Jason has determined that his net worth is $85,000. He currently has a mortgage with a remaining balance of $225,000. He also has student loans totaling $42,000 and credit card debt of $8,000. What is Jason's debt-to-equity ratio?
Jason has determined that his net worth is $85,000. He currently has a mortgage with a remaining balance of $225,000. He also has student loans totaling $42,000 and credit card debt of $8,000. What is Jason's debt-to-equity ratio?
Chapter6: Business Expenses
Section: Chapter Questions
Problem 69P
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I need correct solution of this general accounting question
Transcribed Image Text:Jason has determined that his net worth is $85,000. He
currently has a mortgage with a remaining balance of
$225,000. He also has student loans totaling $42,000 and
credit card debt of $8,000. What is Jason's debt-to-equity
ratio?
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