Cash is $30,000, net income is $120,000, prepaid expenses are $10,000…

Cash is $30,000, net income is $120,000, prepaid expenses are $10,000, current liabilities are $100,000, accounts receivable are $30,000, and merchandise inventory is $20,000. The quick ratio is:
a. 0.60
b. 0.70
c. 0.80
d. 0.90
For 2015, Moser Inc had beginning and ending accounts receivable balances of €60’000 and €70’000, respectively. The year’s sales on account were €240’000. What was the amount of cash received from customers during the year?
a. €130’000
b. €250’000
c. €230’000
d. €240’000
Which of the following assets is provided the longest length of legal protection? copyright patent trademark goodwill
If a company capitalizes cost that it should have expensed in 20X7 (assume no income tax effect) Operating Cash flow will be higher in 20X7 Operating Cash flow will be lower in 20X7 Net income will be lower in 20X7 Net income will be higher in 20X7
Huber Inc completed a consulting project for Yellow Inc. on June 2nd and billed Yellow on July 10th. For Yellow Inc. this is a Deferred (unearned) revenue A deferred expense An accrued revenue An accrued expense
Hein Corporation had a net loss of $10’000, depreciation expense of $12’000 and a decrease in Accounts Receivable of $9000. The cash provided/used in operating activities, assuming no other charges in accounts is: ($7’000) $1’000 $11’000 $31’000
Which of the following is the appropriate journal entry for the company to make on the date of record of dividends?
a. Retained Earnings
b. Paid-In Capital in Excess of Par Value
Dividends Payable
c. Retained Income
Dividends Payable
d. None of the above

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