Fill in the chart (in the photo)IeWill the following aje have a decrease, increase, or have no impact on: the current ratio and on the profit margin. Payroll debit 72,000Accrued payroll credit 72000Depreciation expense debit 125000Accumulated depreciation credit 125000Prepaid insurance debit 15000Insurance expense 15000 Impact onImpact on profit1AccountDebitCreditcurrent ratiomarginPayroll expense72,000Accrued payroll72,0004Depreciation125,000expenseAccumulated125,000depreciation7Prepaid insurance15,0009.Insurance expense15,000wAPRMacBook AirDDDIIここ。F10F9888F8F7F6F5F4&2$%745YR* 00くOCO

Current ratio is calculated by dividing the current assets with current liabilities. Current ratio =…

Answered: Impact on Impact on profit 1 Account…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

Fill in the chart (in the photo) Ie Will the following aje have a decrease, increase, or have no impact on: the current ratio and on the profit margin. Payroll debit 72,000 Accrued payroll credit 72000 Depreciation expense debit 125000 Accumulated depreciation credit 125000 Prepaid insurance debit 15000 Insurance expense 15000

Impact on
Impact on profit
1
Account
Debit
Credit
current ratio
margin
Payroll expense
72,000
Accrued payroll
72,000
4
Depreciation
125,000
expense
Accumulated
125,000
depreciation
7
Prepaid insurance
15,000
9.
Insurance expense
15,000
w
APR
MacBook Air
DD
DII
ここ。
F10
F9
888
F8
F7
F6
F5
F4
&
2$
%
7
4
5
Y
R
* 00
くO
CO

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions