Given the Following Data

question 64

Multiple Choice

Given the following data:

Compute the ratio of liabilities to stockholders' equity for each year.Round to two decimal places.

• A)1.50 and 1.07,respectively
• B)1.35 and 1.50,respectively
• C)1.07 and 1.19,respectively
• D)1.19 and 1.35,respectively

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Definitions:

Bank Reconciliation

The process of matching and comparing figures from the accounting records against those presented on a bank statement to ensure consistency.

Cash Balance Per Books

The amount of cash according to a company's financial records or accounting books.

Reconciling Information

The process of ensuring that two sets of records or reports (usually financial) are in agreement and accurate.

October Bank Reconciliation

The process of comparing and adjusting the balance of an entity's accounting records for October with the balance reported by the bank.