The total debt to total assets of Logan Company was 0.71. The total of Logan's assets was $270,000. The amount of total debt is:
A)$146,700
B)$191,700
C)$119,700
D)$461,700
E)None of these

Name: The total debt to total assets of Logan Company was 0.71. The total of Logan's assets was $270,000. The amount of total debt is: A)$146,700 B)$191,700 C)$119,700 D)$461,700 E)None of these
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Quizplus · Accepted Answer

Total Debt/Total Assets=0.71
Total Debt=0.71*Total Assets
Total Debt=0.71*270,000=$191,700

The Total Debt to Total Assets of Logan Company Was