Judge Corporation has a debt to assets ratio of A) Judge has working capital that's 796 of it's liabilities This tells the user of Judge's financial statements B) there is a risk that Judge cannot pay its debts C) 93% of the assets are financed by the stockholders. D) based on this measure, the user should not invest in Judge The Mac Company has four plants wide the 450 million. Acum depreciation on the plants is SI00 million December 31, 2022. The current fair value of the plants that des million. The plants will be reported on the December 31, 2022 balance sheet A) S350 million B) $700 million C) $300 million D) $600 million 13. Comstock Company provided consulting services and billed the client $2.500. As a result of this event A) assets remain unchanged. B) assets increased by $2.500 C) equity increased by $2,500. D) Both assets and equity increased by $2,500. Crawford Company started the year with $60,000 in its Common Stock account and a credit balance in Retained Earnings of $44.000. During the year, the company earned net income of $48.000 and declared and paid $20,000 of dividends. In addition, the company sold additional common stock of $28.000. As a result, the amount of its retained earnings at the end of the year would be A) $160,000 B) $72.000 C) $132,000 D) $100,000 15. In recording an accounting transaction in a double-entry system A) the number of debit accounts must equal the number of credit accounts B) there must always be entries made on both sides of the accounting equation C) the amount of the debits must equal the amount of credits. D) there must only be two accounts affected by any transaction 16. Which of the following errors, each considered individually, would cause the trial balance to be out of balance? A) A payment of $148 to a creditor was posted as a debit to Accounts Payable and a debit of $148 Cash B) Cash of $530 received from a customer on account was posted as a debit of $350 to Cash and as a credit of $350 to Accounts Payable. C) A payment of $59 for supplies was posted as a debit of $95 to Supplies and a credit of $95 to Cash. D) A transaction was not posted. Otto's Tune-Up Shop follows the revenue recognition principle. Otto services a car on August 31. The customer picks up the vehicle on September 1 and mails the payment to Otto on September 5. Otto receives the check in the mail on September 6. When should Otto show that the revenue was recognized? A) August 31 B) August 1 C) September 5 D) September 6