The accouming records of Placeless Wireless include the following as of December
ID: 2532254 • Letter: T
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The accouming records of Placeless Wireless include the following as of December 31.2018 (Click the icon to view the accounting records) Requirements 1. Report these liabiites on the Placeless Wireless balance sheet·inducing head ngs and ?0tals for current liabilties and long-term liablities 2. Compute Placeless Wireless's debt to equity ratio at December 31,2018 Requirement 1.Report these labilities on the Placeless Wireless balance sheet, including headings and totals for current labilities and longterm liabilities Placeless Wireless Balance Sheet (Partial) December 31,2018 Pua Total Liabilities 6 Data Table ocounts Payable Mortgages Payable (ong-tem Interest Payable Bonds Payable (long-term) Total Stockholders'Equity 70,000 Salaries Payable 77000 Bonds Payable (current portion) 16,000 Premium on Bonds Payable 60,000 Uneamed Revenue (short-tem 150,000 10500 17,000 ,000 3,200 PrintDoneExplanation / Answer
Answer = 1) PLACELESS WIRELESS BALANCE SHEET (PARTIAL) DECEMBER 31, 2018 AMOUNT AMOUNT AMOUNT CURRENT LIABILITIES Account Payable $ 70,000 Interest Payable $ 16,000 Salaries Payable $ 10,500 Bonds Payable $ 17,000 Unearned Revenue $ 3,200 total of long term Liabilities $ 1,16,700 LONG TERM LIABILITIES Mortgage Payable $ 77,000 Bonds Payable $ 60,000 Add: Premium on Bonds Payable $ 9,000 $ 69,000 total of long term Liabilities $ 1,46,000 Total Liabilities $ 2,62,700 Answer =2) Debt to Equity Ratio = Total Liabilties / Stockholder's Equity Debt to Equity Ratio = Total Liabilities = $ 2,62,700 Divide By "/" By Stockholder's Equity $ 1,50,000 Debt to Equity Ratio = 1.75 Answer = Debt to Equity Ratio = 1.75
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