Calculate the Debt Ratio Using the Following Trial Balance of Superior

question 175

Essay

Calculate the debt ratio using the following trial balance of Superior Instruments, Inc. as of December 31, 2019.
Superior Instruments, Inc.
Trial Balance
December 31, 2019
$\begin{array}{ll}\text { Account Title } & \text { Debit } &\text { Credit }\\\text { Cash } & \$ 88,800 \\\text { Accounts Receivable } & 5,000 \\\text { Office Supplies } & 3,400 \\\text { Land } & 70,000 \\\text { Building } & 16,500 \\\text { Equipment } & 2,000\\\text { Accounts Payable } & & \$ 15,000 \\\text { Notes Payable } & & 60,000 \\\text { Common Stock } & & 50,000 \\\text { Dividends } & 1,200 &\\\text { Service Revenue } & & 72,000 \\\text { Utilities Expense } & 4,100 & \\\text { Salaries Expense } & 4,000 & \\\text { Advertising Expense } & \underline{2,000} & \underline{\quad \quad}\\\text { Total } & \underline{\$ 197,000 }& \underline{\$ 197,000}\end{array}$

---

Definitions:

Motion

A formal proposal by a member of a court, seeking a decision on a legal matter.

Matter of Law

Issues resolved by a judge, concerning the application or interpretation of the law, as opposed to matters of fact, which are decided by a jury.

Recross-examination

The questioning of a witness by the opposing side after re-examination, intended to clarify or counter information that came up during re-examination.

Redirect Examination

A stage in a court proceeding where the party who originally called a witness has an opportunity to question the witness again after cross-examination.