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How much of torchglow assets were financed with debt

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Q1. Torchglow, Co. had total current assets of $83,000 and total long-term assets of $615,000. Torchglow had no other assets. Torchglow has had total current liabilities of $43,000 and total long-term liabilities of $361,000. How much of Torchglow's assets were financed with debt?

a. 42.1%

b. 51.7%

c. 58.7%

d. 57.9%

Q2. Nutrition Inc. paid interest on a mortgage. How would this be shown on a statement of cash flows?

a. decrease in cash from a financing activity

b. decrease in cash from an operating activity

c. decrease in cash from an investing activity

d. increase in cash from an operating activity

e. increase in cash from a financing activity

f. increase in cash from an investing activity

Reference no: EM133019989

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