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Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand $ 10,000 Total Current Assets 150,000 Total Fixed Assets 250,000 $400,000 S 20,000 Total Assets Accounts Payable Overdraft Loan Payable 1-Year Bank Loan Payable Current Portion of Long-Term Bank Loans 5,000 17,000 42,000 Total Current Liabilities Long-Term Bank Loans Outstanding Total Liabilities 138,000 180,000 Year 11 Year 12 Shareholder Equity: Balance Change Common Stock 20,000 120,000 60,000 190,000 20,000 120,000 Additional Capital Retained Earnings Total Shareholder Equity Total Liabilities and Shareholder Equity 20,000 +20,000 80,000 220,000 $400,000 Based on the above figures and the definition of the debt-assets ratio presented in the He section for p. 5 of the Footwear Industry Report, the company's debt-assets ratio (rounded to decimal places) is

Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand $ 10,000 Total Current Assets 150,000 Total Fixed Assets 250,000 $400,000 S 20,000 Total Assets Accounts Payable Overdraft Loan Payable 1-Year Bank Loan Payable Current Portion of Long-Term Bank Loans 5,000 17,000 42,000 Total Current Liabilities Long-Term Bank Loans Outstanding Total Liabilities 138,000 180,000 Year 11 Year 12 Shareholder Equity: Balance Change Common Stock 20,000 120,000 60,000 190,000 20,000 120,000 Additional Capital Retained Earnings Total Shareholder Equity Total Liabilities and Shareholder Equity 20,000 +20,000 80,000 220,000 $400,000 Based on the above figures and the definition of the debt-assets ratio presented in the He section for p. 5 of the Footwear Industry Report, the company's debt-assets ratio (rounded to decimal places) is

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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Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand $ 10,000 150,000 250,000 $400,000 $ 20,000 Total Current Assets Total Fixed Assets Total Assets Accounts Payable Overdraft Loan Payable 1-Year Bank Loan Payable Current Portion of Long-Term Bank Loans Total Current Liabilities 5,000 17,000 42,000 138,000 180,000 Long-Term Bank Loans Outstanding Total Liabilities Year 11 Year 12 Shareholder Equity: Balance Change Common Stock Additional Capital Retained Earnings Total Shareholder Equity Total Liabilities and Shareholder Equity 20,000 120,000 60,000 190,000 20,000 120,000 80,000 220,000 $400,000 20,000 +20,000 Based on the above figures and the definition of the debt-assets ratio presented in the Help section for p. 5 of the Footwear Industry Report, the company's debt-assets ratio (rounded to 2 decimal places) is Copyright © by Glo-Bus Software, Inc. Copying, distributing, or 3rd party website posting isexpressly prahibited and constitutes copyright violation. 0.40. 0.45. 0.42. 0.44. O 0.47.
Transcribed Image Text:Given the following Year 12 balance sheet data for a footwear company: Balance Sheet Data Cash on Hand $ 10,000 150,000 250,000 $400,000 $ 20,000 Total Current Assets Total Fixed Assets Total Assets Accounts Payable Overdraft Loan Payable 1-Year Bank Loan Payable Current Portion of Long-Term Bank Loans Total Current Liabilities 5,000 17,000 42,000 138,000 180,000 Long-Term Bank Loans Outstanding Total Liabilities Year 11 Year 12 Shareholder Equity: Balance Change Common Stock Additional Capital Retained Earnings Total Shareholder Equity Total Liabilities and Shareholder Equity 20,000 120,000 60,000 190,000 20,000 120,000 80,000 220,000 $400,000 20,000 +20,000 Based on the above figures and the definition of the debt-assets ratio presented in the Help section for p. 5 of the Footwear Industry Report, the company's debt-assets ratio (rounded to 2 decimal places) is Copyright © by Glo-Bus Software, Inc. Copying, distributing, or 3rd party website posting isexpressly prahibited and constitutes copyright violation. 0.40. 0.45. 0.42. 0.44. O 0.47.
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