The cash basis of accounting records revenues and expenses when the cash is exchanged while the accrual basis of accounting Oa. records revenues and expenses when the company needs to apply for a loan Ob. records revenues when they are earned and expenses when they are incurred c. records revenues when they are earned and expenses when they are paid Od. records revenues when cash is received and expenses when they are incurred Cash and accounts receivable for Adams Company are provided below: Current Year Prior Year Cash $51,205 $38,500 Accounts receivable (net) 36,844 60,400 Based on this information, what is the amount and percentage of increase or decrease that would be shown with horizontal analysis? Enter a decrease using a minus sign before the amount and the percentage. a Account Dollar Change Percent Change Cash 51,205 33 % increase Accounts Receivable 36,539 % decrease The following information was taken from Slater Company's balance sheet: Fixed assets (net) $1,950,080 Long-term liabilities 443,200 Total liabilities 962,520 Total stockholders' equity 2,468,000 Determine the company's (a) ratio of fixed assets to long-term llabilities, and (b) ratio of liabilities to stockholders' equity. Round your answers to one decimal place. a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equity The balance in the supplies account before adjustment at the end of the year is $878. The proper adjusting entry if the amount of supplies on hand at the end of the year is $239 would be Oa. debit Supplies Expense, $639; credit Supplies, $639 Ob. debit Supplies Expense, $239; credit Supplies, $239 Oc. debit Supplies, $239; credit Supplies Expense, $239 Od. debit Supplies, $639; credit Supplies Expense, $639