Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assets 2017 2016 cash 60,000 20,000 ...

Assets 2017 2016 Cash 60,000 20,000 ...

60.1K

Verified Solution

Question

Accounting

Assets 2017 2016
Cash 60,000 20,000
Accounts receivable (net) 50,000 30,000
Inventory 30,000 20,000
Property, plant and equipment (net) 220,000 170,000
Total assets 360,000 240,000
Liabilities
Current liabilities 60,000 40,000
Long-term liabilities 100,000 70,000
Owners Equity
Common Stock 120,000 100,000
Retained Earnings 80,000 30,000
Total liabilities and owners equity 360,000 240,000
Net sales 500,000
Cost of goods sold 280,000
Gross profit 220,000
Operating expenses 160,000
Net income 60,000

What is the debt to total assets in 2017?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Economics
1.2K views

The following equations describe a firm’s demand, marginal revenue, total cost, & marginal cost: Demand: P =...

Advance Math
1.2K views

prove that the tower of Hanoi puzzle With n rings cannot be solved in fewer than...

Biology
1.2K views

How does the protein p27 regulate cyclin/Cdk complexes?It binds to cyclin/Cdk complexes and inhibits them.It...

Physics
1.2K views

58 Two optical media of refractive indices and contain x and y number of waves...

Statistics
1.2K views

One year the mean age of an inmate on death row was 38 3 years...

Calculus
1.2K views

Rewrite using only positive rational exponents 5 45 2 54 6a b

Calculus
1.2K views

onsider an object moving along a line with the following velocity and initial position v...

Accounting
1.2K views

which of the following items increases the basis of property received in a partly nontaxable...

Accounting
1.2K views

(4) Both conditioned weight and dry net weight can be used to measure real quantity...

Accounting
1.2K views

please fix the ones in red Your answer is...

Accounting
1.2K views

Which of the following would not represent an accounting error? a. Mistakes in the application...

Accounting
1.2K views

Brief Exercise 15-8 Novak Inc. has outstanding 13,500 shares of $10 par value common stock....