General Accounting The following items are components of a traditional balance sheet. How much isthe total equity of the firm?Long-term debtCommon stockAccounts payablePaid in excess$12,00015,0008,0006,000Accrued interest payable 1,500Plant and equipment60,000Retained earnings28,000Accounts receivable22,000

To determine the total equity of the firm, we need to identify and sum the components that belong to…

Answered: The following items are components of a…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 6BE

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Consider this simplified balance sheet for Geomorph Trading: Current assets Long-term assets $ 110 510 Net working capital $ 620 a. Debt-equity ratio b Long-term debt-to-capital ratio C. d. Current ratio a. What is the company's debt-equity ratio? (Round your answer to 2 decimal places.) b. What is the ratio of total long-term debt to total long-term capital? (Round your answer to 2 decimal places.) c. What is its net working capital? d. What is its current ratio? (Round your answer to 2 decimal places.) Current liabilities Long-term debt Other liabilities Equity $ 65 275 80 200 $ 620
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