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Out with questions 4-9 with detailed answer?

c. Prepaid Insurance (+A) Insurance Expense (-E) 9,000 9,000 d.Prepaid Insurance (+A) Insurance Expense (-) 4. On June 1, 2016, Oakcrest Company sig Pse h lp 8, Oakcrest Company signed a three-year $110,000 note payable with 9 on June I of each year beginning in 2017. What amount of interest est. Interest is due a. 5,250he icstatement for the year ended December 31, 2016? 775 b. $9,900 S. Failure to make an adjusting entry to recognize accried salaries payable would cause which of the An understatement of expenses, liabilities, and stockholders' equity. understatement of expenses and liabilities and an overstatement of stockholders' equity An overstatement of assets and stockholders' equity An overstatement of assets and liabilities. d. 6. An adjusted trial balance a. Shows the ending account balances in a "debit" and "credit" format before posting the adjusting journal entries. b. Is prepared after closing entries have been posted. c. Shonws the ending ascount hlances resulting from the adjusting journal entries in a "debit" and "credit" format. d. Is a tool used by financial analysts to review the performance of publicly traded companies. 7. JJ Company owns a building. Which of the following statements regarding depreciation as used by accountants is false? a. As depreciation is recorded, stockholders' equity is reduced. b. Depreciation is an estimated expense to be recorded over the building's estimated useful life. c. As depreciation is recorded, the net book value of the asset is reduced. d. As the value of the building decreases over time, it "depreciates." s. At the beginning of the current year, Donna Company had $1,000 of supplies on hand. During the cur- rent year, the company purchased supplies amounting to $6,400 (paid for in cash and debited to Sup- plies). At the end of the current year, a count of supplies reflected $2,000. The adjusting entry Donna Company would record at the end of the current year to adjust the Supplies account would include a a. Debit to Supplies for $2,000. b. Credit to Supplies Expense for $5,400. c. Credit to Supplies for $5,400. d. Debit to Supplies Expense for $4,400. According to GAAP, what ratio must be reported on the financial statements or in the notes to thie statements? a. Earnings per share ratio. b. Return on equity ratio. c. Net profit margin ratio. Current ratio. dN