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Author Question: Maxine's Equipment Company had 400,000 in total assets, 275,000 in total liabilities, and 125,000 in ... (Read 117 times)

ARLKQ

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on: Jul 5, 2018
Maxine's Equipment Company had 400,000 in total assets, 275,000 in total liabilities, and 125,000 in shareholders' equity. Interest expense for the period was 15,050. Income from operations was 80,000. Calculate the debt-to-equity ratio.
 
  Round your answer to the nearest percentage.
  What will be an ideal response?

Question 2

After a bank reconciliation is completed, journal entries are prepared for items in the balance per company'srecords as well as items in the balance per bank statement.
 a. True
  b. False
 
   Indicate whether the statement is true or false


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firehawk60

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Reply #1 on: Jul 5, 2018
Answer to Question 1

275,000 / 125,000 = 220

Answer to Question 2

False


ARLKQ

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  • Posts: 571
Reply 2 on: Jul 5, 2018
Excellent

robbielu01

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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