Answered step by step
Verified Expert Solution
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
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started