Prepaid expenses appear as an expense on the income

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Prepaid expenses appear:As an expense on the income statement.As an asset on the balance sheet.As a liability on the balance sheet.As a reduction to retained earnings.
Which of the following statements regarding depreciation is correct?
Gourmet Shop purchased cash registers on April 1 for $12,000. If this asset has an estimated useful life of four years,what is the book value of the cash registers on May 31?
21.award:2 out of2.00 pointsExpense account:22.award:2 out of2.00 points23.award:2 out of2.00 points24.award:2 out of2.00 pointsnotbe entered into the income statement columns?The December 31, 2014 worksheet for Fran's Fine Dining showed the following amounts related to the SuppliesExpense account:
What is the proper balance in the Supplies Expense account on January 1, 2015, after all closing entries for 2014 havebeen posted, but before any 2015 transactions are recorded?$870.$745.$0.$125.The expense account would have been closed out for 2014; the beginning balance for 2015 would be $0.
Closing entries never involve posting a credit to the:
If current assets are $90,000 and current liabilities are $70,000, the current ratio will be:
When a worksheet is prepared, which account would notbe entered into the income statement columns?
25.award:2 out of2.00 points26.award:0 out of2.00 points

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