I need help finding the accurate solution to this general accounting problem with valid methods. The balance sheet for Wilson Company at the end of 2024 shows the following:Total current assets: $480,000 Total investments: $120,000 Total property, plant, andequipment: $750,000 Current portion of long-term debt: $180,000 Total long-term liabilities:$420,000 Common stock: $500,000 Retained earnings: $250,000What is the long-term debt to total assets ratio for 2024 (rounded to one decimal place)?a. 31.1% b. 44.4% c. 33.8% d. 28.8%

Step 1: Definition of Long-Term Debt to Total Assets RatioThe long-term debt to total assets ratio…

Answered: The balance sheet for Wilson Company at…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 23MCQ

See similar textbooks

Similar questions

Burkhart Corporation has the following data as of December 31, 2024: Total Current Liabilities $ 45,380 Total Stockholders' Equity Total Current Assets 35,720 Other Assets Long-term Liabilities 140,245 Property, Plant, and Equipment, Net Compute the debt to equity ratio at December 31, 2024. (Round your answer to two decimal places, X.XX.) = $? 37,400 261,005 Debt to equity ratio
Barger Corporation has the following data as of December 31, 2024: Total Stockholders' Equity Total Current Liabilities Total Current Assets $ 36,210 58,200 181,630 Other Assets Long-term Liabilities Property, Plant, and Equipment, Net Compute the debt to equity ratio at December 31, 2024. (Round your answer to two decimal places, X.XX.) = = C $? 45,600 269,640 Debt to equity ratio
Finney Corporation has the following data as of December 31, 2018: Compute the debt to equity ratio at December 31,2018. Total Current Liabilities $36,210 Total Stockholders' Equity $ ? Total Current Assets 32,670 Other Assets 33,500 Long-term Liabilities 204,970 Property, Plant, and Equipment, Net 330,610
Here is financial information for Sheridan Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings Assets Current assets Plant assets (net) Total assets December 31, 2022 Liabilities $123,000 395,300 89,279 130,592 166,959 131,470 2022 Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) $123,000 December 31, 2021 395,300 $100,000 335,000 73,000 88,000 117,000 157,000 2021 SHERIDAN INC. Condensed Balance Sheets December 31 $100,000 335,000 $518,300 $435,000 Increase or (Decrease) Amount Percentage % % %
General accounting
Given the data in the following table, the entry for Inventories on the 2023 common-sized balance sheet was %.
Quick answer of this accounting questions
Suppose the Crane Ltd's 2020 financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities NT$3,536.0 31,408.0 3,016.0 16,640.0 Compute the following values. Interest expense Income taxes Net income NT$520.0 (a) Debt to assets ratio. (Round to O decimal places, e.g. 62%.) 1,976.0 4,590.0 (b) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) % times
Selected balance sheet accounts for Tibbetts Company on September 30, 2019. are as follows: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses $ 48,000 87,000 129,000 135, 000 21,000 Total current assetS $420,000 Accounts payable Other accrued liabilities $147,000 33,000 60,000 Short-term debt Total current liabilities $240,000 Required: a. Calculate the working capital, current ratio, and acid-test ratio for Tibbetts Company as of September 30. 2019 b. Summarized here are the transactions/events that took place during the fiscal year ended September 30, 2020. Prepare Journal entries for the below transactions and Indicate the effect of each item on Tibbetts Company's working capital, current ratio, and acid-test ratio. Use + for Increase, - for decrease, and (NE) for no effect. 1. Credit sales for the year amounted to $360,000. The cost of goods sold was $234.000 2 Collected accounts recelvable, $378,000. 3. Purchased inventory on account, $252,000. 4.…
Presented below is the balance sheet of Pina Corporation for the current year, 2020. PINA CORPORATIONBALANCE SHEETDECEMBER 31, 2020 Current assets $ 486,360 Current liabilities $ 381,360 Investments 641,360 Long-term liabilities 1,001,360 Property, plant, and equipment 1,721,360 Stockholders’ equity 1,771,360 Intangible assets 305,000 $3,154,080 $3,154,080 The following information is presented. 1. The current assets section includes cash $151,360, accounts receivable $171,360 less $11,360 for allowance for doubtful accounts, inventories $181,360, and unearned rent revenue $6,360. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 2. The investments section includes the cash surrender value of a life insurance contract $41,360; investments in common stock, short-term $81,360 and long-term $271,360; and bond sinking fund $247,280. The cost and fair value of investments in common stock are the same.…
The December 31, 2018, balance sheet of Whelan, Inc, showed long-term debt of $1,385,000, $137.000 in the common stock account, and $2,620,000 in the adoitional paid-in surplus account. The Deocember 31. 2019, balance sheet showed long-term debt of $1.550.000, $147,000 in the common stock account and $2,920,000 in the additional paid-in surplus account. The 2019 income stalement showed an interest expense of $92,500 and the company paid oul $142.000 in cash dividends during 2019. The fim's net capital spending for 2019 was $930,000, and the fim reduced its net working capital investment by $122.000. What was the fem's 2019 operating cash fow, or OCF7 (A nogative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, eg. 1,234,567.) Operating cash flow
Condensed financial data of Flounder Company for 2020 and 2019 are presented below. FLOUNDER COMPANYCOMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $1,830 $1,140 Receivables 1,720 1,280 Inventory 1,610 1,900 Plant assets 1,870 1,690 Accumulated depreciation (1,210 ) (1,190 ) Long-term investments (held-to-maturity) 1,270 1,410 $7,090 $6,230 Accounts payable $1,230 $910 Accrued liabilities 200 250 Bonds payable 1,410 1,540 Common stock 1,880 1,710 Retained earnings 2,370 1,820 $7,090 $6,230 FLOUNDER COMPANYINCOME STATEMENTFOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,880 Cost of goods sold 4,680 Gross margin 2,200 Selling and administrative expenses 930 Income from…

SEE MORE QUESTIONS

Recommended textbooks for you

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS