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company has $56,000 in cash;$12,000 in accounts receivable;$25,000 in short-term investments;and $100,000




Question;A company has $56,000 in cash, $12,000 in accounts receivable, $25,000 in short-term investments, and $100,000 in merchandise inventory. The company also has $60,000 in current liabilities. The company's quick ratio isA.3.217.B.1.550.C.0.933.D.1.133.Patty's Baker has cost of goods sold for the years 2011, 2010, and 2009, respectively, of $28,600, $26,900, and $25,600. If 2009 is the base year, the trend percentage for 2011 isA.11.72%.B.111.72%.C.5.08%.D.105.08%.If total assets are $6,000, what is the common-size figure of cash, assuming that cash has a balance of $2,400?A.100.0%B.40.0%C.120.0%D.60.0%Operating cash flows affectA.current assets and current liabilities.B.equity accounts.C.long-term liability accounts.D.long-term asset accounts.If current assets were $100,000 in 2009 and $88,000 in 2010, what was the amount of increase or decrease in percentage terms from 2009 to 2010? (Round to the nearest percent.)A.Increase of 14%B.Increase of 12%C.Decrease of 12%D.Decrease of 14%Casey Company has an accounts receivable turnover of 36 days, an inventory turnover of 77 days, and an accounts payable turnover of 40 days. Casey's cash conversion cycle is _______ day(s).A.81B.1C.73D.153Casey Company has 5,000 shares of treasury cost that it purchased for $13 per share. It later resold 2,000 of those shares for $17 per share. The amount to be credited to Paid-in Capital?Treasury Stock isA.$30,000.B.$8,000.C.$34,000.D.$26,000.Isaiah Corporation's Accounts Receivable increased by $35,000, and its Accounts Payable decreased by $18,000. What is the net effect on cash from operations under the indirect method?A.?$18,000B.?$53,000C.+$17,000D.+$35,000Operating expenses?other than depreciation?for the year were $335,000. Prepaid expenses decreased by $7,000. Cash payments for operating expenses to be reported on the cash flow statement using the direct method would beA.$342,000. B.$328,000.C.$7,000.D.$335,000.For vertical analysis purposes, the base item on the income statement expenses.C.gross sales.Casey Company has a $2,400 credit balance in Paid-In Capital? Treasury Stock. It sells 500 shares of treasury stock that the company reacquired at $21/share, for $18/share. After the transaction, what will the balance be in the Paid-In Capital in Excess of Par? Treasury account?A.$900 credit B.$3,900 credit C.$900 debit D.$1,500 debitRyan Industries has an inventory turnover of 112 days, an accounts payable turnover of 73 days, and an accounts receivable turnover of 82 days. Ryan's cash conversion cycle is _______ days.A.43B.121C.9D.103The Isaiah Corporation Stockholders' Equity section includes the following information:Preferred StockPaid-in Capital in Excess of Par?Preferred Common StockPaid-in Capital in Excess of Par?Common Retained Earnings$22,000 2,980 48,000 3,400 7,350Total par value of the preferred and common stock isA.$70,000.B.$83,730.C.$77,350.D.$76,380.Earnings that a stockholder receives from a corporation are an example of which stockholder right? A.PreemptionB.LiquidationC.DividendsD.VoteTammy Corporation has 350,000 shares of $3 par common stock outstanding. It has declared a 5% stock dividend. The current market price of the common stock is $7.50/share. The amount that will be debited to retained earnings on the date of declaration isA.$78,750.B.$131,250.C.$52,500.D.$183,750.Accounts receivable amounted to $215,000 at the beginning of the year and $245,000 at the end of the year. Income reported on the income statement for the year was $300,000. The cash flow from operating activities on the cash flow statement using the indirect method isA.$315,000.B.$300,000.C.$270,000.D.$330,000.What are the rate of return on stockholders' equity and the rate of return on common stockholders' equity (rounded to the nearest one-tenth of a percent) given the following information:Net IncomePreferred DividendsCommon StockCommon Stockholders? Equity 1/1/2011 4,400,000 Total Stockholders? Equity 1/1/2011 5,300,000 Total Stockholders? Equity 12/31/2011 5,500,000A.Return on Stockholders' Equity: 6.5 %, Return on Common Stockholders' Equity: 7.6%B.Return on Stockholders' Equity: 7.8 %, Return on Common Stockholders' Equity: 8.9%C.Return on Stockholders' Equity: 5.6 %, Return on Common Stockholders' Equity: 6.7% D.Return on Stockholders' Equity: 8.1 %, Return on Common Stockholders' Equity: 9.2% What is the rate of return on common stockholders' equity if sales are $100,000, net income is $22,700, and average common stockholders' equity is $86,000?A.The rate of return can't be determined from the information given.B.26.4%C.22.7%D.86.0%If you own 500 shares (2% of a corporation's stock) and the corporation issues 15,000 new shares, how many of the new shares can you purchase under preemptive right?A.0B.300C.500D.800Which activities are computed differently using the two methods of formatting a statement of cash flows?A.Operating activitiesB.Both operating activities and investing activitiesC.Investing activitiesD.Financing activities


Paper#44324 | Written in 18-Jul-2015

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