How much long-term debt did the firm have? fINANCIAL ACCOUNT Sybarix Group prepared its financial statements for 2015 based on theinformation below. The company had cash of $1,206, inventory of$14,290, and accounts receivables of $6,589. The company's net fixedassets were $42,412, and other assets were $2,822. It had accountspayable of $11,580, notes payable of $2,886, common stock of $21,800,and retained earnings of $14,368. How much long-term debt did the firmhave?a. $12,314b. $16,685c. $18,334d. $22,342

To determine the amount of long-term debt, we use the accounting equation:…

Answered: Sybarix Group prepared its financial…

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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How much long-term debt did the firm have?
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