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17. (Points: 1) Which of the following tran...

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17. (Points: 1) Which of the following transactions is not a direct source of cash? a. Disposal of inventory for cash. b. Borrowing cash. c. Sale and issuance of capital stock for cash. d. Sale of services for cash. e. All of the above are direct sources of cash. 19. (Points: 1) Which of the following transactions is not a source of cash? a. Cash sales of merchandise. b. Sale and issuance of capital stock for cash. c. Short-term borrowing of cash. d. Sale of operational assets for cash. e. All of the above are typical sources of cash. 31. (Points: 1) On July 1, 20A, Wilson Company issued $300,000, five-year, 9% bonds at 103. The reason Wilson issued the bonds at a premium was a. the stated rate of interest was higher than the rate being paid on investments with comparable risk. b. the stated rate of interest was the same as the rate being paid on investments with comparable risk. c. the stated rate of interest was lower than the rate being paid on investments with comparable risk. d. the bonds were callable. e. None of the above is correct. 32. (Points: 1) Deany Company issued $100,000 bonds. The stated rate of interest was 8% and the market rate 9%. Which of the following statements is true? a. The bonds were issued at a premium. b. Annual interest expense will exceed the company's actual cash payments for interest. c. Annual interest expense will be $8,000. d. Deany Company cannot issue bonds if the market rate is higher than the stated rate. e. None of the above is correct. Save Answer 33. (Points: 1) If a bond is sold at 98, its stated rate of interest would be a. higher than the market rate. b. lower than the market rate. c. equal to the market rate. d. unrelated to the market rate. e. None of the above is correct. Save Answer 34. (Points: 1) Ratios are most useful for analysis when a. used alone. b. compared with historical ratios of the same company. c. compared with ratios for other companies in the industry. d. Both B and C are correct. e. All of the above are correct. Save Answer 35. (Points: 1) The base amount in preparing a common-size income statement is usually a. cost of goods sold. b. gross profit. c. net income. d. net sales. e. All of the above are appropriate. Save Answer 36. (Points: 1) The Able Company had net income of $47,500 and earnings per share of $3.17 during 20B. On December 31, 20B, the stock had a market price of $18.50 per share. What is Able's price/earnings ratio? a. 25.70. b. 8.11. c. 5.84. d. 0.17. e. None of the above is correct. Save Answer 37. (Points: 1) Perot Company had income before interest and taxes of $120,000. Interest expense for the period was $17,000 and income taxes amounted to $28,500. The average stockholders' equity was $680,000. What is Perot's return on equity? a. 17.65%. b. 15.15%. c. 13.46%. d. 10.96%. e. None of the above is correct. Save Answer 38. (Points: 1) A business must maintain a sufficient amount of working capital to a. meet current debts b. carry adequate inventories c. take advantage of cash discounts d. to maintain liquidity. e. All of the above are correct. Save Answer 39. (Points: 1) Crusader Company reported the following amounts in the 20A balance sheet Total assets $330,000 Total liabilities $100,000 Common stock, par value $9 (no preferred stock) $90,000 The book value of the common stock was a. $11. b. $20. c. $33. d. $22. e. None of the above is correct. Save Answer 40. (Points: 1) At the end of 20B, Storage Company reported outstanding common stock (par $20) of $300,000. Total liabilities were $440,000 and total assets were $860,000. The company had no preferred stock. The book value per share of common stock was a. $29.00. b. $13.90. c. $28.00. d. $14.00. e. None of the above is correct. Save Answer 41. (Points: 1) Bailey Corporation reported the following information for 20A Net income $10,000 Total assests $16,000 Total stockholders' equity $8,000 Morgan's debt/equity ratio was a. .33 or 33%. b. 1.25 or 125 %. c. 1.0 or 100%. d. 3.0 or 300%. e. None of the above is correct. Save Answer 42. (Points: 1) Shore Company reported income before extraordinary items of $25,000, total liabilities of $150,000, and total stockholders' equity of $100,000. The return on assets was a. 10%. b. 25%. c. 16.67%. d. Cannot be determined from the data given. e. None of the above is correct. 44. (Points: 1) The records of ZZZZ Better Corporation include the following: Average total assets $60,000 Average total liabilities $45,000 Total revenue $107,600 Total expense (including income tax) $104,000 The return on equity is (round to the nearest percent) a. 13%. b. 6%. c. 24%. d. 6%. e. None of the above is correct. Save Answer 45. (Points: 1) An important measure of the average movement of goods "on and off the shelf" of a company is the a. Profit margin. b. Price/earnings ratio. c. Inventory turnover ratio. d. Gross inventory ratio. e. None of the above is correct.,Thanks, These questions have been submitted to course hero before, I just couldn't access the answers if that helps or speeds the process.,Thanks my assignment grades automatically, here are the ones that were marked wrong. 39. Crusader Company reported the following amounts in the 20A balance sheet Total assets $330,000 Total liabilities $100,000 Common stock, par value $9 (no preferred stock) $90,000 The book value of the common stock was Student Response Value Correct Answer Feedback A. $11. B. $20. C. $33. D. $22. E. None of the above is correct. 0% Score: 0/1 The the correct answer is D. $22 45. An important measure of the average movement of goods "on and off the shelf" of a company is the Student Response Value Correct Answer Feedback A. Profit margin. B. Price/earnings ratio. C. Inventory turnover ratio. D. Gross inventory ratio. E. None of the above is correct. 0% Score: 0/1 The correct answer is C. Inventory Turnover Ratio

 

Paper#3369 | Written in 18-Jul-2015

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