CAn anyone help me with these homework questions? I have put the answers to the multiple choice questions below, so please think of them as a, b, c, d, e, format. Thank you in advance. Obligations due to be paid within one year or the company's operating cycle, whichever is longer, are: Current Assets. Current liabilities. Long-term liabilities. Operating cycle receivables. Bills. Advance ticket sales totaling $6,000,000 cash would be recognized as follows: Debit Sales, credit Unearned Revenue. Debit Unearned Revenue, credit Sales. Debit Cash, credit Unearned Revenue. Debit Unearned Revenue, credit Cash. Debit Cash, credit Revenue Payable. Contingent liabilities must be recorded if: The future event is probable and the amount owed can be reasonably estimated. The future event is remote. The future event is reasonably possible. The amount owed cannot be reasonably estimated. All of the above. In the accounting records of a defendant, lawsuits: Are estimated liabilities. Should always be recorded. Should always be disclosed. Should be recorded if payment for damages is probably and the amount can be reasonably estimated. Should never be recorded. If the times interest ratio: Increases, then risk increases. Increases, then risk decreases. Is over 1.5, then the company is in default. Is under 1.5, then the company is in default. Is greater than 1.5, the company is likely carrying too much debt. A company's fixed interest expense is $6,000, its income before interest expense is $18,000, and its net income is $8,400. The company's times interest earned ratio equals: 0.33. 0.71. 1.40. 3.00. 12,000. A company signed a $30,000 (face value) noninterest-bearing 60-day note payable at the bank. The company should prepare a journal entry that includes a: Credit to Notes Payable for $30,600. Credit to Notes Payable for $29,400. Debit to Cash for $30,600. Debit to Cash for $30,000. Debit to Cash for $29,400. The employer should record payroll deductions as: Employee receivables. Payroll taxes. Current liabilities. Wages payable. Employee payables. Employer payroll taxes: Are an added expense beyond the wages and salaries earned by employees. Represent the federal taxes withheld from employees. Represent the social security taxes withheld from employees. Are paid by the employee. All of the above. A company sells computers at a selling price of $1,800 each. Each computer has a 2-year warranty that covers replacement of defective parts. It is estimated that 2% of all computers sold will be returned under the warranty at an average cost of $150 each. During November, the company sold 30,000 computers, and 400 computers were serviced under the warranty during November at a total cost of $55,000. The balance in the Estimated Warranty Liability account at November 1 was $29,000. What is the company's warranty expense for the month of November? $26,000. $45,000. $55,000. $60,000. $90,000.