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Accounting 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 2015Assets, January 1 $ 2,800 $ 3,360Liabilities, January 1 1,680?Stockholders' Equity, Jan. 1??Dividends 560 420Common Stock 504 448Stockholders' Equity, Dec. 31??Net Income 560 448Stockholders' Equity at January 1, 2014 is $760.$704.$1,120.$1,624.Presented below are data for Bandkok Corp. 2014 2015Assets, January 1 $ 5,900 $ 6,480Liabilities, January 1 3,240?Stockholders' Equity, Jan. 1??Dividends 1,080 810Common Stock 972 864Stockholders' Equity, Dec. 31??Net Income 1,280 864Stockholders' Equity at January 1, 2015 is $2,860. $3,940. $3,832. $2,660.Presented below are data for Caracas Corp. 2014 2015Assets, January 1 $ 4,560?Liabilities, January 1? $ 2,736Stockholders' Equity, Jan. 1? 2,750Dividends 570 646Common Stock 608 650Stockholders' Equity, Dec. 31? 2,266Net 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 increaseAccounts Payable 1,000 increaseBuildings 4,000 decreaseDepreciation Expense 1,500 increaseBonds Payable 8,000 increaseWhat was the amount of cash provided by operating activities? $84,500$74,500$75,000$76,500Harding Corporation reports the following information:Net income $480,000Depreciation expense 140,000Increase in accounts receivable 60,000Harding should report cash provided by operating activities of$680,000.$280,000.$400,000.$560,000.


Paper#40929 | Written in 18-Jul-2015

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