1. Company A has assets of $1,000,000, liabilities = 400,000 and equity = $600,000. What is the debt to asset ratio for Company A?

1. Company A has assets of $1,000,000, liabilities = 400,000 and equity = $600,000. What is the debt to asset ratio for Company A?

1. Company A has assets of $1,000,000, liabilities = 400,000 and equity = $600,000.What is the debt to asset ratio for Company A?40% 60%100%20%1. Based on the following income statement what is the Net Profit Margin Ratio?Cinnamon and Spice., Inc.Income Statement12/31/2008 Revenue: Sales$200,000 Expenses: Selling expense112,000 Operating expense28,000 Interest expense25,000 Other expense15,000 Total expense180,000 Net Income$20,000 10% 20% 180% 80% 1. Sales with terms 2/ 10, n/ 30 means:The buyer gets a 10 percent discount for payment within 30 days.The buyer gets 2 percent discount for payment within 10 days.The buyer gets a 10 percent discount for payment within 10 days.The buyer gets a 2 percent discount for payment within 30 days.1. A $ 1,000 sale is made on May 1 with terms 2/ 10, n/ 30. What amount, if received on May 9, will be considered payment in full?$ 1,000$ 900$ 800$ 980 1. A company has net sales of $500,000 and cost of goods sold of $400,000. The companys gross profit percentage is:80%20% 50% 10%1. Company Alpha has Sales of $800,000, Sales Discounts of $40,000 and Sales Returns of $50,000. How will this be shown on the Income Statement?With net sales of $710,000 With net sales of $890,000With net sales of $790,000With net sales of $810,0001. InstructionsMATRIX INC. BANK RECONCILIATIONCash balance per bank$9,610Cash balance per books (general ledger)$7,430Outstanding checks$2,417Check mailed to the bank for deposit had not reached the bank by the statement date.$500NSF check returned by the bank for accounts receivable$225July interest earned on the bank statement$30Check no. 781 for supply expense cleared the bank for $268; erroneously recorded in our books for $240 Deposit by Acme Company erroneously credited to the Matrix bank account by the bank$4862. Prepare a standard bank reconciliation and answer the multiple choice questions in this exercise.QUESTIONS BELOWQuestion 11.How are the outstanding checks of $2,417 shown on the bank reconciliation?Reduction of the book balance.Reduction of the bank balance.Added to the book balance.Added to the bank balance.Outstanding checks are not shown on the bank reconciliation.Question 21.How is the check of $500 that was mailed to the bank, but not yet received by the bank, shown on the bank reconciliation?Reduction of the book balance.Reduction of the bank balance.Added to the book balance.Added to the bank balance.This item is not shown on the bank reconciliation.Question 31.How is the non sufficient funds (NSF) check shown on the bank reconciliation?Reduction of the book balance.Reduction of the bank balance.Added to the book balance.Added to the bank balance.This item is not shown on the bank reconciliation.Question 41.How is the interest earned shown on the bank reconciliation?Reduction of the book balance.Reduction of the bank balance.Added to the book balance.Added to the bank balance.Outstanding checks are not shown on the bank reconciliation.Question 51.Check #781 for supply expense was written for $268 and cleared the bank for that amount. However, when Matrix Inc. recorded the check in their books for $240. How is this error shown on the bank reconciliation?Reduction of the book balance of $268.Reduction of the bank balance of $268.Reduction of the book balance of $28.Reduction of the bank balance of $28.Reduction of the book balance of $240. Question 61.How is the erroneous deposit of $486 shown on the bank reconciliation?Reduction of the book balance.Reduction of the bank balance.Added to the book balance.Added to the bank balance.This item is not shown on the bank reconciliation.Question 71.What is the up to date ending cash balance (book) on the bank reconciliation?$7,207$7,657$7,707$7,177$9,624Question 81.What journal entry must be made on the Matrix Inc. books to record the NSF check of $225?Debit Cash $225; Credit Accounts Receivable $225Debit Accounts Receivable $225; Credit Cash $225Debit NSF Expense $225; Credit Cash $225Debit Cash $225; Credit Interest Income $225Question 91.What journal entry must be made on the Matrix Inc. books to record the interest income of $30?Debit Interest Income $30; Credit Cash $30Debit Interest Expense $30; Credit Cash $30Debit Interest Receivable $30; Credit Interest Income $30Debit Cash $30; Credit Interest Income $30Question 101.What journal entry must be made on the Matrix Inc. books to record the check #781 error?Debit Cash $28; Credit Supply Expense $28Debit Cash $268; Credit Supply Expense $268Debit Cash $240; Credit Supply Expense $240Debit Supply Expense $28; Credit Cash $28Debit Supply Expense $240; Credit Cash $240Question 111.What journal entry must be made on the Matrix Inc. books to record the erroneous deposit of $486?Debit Cash $486; Credit Bank Account $486Debit Bank Account $486; Credit Cash $486Debit Cash $486; Credit Income $486Debit Cash 486; Credit Expense $486No entry is made on the Matrix Inc. books.


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