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Author Question: Apollo Corp reported the following balance sheet: Cash 28,000 Accounts payable 5,000 Accounts ... (Read 117 times)

Evvie72

  • Hero Member
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  • Posts: 519
on: Jul 11, 2018
Apollo Corp reported the following balance sheet:
  Cash 28,000 Accounts payable 5,000
  Accounts receivable 15,000 Notes Payable 12,000
  Inventory 45,000 Accruals 17,000
  Net Fixed Assets 122,000 Long-Terms Debt 45,000
  Common Stock 10,000
  Retained
 
  Earnings 121,000
  Total assets 210,000 Total Liab. & Equity 210,000
  Apollo Corp's debt ratio is
  A) 37.62. B) 32.17. C) 39.45. D) 42.95.

Question 2

The least effective method of protecting against overdrafts generally is to
 
  A)
 
  maintain a larger-than-normal account balance.
  B)
 
  arrange for automatic transfers from a savings account.
  C)
 
  arrange for a credit-card loan to cover the overdraft.
  D)
 
  ignore them since banks do not charge for overdrafts.


FergA

  • Sr. Member
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  • Posts: 352
Reply #1 on: Jul 11, 2018
Answer to Question 1

A

Answer to Question 2

D


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