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A Moving to another question will save this response. Question 7 Your friend who is in FGB 380 asks you for the definition of current ratio. You would tell him the current ratio is: O current assets plus current liabilities O current assets minus current liabilities O current assets divided by current liabilities current assets times current liabilities Moving to another question will save this response. A Moving to another question will save this response. Question 8 At the end of January (1st month of operations) Cloud Company had the following items shown in their trial balance: Cash Accounts payable Supplies expense Dividends 5660 Equipment 630 Common stock 120Revenues earned 240 Advertising expense 5 900 Salary expense 1,200 Accounts receivable 1500 Supplies 180 Utilities expense $600 270 210 150 What will be shown as Cloud's total expenses on the income statement for the month of January? O $1.050 5450 $210 51.290 A Moving to another question will save this response. Question 9 Beach Ball Company purchased equipment for 59 cash. As a result of this event, Beach Ball's Equity decreased by 59 Assets remained unchanged Assets increased by 59 Both A and C are correct Moving to another question will save this response

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