Hi, I have 9 multiple choice accounting questions I need help answering, thanks

QUESTION 1 An example of a current liability that must be accrued at the end of a fiscal period is: Select one: Accounts payable Interest receivable Notes payable Wages payable Check QUESTION 2 Not complete Marked out of 1.00 Flag question Question text On October 1, Smith & Sons borrowed $60,000 from Bank of America on a 6 month, 7 percent note. If the company's fiscal year ends on December 31 and no adjusting entries have been made since the initial journal entry on October 1, Smith & Sons should make a yearend adjusting entry involving a debit to: Select one: Interest expense for $2,100 Interest payable for $2,100 Interest expense for $1,050 Interest payable for $1,050 Interest expense for $700 Interest payable for $700 Check QUESTION 3 Not complete Marked out of 1.00 Flag question Question text A customer has sued Smith & Sons for an injury sustained while shopping at a company outlet. The company's management determined that it is possible that the customer will win the lawsuit and estimated that the possible lawsuit award might be as high as $1,000,000. Smith & Sons should: Select one: Record a liability in the company's financial statements. Record a liability and a loss in the company's financial statements. Do not record a liability in the financial statements but disclose the information in a note to the company's financial statements. Neither record a liability in the company's financial statements nor disclose the information in a note to its financial statements. Check QUESTION 4 Not complete Marked out of 1.00 Flag question Question text Cave Creek Harley Davidson sells motorcycles. During the first year of operations, the company sold 3,000 motorcycles, each with a 3 year warranty. The company estimates that 10 percent of the motorcycles sold will need warranty repair work at an average cost of $600 per motorcycle. In the second year of operations, Cave Creek HD performed warranty work on the motorcycles sold in the first year at a total cost of $30,000. When Cave Creek HD performs the repairs in the second year, they will debit the Warranty Expense account for: Select one: $30,000 $50,000 $0 $20,000 Check QUESTION 5 Not complete Marked out of 1.00 Flag question Question text Italian Garden Restaurant sold $20,000 of gift cards in May. These gift cards may be used anytime before their expiration on May 31 of the following year. In May, when the gift cards are sold, Italian Garden will credit: Select one: Unearned Revenue for $20,000 Cash for $20,000 Prepaid Revenue for $20,000 Accrued Revenue for $20,000 Check QUESTION 6 Not complete Marked out of 1.00 Flag question Question text General Mills sells cereal and other food items to Safeway. General Mills mails out 1,000,000 coupons to consumers on January 1 for $0.50 off a box of cereal. Based on past experience with this type of coupon, General Mills estimates that five percent of the coupons will be redeemed at Safeway. How much of a \"coupon liability\" will General Mills record on January 1 when the coupons are mailed? Select one: $500,000 $100,000 $ 25,000 $0 Check QUESTION 7 Not complete Marked out of 1.00 Flag question Question text Which of the following is not considered to be a contingent liability? Select one: Environmental cleanup costs Pending lawsuit award Credit guarantee Notes payable Check QUESTION 8 Not complete Marked out of 1.00 Flag question Question text Smith & Sons reported net income of $15,000, income tax expense of $3,000, and interest expense of $1,000. What is the company's timesinterestearned ratio? Select one: 19 18 15 3 Check QUESTION 9 Not complete Marked out of 1.00 Flag question Question text Smith & Sons reported current assets of $15,000, quick assets of $10,000, and current liabilities of $5,000. What is the company's current ratio? Select one: 1/3 1/2 2 3