Debt Ratio
Use the information in Practice 3 3 to compute the debt ratio. Assume that the list includes all liability and equity items.
Practice 3 3
Current Liabilities
Using the following information, compute total current liabilities:
|
Accrued Income Taxes Payable |
$ 9,000 |
|
Notes Payable (due in 14 months) |
1,100 |
|
Paid In Capital |
1,750 |
|
Treasury Stock |
400 |
|
Current Portion of Long Term Debt |
10,000 |
|
Unearned Revenue |
250 |
|
Accounts Payable |
700 |
|
Retained Earnings |
1,000 |
|
Additional Paid In Capital |
4,000 |