Jennings Company has total assets of $433 million. Its total liabilities are $114.5 million. Its equity is $318.5 million. Calculate the debt ratio. (Round your answer to 1 decimal place.) Multiple Choice 15.2%. 35.9% 13.7% O 26.4% O 37.6% O At the end of its first month of operations, JMP Consulting reported Revenue of $38,800 It also reported Wages Expense, $6,600; Rent Expense, $5,600; and Utilities Expense, $1,300. Calculate net income reported on the income statement at month-end. Multiple Choice $19,700 $25,300 $7.900 O $30.900 O $5,600 On July 1 of the current calendar year. Plum Company paid $8,500 cash for management services to be performed over a two-year period beginning July 1 The adjusting entry on December 37 of the current year for Plum would include: Multiple Choice A debit to a prepaid expense and a credit to Cash for $6,375. A debit to an expense and a credit to a prepaid expense for $6,375. A debit to a prepaid expense and a credit to an expense for $2,125 A credit to a liability and a debit to a prepaid expense for $2.125. A debit to an expense and a credit to a prepaid expense for $2,125 On January 1, a company purchased a five-year insurance policy for $2,300 with coverage starting immediately. If the purchase was recorded in the Prepaid Insurance account, and the company records adjustments only at year-end, the adjusting entry at the end of the first year is: Multiple Choice Debit Prepaid Insurance, $1,840, credit Insurance Expense, $1,840 Debit Insurance Expense, $1,840, credit Prepaid Insurance, $1.840 Debit Insurance Expense, $460, credit Prepaid Insurance, $460. Debit Prepaid Insurance. $460, credit Insurance Expense, $460. Debit Prepaid Insurance, $2,300, credit Cash, $2,300 Prior to recording adjusting entries, the Office Supplies account had a $386 debit balance. A physical count of the supplies showed $99 of unused supplies available. The required adjusting entry is: Multiple Choice Debit Office Supplies $99 and credit Supplies Expense $287 Debit Office Supplies Expense $99 and credit Office Supplies $99. Debit Office Supplies $287 and credit Office Supplies Expense $287 Debit Office Supplies Expense $287 and credit Office Supplies $287 Debit Office Supplies $99 and credit Office Supplies Expense $99