26.) MATH
You own a store that sells video games. You owe $25,000 to video game vendors; you have a ten-year bank
loan of $50,000; your bank account balance is $13,000; you own inventory worth $57,000; you have $2,000 in
accounts receivable; and fixed assets are $22,000. What are your total assets, liabilities, and owner's equity?
What is your debt-to-equity ratio? (LO 9.1-2, LO 9.2-3)

Answers

Answer 1
Store that sells video games you owe 25,000 was a double equal ratio 9.235678 910 1. Why must Lincoln Douglas treat each resolution independently to determine
burdens/values?
math accounts receivable and fix assets and 20,000 chicken pig orange cow
Answer 2

Total assets is $94,000. total liabilities is $75,000, owner's equity is $19,000 and Debt-to-Equity ratio is 3.947.

What are Assets and Liabilities?

Assets are the money or items which are benefitted by the company or will benefit in the future.

Liabilities are the amount or items which are obligation for the company.

From the given,

Total assets = bank account balance + inventory + accounts receivable + fixed assets

= $13,000 + $57,000 + $2,000 + $22,000

= $94,000

Total liabilities = Amount owed to video game vendors + bank loan

                        = $25,000 + $50,000

                        = $75,000

Owner's equity = Total assets - Total liabilities

                         = $94,000 - $75,000

                         = $19,000

Debt-to-Equity ratio = Total liabilities / owner's equity

                                 = 75,000 / 19,000

                                 = 3.947

Hence the required amount are found.

Learn more about Assets and Liabilities here :

https://brainly.com/question/23545641

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Related Questions

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Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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Answer:

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Answer:

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Answers

Answer:

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Step-by-step explanation:

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The breakfast special served at Pancake Heaven includes 2 eggs and 1 waffle. Last week, 333 people were served the breakfast special. Based on that amount, how many eggs are needed for the number of breakfast specials that will be served during a 1-year period (52 weeks)?

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Step-by-step explanation:

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Step-by-step explanation:

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Answers

Answer:

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Answers

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Answer:

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Answers

Answer:

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Step-by-step explanation:

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