Multiple Choice
Given the following data:Dec. 31,Year 2 Dec. 31,Year 1Total liabilities $128,250 $120,000Total owner's equity 95,000 80,000Compute the ratio of liabilities to owner's equity for each year. Round to two decimal places.
A) 1.50 and 1.07, respectively
B) 1.35 and 1.50, respectively
C) 1.07 and 1.19, respectively
D) 1.19 and 1.35, respectively
Correct Answer:
Verified
Correct Answer:
Verified
Q153: What are the three sections of the
Q154: A summary of cash flows for Linda's
Q155: Given the following data:Dec. 31,Year 2 Dec.
Q156: The year-end balance of the owner's capital
Q157: Match each of the following characteristics with
Q159: The financial statements of a proprietorship should
Q160: Using the following accounting equation elements
Q161: Match the following business types with each
Q162: The assets and liabilities of Thompson
Q163: Give the major disadvantage of disregarding the