Chestnut,Incorporated reported the following balances on its balance sheet at December 31, Year 1: On January 1, Year 2, Chestnut purchased equipment for $58,000 on account. What is the company's debt-to-assets ratio immediately after the purchase of the equipment? (Round your answer to 2 decimal places.)
A)0.40
B)0.35
C)0.39
D)0.47

Question

Chestnut,Incorporated reported the following balances on its balance sheet at December 31, Year 1:  On January 1, Year 2, Chestnut purchased equipment for $58,000 on account. What is the company's debt-to-assets ratio immediately after the purchase of the equipment? (Round your answer to 2 decimal places.)
A)0.40 
B)0.35 
C)0.39 
D)0.47

Quizplus · Accepted Answer

The Answer of Chestnut,Incorporated reported the following balances on its balance sheet at December 31, Year 1:  On January 1, Year 2, Chestnut purchased equipment for $58,000 on account. What is the company's debt-to-assets ratio immediately after the purchase of the equipment? (Round your answer to 2 decimal places.)
A)0.40 
B)0.35 
C)0.39 
D)0.47

Chestnut,Incorporated Reported the Following Balances on Its Balance Sheet at December