Marcus has determined that his net worth is $85,000. He has a mortgage with a face value of $225,000. He also has other debts (credit cards, auto loan, and student loans) with a total face value of $45,000. What is Marcus's debt-to-equity ratio?
Marcus has determined that his net worth is $85,000. He has a mortgage with a face value of $225,000. He also has other debts (credit cards, auto loan, and student loans) with a total face value of $45,000. What is Marcus's debt-to-equity ratio?
Chapter4: Income Exclusions
Section: Chapter Questions
Problem 60P
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I am looking for help with this general accounting question using proper accounting standards.
Transcribed Image Text:Marcus has determined that his net worth is $85,000. He has a
mortgage with a face value of $225,000. He also has other debts
(credit cards, auto loan, and student loans) with a total face value of
$45,000. What is Marcus's debt-to-equity ratio?
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