Q48. Review questions 3 (1) Entity A recorded annual depreciation expense of $4,300. (2) Entity B accrued $9,200 salaries expense to be paid on the
Q47. Review questions 2 (1) On May 2, 20×1, Entity A purchased 600 units of merchandise at $9 per unit and paid $5,400 in cash.
Section 8. Review Q46. Review questions 1 (1) What are the examples of transactions recorded on the debit side of a journal entry? (2) What
Q50. Definitions of ratios What are the names of the following ratios? (1) Net income / Sales (2) Gross profit / Sales (3) Net income
Q49. Example II-B Using the information presented below, calculate the solvency and activity ratios. [Financial information] Cash = $370,000 Accounts receivable = $780,000 Inventory =
Q48. Example II-A Using the information presented below, calculate the profitability and liquidity ratios. [Financial information] Cash = $370,000 Accounts receivable = $780,000 Inventory =