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trong Company has the following data from its year-end financial statements: Total assets $300,000; total...

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Accounting

trong Company has the following data from its year-end financial statements: Total assets $300,000; total liabilities $50,000; total equity $250,000; long-term debt $20,000; operating income $30,000; interest expense $10,000. What is the debt to total assets ratio for Strong Company for this year?

a. 16.7% b. 20% c. 8% d. 3 times

Assume that Big Co. issued $500,000, 6.5% bonds at face value on January 1. The interest is payable annually on January 1. How much interest will be accrued at year-end on December 31?

a. $3,250 b. $16,250 c. $2,708 d. $32,500

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