Quiz 5 mylab.pearson.com/Student/PlayerTest.aspx?testld=245724589¢erwin=yes ACG 6026 ~ Fall 2022 Brickell (1) Cesar Arroyo 11/28/22 10:46 AM This quiz: 25 point(s) = Quiz: Quiz 5 Submit quiz The information related to interest expense of Classic Music, Inc. is given below: Net income $273,000 Income tax expense 112,000 Interest expense 65,000 Based on the above data, which of the following is the times interest - earned ratio? (Round the nal answer to two decimal places.) A. 4.02 times . 6.92 times C. 4.2 times . 5.2 times 6) Time Remaining: 01:28:14 m m Quiz 5 mylab.pearson.com/Student/PlayerTest.aspx?testld=245724589¢erwin=yes ACG 6026 ~ Fall 2022 Brickell (1) Cesar Arroyo 11/28/22 10:48 AM This quiz: 25 point(s) Quiz: Quiz 5 Question 22 of 25 possible This question: 1 point(s) Submit quiz possible On April 1, 2025, Orbit Services received $10,000 in advance of performing the services from a customer for three months of Question list K service - April, May and June. What would be the journal entry to adjust the accounts at the end of May? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.) U Question ly O Question 20 O A. Debit Service Revenue $6,667, and credit Accounts Receivable $6,667. O B. Debit Unearned Revenue $10,000, and credit Service Revenue $10,000. Question 21 O C. Debit Service Revenue $3,333, and credit Unearned Revenue $3,333. O D. Debit Unearned Revenue $6,667, and credit Service Revenue $6,667. Question 22 O Question 23 O Question 24 Time Remaining: 01:28:09 NextO E mylab.pearson.com/Student/PlayerTest.aspx?test|d:245724589¢erwin:yes ACG 6026 ~ Fall 2022 Brickell (1) Cesar Arroyo 11/28/2210248 AM CD This quiz: 25 point(s) possible This question: 1 point(s) possible Quiz: Quiz 5 Question 24 of 25 > Submit quiz _ _ Sales revenue for a sporting goods store amounted to $531,000 for the current period. All sales are on account and are subject to a Questlon Ilst l' sales tax of 12%. Which of the following would be included in the journal entry to record the sales transaction? U Question It} . a debit to Sales Revenue for $531,000 . a credit to Accounts Receivable for $531,000 . a debit to Sales Tax Payable for $63,720 . a debit to Accounts Receivable for $594,720 O Question 20 0 Question 21 0 Question 22 0 Question 23 0 Question 24 C) Time Remaining: 01:28:00 m Quiz 5 mylab.pearson.com/Student/PlayerTest.aspx?testld=245724589¢erwin=yes ACG 6026 ~ Fall 2022 Brickell (1) Cesar Arroyo 11/28/22 10:48 AM This quiz: 25 point(s) E Quiz: Quiz 5 Question 25 of 25 possible This question: 1 point(s) Submit quiz possible Albright Corp. has the following balances at the end of the current year: Question list K Total Assets $110,000 U Question 20 Total Liabilities 50,000 Total Equity 60,000 Calculate the debt to equity ratio. (Round your answer to two decimal places.) O Question 21 O Question 22 O A. 2.83 O B. 0.83 O C. 3.83 Question 23 O D. 1.83 Question 24 Question 25 Time Remaining: 01:27:55 Submit quiz