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Select the debt ratio formula on the first line and then calculate the ratio. (Round the percentage to the nearest whole percent.)

Select the debt ratio formula on the first line and then calculate the ratio. (Round the percentage to the nearest whole percent.)

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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Notes Payable 60,000 Common Stock 120,000 Dividends 50,000 Service Revenue 26.065 Salaries Expense 23.100 Utilities Expense 600 500 Advertising Expense 233,900 S 233,900 Total
Transcribed Image Text:Notes Payable 60,000 Common Stock 120,000 Dividends 50,000 Service Revenue 26.065 Salaries Expense 23.100 Utilities Expense 600 500 Advertising Expense 233,900 S 233,900 Total
John Jones, MD., reported the following trial balance as of September 30, 2018: (Click the icon to view the trial balance.) John Jones, M.D. Calculate the debt ratio for John Jones, M.D. Trial Balance Select the debt ratio formula on the first line and then calculate the ratio. (Round the percentage to the nearest whole percent.) September 30, 2018 Balance Debt ratio Account Title Debit Credit Cash 36,000 Accounts Receivable 7.400 Office Supplies 3,300 Land 25,000 Building 65,000 Office Equipment 23.000 1,800 Accounts Payable 900 Utilities Payable 25.135 Unearmed Revenue
Transcribed Image Text:John Jones, MD., reported the following trial balance as of September 30, 2018: (Click the icon to view the trial balance.) John Jones, M.D. Calculate the debt ratio for John Jones, M.D. Trial Balance Select the debt ratio formula on the first line and then calculate the ratio. (Round the percentage to the nearest whole percent.) September 30, 2018 Balance Debt ratio Account Title Debit Credit Cash 36,000 Accounts Receivable 7.400 Office Supplies 3,300 Land 25,000 Building 65,000 Office Equipment 23.000 1,800 Accounts Payable 900 Utilities Payable 25.135 Unearmed Revenue
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