   Chapter 12, Problem 23MCQ ### Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

#### Solutions

Chapter
Section ### Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
4 views

# The balance sheet for Sylvester Inc. at the end of the first year of operations indicates the following: What is the long-term debt to total assets ratio for 2017 (rounded to one decimal place)?a. 22.1%b. 37.9%c. 40.0%d. 41.7%

To determine

Long term debt to asset ratio.

Explanation

Formula to calculate long term debt to asset ratio = long term debt/ total assets

Long term debt = Current portion of long term debt + total long term liabilities

= \$250,000 + \$350,000

= \$600,000

To...

### Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

#### The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

#### What are problems associated with each one?

Foundations of Business (MindTap Course List)

#### What is a simple interest rate?

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)

#### Differentiate between a network attached storage (NAS) and a storage area network (SAN).

Enhanced Discovering Computers 2017 (Shelly Cashman Series) (MindTap Course List) 