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Accounts Payable $72,000 Salaries Payable $8,000 Mortgages Payable (long-term) 76,000 Bonds Payable (current portion) 21,000 Interest Payable 23,000 Premium on Bonds Payable 9,000 Bonds Payable (long-term) 58,000 Unearned Revenue (short-term) 2,700 Total Stockholders' Equity 150,000
The accounting records of
Route Make
Wireless include the following as of December 31,
2016
(Click the icon to view the accounting records.)
Requirements
| 1. | Report these liabilities on the Route Maker Wireless balance sheet, including headings and totals for current liabilities and long-term liabilities. |
| 2. | Compute Route Maker Wireless's debt to equity ratio at December 31, 20162 |
Requirement 1. Report these liabilities on the
Route Maker
Wireless balance sheet, including headings and totals for current liabilities and long-term liabilities.
| Route Maker Wireless |
| Balance Sheet (Partial) |
| December 31, 2016 |
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| | Plus: | | | | |
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| Total Liabilities | | | |
Requirement 2. Compute
Route Make
Wireless's debt to equity ratio at December 31,
2016
(Round the debt to equity ratio to two decimal places, X.XX.)
| | / | | = | Debt to equity ratio |
| | / | | = | |
Answer & Explanation
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