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don't need explanation just need answer Question 1 (1 point) How should the petty cash fund be established? O a) Debit Cash Ob) Debit Petty
don't need explanation just need answer
Question 1 (1 point) How should the petty cash fund be established? O a) Debit Cash Ob) Debit Petty Cash Oc) Credit Petty Cash d) Expense accounts are debited Question 2 (1 point) 2016 2015 8,952.40 4,768.12 Bank account Here is the bank balance from a comparative analysis. What is the percent change from 2015 to 2016? a) A decrease of 46.7%. b) A decrease of 87.8%. c) An increase of 87.8%. Od) An increase of 46.7%. Question 3 (1 point) An outstanding cheque is adjusted on the company's book balance. a) True b) False Question 4 (1 point) A company has a debt ratio of 75%. A creditor would consider this an acceptable debt ratio. a) True b) False Question 5 (1 point) Amett Enterprises Condensed Balance Sheet As at December 31, 2015 2015 Assets Current Assets Capital Equipment Total Assets 28.900 240.900 269.800 Liabilities Current Liabilities Long-Term Liabilities Total Liabilities 13.600 74 800 88 400 Owner's Equity J. Amett. Capital 181.400 Total Liabilities and Owner's Equity 269.800 Here is some additional information: The net income for the year ended December 31, 2015 was $21.970. i The beginning owner's equity was $164,525. Using Arnett Enterprises condensed balance sheet above, the return on equity is: a) 12.7%. Ob) 13.3%. Oc) 7.4:1. d) $172,962.50Step by Step Solution
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