Quiz – Harmony Health Foods
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Find the debt to equity ratio.
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Find the debt to equity ratio.
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Given financial statement data, they ask you to determine the company’s long-term debt-to-equity ratio equity.
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Given a balance sheet and additional information they ask you to prepare a completed and corrected balance sheet.
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Given account balances from the trial balance they ask you to determine the amount that should be included in the current assets section of the balance sheet.
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Given a balance sheet, they ask you to identify and explain the deficiencies in the statement.
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What amount should be included in the current liabilities section of the company’s balance sheet? You are given accounts payable, bonds payable, salaries payable, notes payable due in 1 year and notes payable due in 5 years.
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Compute the current ratio, the acid-test ratio, the debt-to-equity ratio, the time’s interest earned ratio, and the return on shareholders’ equity ratio for the company.
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Compute the missing amounts in the balance sheet.
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Given a partial trial balance they ask you to determine the company’s working capital at year-end.
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Given a balance sheet they ask you to determine the acid-test ratio.
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