Question 21. Question :
Stride Rite has total assets of
$425 million. Its total liabilities are $110 million. Its equity is
$315 million. Calculate the debt ratio.
38.6%
13.4%
34.9%
25.9%
14.9%
Question 22. Question :
of an expense is:
An asset created by prepayment
Recorded as a debit to an unearned
revenue account
Recorded as a debit to a prepaid expense
account
Recorded as a credit to an unearned
revenue account
Recorded as a credit to a prepaid expense
account
Not recorded in the accounting records
until the earnings process is complete