Table 4-4
Selected Accounting Data as at December 31, 2019

question 34

Multiple Choice

Table 4-4
Selected accounting data as at December 31, 2019 for Huma Delivery follows: $$\begin{array} { | l | r | } \hline \text { Cash } & \$ 11,000 \\\hline \text { Accounts payable } & 8,000 \\\hline \text { Accounts receivable } & 5,500 \\\hline \text { Salary payable } & 6,300 \\\hline \text { Supplies } & 1,200 \\\hline \text { Unearned revenue } & 2,200 \\\hline \text { Prepaid rent } & 4,600 \\\hline \text { Mortgage payable (due 2023) } & 5,500 \\\hline \text { Equipment } & 22,000 \\\hline \text { J. Huma, Capital } & 19,900 \\\hline \text { Accum. amort.-equipment } & 6,100 \\\hline \text { Service revenue } & 29,000 \\\hline \text { Salary expense } & 8,000 \\\hline \text { Furniture } & 12,000 \\\hline \text { Accum. amort. furniture } & 4,000 \\\hline \text { Amortization expense } & 6,800 \\\hline \text { Utilities expense } & 4,300 \\\hline \text { Rent expense } & 5,600 \\\hline\end{array}$$
-Referring to Table 4-4, the current ratio is:

• A)1.01.
• B)0.84.
• C)0.74.
• D)1.35.

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Definitions:

Percentage Change

A mathematical calculation that represents the degree of change over time, usually expressed as a percent.

Target Profit

The desired profit a company aims to achieve for a particular product or service over a certain period.

Dollar Sales

The total revenue generated from goods or services sold, measured in dollar value.

Break-Even

The situation where overall costs are equivalent to overall revenues, resulting in neither gains nor losses.