Answered: Total assets $ 55,250 Total liabilities…

Business

Accounting

Total assets $ 55,250 Total liabilities 22,750 Total equity 32,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Assume bonds payable are amortized using the straight-line amortization method unless stated otherwise.

Computing the debt to equity ratio

Jackson Corporation has the following amounts as of December 31, 2018.

Compute the debt to equity ratio at December 31, 2018.

Total assets
$ 55,250
Total liabilities
22,750
Total equity
32,500

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