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A company made no adjusting entry for accrued and unpaid employee wages of $28,000 on December 31. This oversight would:

Identify the statement below that is correct.

A net loss occurs when revenues exceed expenses.

Identify the statement below that is correct.

In preparing a company’s statement of cash flows for the most recent year, Random Corp. reported the following information:        Repayment of outstanding bonds $ 107,000 Purchase of treasury stock   62,000 Issuance of common stock   46,000 Payment of cash dividends   15,000 Net cash flows from financing activities for the year were:

When a company provides services for which cash will not be received until some future date, the company should record the amount billed as accounts receivable.

Jennings, Co. makes a $25,000, 90-day, 7% cash loan to Clayton Co. Jennings’s entry to record the transaction should be:

A credit entry:

Mah Jong Company’s most recent balance sheet reported total assets of $1.9 million, total liabilities of $0.8 million, and total equity of $1.1 million. Its Debt to equity ratio is:

Sing Sing Company reported Cost of goods sold of $835,000 and ending Inventory of $41,750. The Days’ sales in inventory (rounded to whole days) is: