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21 August, 22:02

A company has $1,329 in inventory, $4,764 in net fixed assets, $622 in accounts receivable, $270 in cash, $570 in accounts payable, and $5,359 in equity. What is the company's long-term debt?

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  1. 21 August, 23:33
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    The company's long-term debt is $1,056.

    Explanation:

    Total assets

    = inventory + net fixed assets + accounts receivable + cash

    = $1,329 + $4,764 + $622 + $270

    = $6985

    Long term Debt = Total Assets - Equity - A/c Payable

    = $6985 - $5,359 - $570

    = $1,056

    Therefore, The company's long-term debt is $1,056.
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