outstanding in the current year are:
The following data were taken from the records of Millet Corporation for the year ended December 31: Sales on account, P7,200,000; Accounts receivable written off as a result of permanentimpairment, P50,000; Notes receivable to settle accounts, P800,000; Purchases on account,P7,800,000; Payments to creditors, P6,400,000; Purchase discounts, P520,000; Sales returns,P30,000; Collections received to settle accounts, P4,900,000; Notes given to settle accounts, P500,000; Purchase returns, P140,000; Payments of notes, P200,000; Discounts taken bycustomers, P80,000; Collection on notes receivable, P360,000. What is the carrying value of the accounts receivable on December 31?
Charger Company's most recent balance sheet reports total assets of $30,107,000, total liabilities of $17,457,000 and total equity of $12,650,000. What is the debt to equity ratio for the period?
What is the common size percentage for the net fixed assets?
At the beginning of the year, Norwood Pass Industries had $240,000 in total assets and a debt-to-assets ratio of 0.5 or 50%. During the year, Norwood's assets increased by $80,000, and its liabilities increased by $72,000. What is the debt-to-assets ratio at the end of the year? Multiple Choice 0.4 or 40% 0.6 or 60% 1.7 or 170% 0.9 or 90%
Selected current year-end financial statements of Genesis Corporation follow. All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $48,900; total assets, $189,400; common stock, $90,000; and retained earnings, $33,748. Compute the following: total asset turnover, return on total assets, and return on equity. Round to one decimal place.
Debt-to-Total-Assets RatioRuby Company’s balance sheet reports the following totals: Assets = $40,000; Liabilities = $25,000; Stockholders’ Equity = $15,000. Determine the company’s debt-to-total-assets ratio.
Paddy’s Pub reported the following year-end data: income before interest expense and income tax expense of $30,000; cost of goods sold of $17,000; interest expense of $1,500; total assets of $70,000; total liabilities of $20,000; and total equity of $50,000. Compute the (a) debt-to-equity ratio and (b) times interest earned. Round to one decimal.
Under Armour has the following current assets: cash, $102 million; receivables, $94 million; inventory, $182 million; and other current assets, $18 million. Under Armour has the following liabilities: accounts payable, $98 million; current portion of long-term debt, $35 million; and long-term debt, $23 million. Based on these amounts, calculate the current ratio and the acid-test ratio for Under Armour.
Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $51,900; total assets, $249,400; common stock, $81,000; and retained earnings, $36,386.) Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Operating expenses Interest expense Income before taxes Income tax expense Net income CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 448,600 297,950 Cost of goods sold Gross profit (1) Req 1 and 2 Req 3 Req 4 Req 5 (2) $ 18,000 8,400 150,650 98,700 4,200 47,750 19,236 $ 28,514 Complete this question by entering your answers in the tabs below. Compute the current ratio and acid-test ratio. Numerator: 30,400 34,150 2,750 150,300 $ 244,000 Total liabilities and equity Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales…