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MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Table 4.1 Greene Landscaping Balance Sheet December 31, 2008 Assets

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MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Table 4.1 Greene Landscaping Balance Sheet December 31, 2008 Assets Liabilities Cash Accounts Receivable Supplies $15,000 30,000 4,000 Accounts payable Salaries payable Unearned service revenue $ 22,000 12,000 25,000 8,000 Total liabilities 59,000 Prepaid insurance Equipment Less: Accumulated depreciation $85,000 Owner's Equity 10.000 75.000 73,000 Seth Greene, capital Total liabilities and owner's equity Total assets $132.000 $132,000 1) 1) The Balance Sheet for Green Landscaping is presented above in Table 4.1. What is the total of current assets? A) $132.000 B) S 57.000 C) $ 45,000 D) $ 15,000 2) 2) The Balance Sheet for Green Landscaping is presented above in Table 4.1. What is the total of current liabilities? A) $ 59,000 B) $ 34,000 C) $ 22,000 D) $132,000 3) The Balance Sheet for Green Landscaping is presented above in Table 4.1. Which of the following is 3) the current ratio? A) 25 B) 97 C).68 D) 1.27 4) The Balance Sheet for Green Landscaping is presented above in Table 4.1. Which of the following is 4) the debt ratio? A) 1.04 B) 39 C).45 D).79

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