Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Marlin Enterprises signed a lease for office space during their first month of business. At that time they paid a total of $12,000 for first

image text in transcribedimage text in transcribed

Marlin Enterprises signed a lease for office space during their first month of business. At that time they paid a total of $12,000 for first and last months' rent. At the end of the first month, the effect on the financial statements would be O$12,000 rent expense. $6,000 rent expense and $6,000 prepaid rent on the Statement of Financial Position. O $12,000 prepaid rent on the Statement of Financial Position. Nothing recorded because the company has not made any sales yet. Question 8 (1 point) Harmon Enterprises ROA has increased year over year. Factors contributing to this increase may include O increase in the average cost of total assets. O increase in revenues. O increase in expenses. O all of the above Which of the following would be the most useful in determining if a company has sufficient resources to continue operations in the short-term? O the profit margin ratio O the return on assets ratio O the cash from operating activities O the cash from financing activities Question 10 (1 point) Shareholders of a publicly traded company want to assess the return on their investment. The shareholders should use the following ratio to help specifically assess this: O Gross profit margin. OROE. OROA. O Profit margin

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Coping With Financial Accounting 1 For Senior Secondary Schools And Undergraduate Studies

Authors: Festus Chukwunwendu Akpotohwo ,Stella Alfred-Jaja Wellington-Igonibo ,Cletus Ogeibiri

1st Edition

3659611034, 978-3659611032

More Books

Students also viewed these Accounting questions

Question

1 Explain the importance and features of an employment portfolio

Answered: 1 week ago

Question

Develop successful mentoring programs. page 400

Answered: 1 week ago