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ACC multiple choice questions




Question;Assume;ABC Company deposits $70,000 with First National Bank in an account earning;interest at 6% per annum, compounded semi-annually. How much will ABC have in;the account after five years if interest is reinvested?;$93,677.;$70,000.;$94,074.;$91,000.;Charlie;Corp. is purchasing new equipment with a cash cost of $250,000 for an assembly;line. The manufacturer has offered to accept $57,400 payment at the end of each;of the next six years. How much interest will Charlie Corp. pay over the term;of the loan?;$57,400.;$250,000.;$307,400.;$94,400.;Presented;below are data for Antwerp Corp.;2014;2015;Assets, January 1;$;2,800;$;3,360;Liabilities, January 1;1,680;?;Stockholders' Equity, Jan. 1;?;?;Dividends;560;420;Common Stock;504;448;Stockholders' Equity, Dec. 31;?;?;Net Income;560;448;Stockholders' Equity at January 1, 2014 is;$760.;$704.;$1,120.;$1,624.;Presented;below are data for Bandkok Corp.;2014;2015;Assets, January 1;$;5,900;$;6,480;Liabilities, January 1;3,240;?;Stockholders' Equity, Jan. 1;?;?;Dividends;1,080;810;Common Stock;972;864;Stockholders' Equity, Dec. 31;?;?;Net Income;1,280;864;Stockholders' Equity at January 1, 2015 is;$2,860.;$3,940.;$3,832.;$2,660.;Presented;below are data for Caracas Corp.;2014;2015;Assets, January 1;$;4,560;?;Liabilities, January 1;?;$;2,736;Stockholders' Equity, Jan. 1;?;2,750;Dividends;570;646;Common Stock;608;650;Stockholders' Equity, Dec. 31;?;2,266;Net Income;684;?;Net income for 2015 is;$484 income.;$484 loss.;$162 loss.;$162 income.;During;2014 the DLD Company had a net income of $75,000. In addition, selected;accounts showed the following changes;Accounts Receivable;$3,000;increase;Accounts Payable;1,000;increase;Buildings;4,000;decrease;Depreciation Expense;1,500;increase;Bonds Payable;8,000;increase;What was the amount of cash provided by operating activities?;$84,500;$74,500;$75,000;$76,500;Harding;Corporation reports the following information;Net income;$480,000;Depreciation expense;140,000;Increase in accounts receivable;60,000;Harding should report cash provided by operating activities of;$680,000.;$280,000.;$400,000.;$560,000.


Paper#39095 | Written in 18-Jul-2015

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