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Now suppose that the firm plans instead to increase long-term debt only to $1,100 and does not wish to issue any new shares of stock. What is now the balancing item?

Now suppose that the firm plans instead to increase long-term debt only to $1,100 and does not wish to issue any new shares of stock. What is now the balancing item?

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.4.8P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...
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d. Now suppose that the firm plans instead to increase long-term debt only to $1,100 and does not wish to issue any new shares of stock. What is now the balancing item?
Transcribed Image Text:d. Now suppose that the firm plans instead to increase long-term debt only to $1,100 and does not wish to issue any new shares of stock. What is now the balancing item?
12. Using Percentage of Sales. Eagle Sports Supply has the following financial statements. Assume that Eagle's assets are proportional to its sales. (LO18-2) INCOME STATEMENT, 2019 Sales $950 Costs 250 Interest 50 Taxes 150 Net income $500 BALANCE SHEET, YEAR-END 2018 2019 2018 2019 Assets $2,700 $3,000 Debt $ 900 $1,000 Equity 1,800 2,000 $3,000 Total $2,700 $3,000 Total $2,700
Transcribed Image Text:12. Using Percentage of Sales. Eagle Sports Supply has the following financial statements. Assume that Eagle's assets are proportional to its sales. (LO18-2) INCOME STATEMENT, 2019 Sales $950 Costs 250 Interest 50 Taxes 150 Net income $500 BALANCE SHEET, YEAR-END 2018 2019 2018 2019 Assets $2,700 $3,000 Debt $ 900 $1,000 Equity 1,800 2,000 $3,000 Total $2,700 $3,000 Total $2,700
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