The assets of Dallas & Associates consist entirely of current assets and net pla

Question

The assets of Dallas & Associates consist entirely of current assets and net plant and equipment. The firm has total assets of $2.6 million and net plant and equipment equals $2.3 million. It has notes payable of $140,000, long-term debt of $748,000, and total common equity of $1.45 million. The firm does have accounts payable and accruals on its balance sheet. The firm only finances with debt and common equity, so it has no preferred stock on its balance sheet.

Write out your answers completely. For example, 25 million should be entered as 25,000,000.

What is the company's total debt?

$ _________________

Explanation / Answer

the company's total debt

= long-term debt+notes payable

=748000+140000

=888000

the above is answer

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