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just need answer don't need explanation Question 6 (1 point) Anett Enterprises Condensed Balance Sheet As at December 31, 2015 2015 Assets Current Assets Capital
just need answer don't need explanation
Question 6 (1 point) Anett Enterprises Condensed Balance Sheet As at December 31, 2015 2015 Assets Current Assets Capital Equipment Total Assets 28 900 240900 269 800 Liabilities Current Liabiti Long-Term Liabilities Total Liabilities 13 600 74.800 88.400 Owner's Equity J.Amet Capital 151.400 Total Liabilities and Owner's Equity 269.802 Using Arnett Enterprises condensed balance sheet above, the current ratio is a) 20:1 Ob) 47.1% c) 0.5:1 Od) 2.1:1. Question 7 (1 point) % 100.0% Common Size Comparative Income Statement For the year ended December 31, 2015 Company A % Company B Sales 248.900 100.0% 248.900 Cost of Goods Sold 54 Gross Profit 46.8% Operating Expenses 31.8% Net Income 14.3% 4529 3429 110% Using only the data presented below for Company A and Company B with identical sales, Company A is the more profitable company B. a) True Ob) False Question 8 (1 point) A company purchased a stapler for $75. The stapler was recorded for $57 in the company's books but the cheque was issued for $75. How should this error be corrected? a) Increase the bank account in the company's books for $18. Ob) The bank should make a correcting entry for $18. Oc) Decrease the bank account in the company's books for $18. O d) No action is required. Question 9 (1 point) The average owner's equity is an indicator of liquidity. a) True b) False Question 10 (1 point) A cheque that was outstanding on last month's bank reconciliation was not among the cancelled cheques returned by the bank this month. In preparing this month's bank reconciliation, how should this cheque be handled? a) The amount of the cheque should be added to the book balance of cash. Ob) The book balance should be adjusted for the amount. Oc) It should be cancelled. O d) The amount should be deducted from the bank statement balance. Question 11 (1 point) Liquidity ratios are used to check the business' ability to pay current liabilities without borrowing funds or selling assets. a) True b) False Question 12 (1 point) In comparative or horizontal analysis, a decrease from 2015 to 2016 is considered bad. a) True Ob) FalseStep by Step Solution
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