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Teakap, Inc., has current assets of $1,456,312 and total assets of $4,812,369 for the year ending September 30, 2016. It also has current liabilities of $1,041,012, common equity of $1,500,000, and retained earnings of $1,468,347. What is the value of long term debt?

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abiolataiwo2015

Answer:

$803,010

Explanation:

Calculation for the value of long term debt

First step is to find the Stockholders' equity

Stockholders' equity = $1,500,000 + $1,468,347 Stockholders' equity= $2,968,347

Last step is to find the Long-term debt

Using this formula

Value of Long-term debt= Total assets – Current liabilities – Stockholders' equity

Let plug in the formula.

Value of Long-term debt= $4,812,369 – $1,041,012 – $2,968,347

Value of Long-term debt = $803,010

Therefore the Value of Long-term debt

will be $803,010

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