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quiz 2 question homework

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Question;H Review;Test Submission: Quiz 2;Instructions;Question 1 0;out of 1 points;Market Value versus Book Value Glo's Glasses balance sheet;lists net fixed assets as $20 million. The fixed assets could currently be sold;for $25 million. Glo's current balance sheet shows current liabilities of $7;million and net working capital of $3 million. If all the current accounts were;liquidated today, the company would receive $9 million cash after paying $7;million in liabilities. What is the book value of Glo's assets today? What is;the market value of these assets?;Question 2;1 out of 1 points;Common stockholders' equity divided by number of shares of;common stock outstanding is the formula for calculating;Question 3;0 out of 1 points;You are evaluating the balance sheet for Goodman's Bees;Corporation. From the balance sheet you find the following balances: Cash and;marketable securities = $ 200,000, Accounts receivable = $1,100,000, Inventory;= $2,000,000, Accrued wages and taxes = $500,000, Accounts payable = $600,000;and Notes payable = $100,000. Calculate Goodman's Bees' net working capital.;Question 4;0 out of 1 points;Corporate Taxes The Ohio Corporation had a 2010 taxable;income of $50,000,000 from operations after all operating costs but before;(1) interest;charges of $500,000;(2) dividends;received of $45,000;(3) dividends;paid of $10,000,000, and;(4) income;taxes.;Using the tax schedule in Table 2.3, what is Ohio's income;tax liability?;What are Ohio's average and marginal tax rates on taxable;income from operations?;Review Test Submission: Quiz 2 3/12/14, 11:41 AM;Question 5;0 out of 1 points;Balance Sheet Harvey's Hamburger Stand has total assets of;$3 million of which $1 million are current assets. Cash makes up 20 percent of;the current assets and accounts receivable makes up another 5 percent of;current assets. Harvey's gross plant and equipment has a book value of $1.5;million and other long-term assets have a book value of $1 million. Using this;information, what is the balance of inventory and the balance of depreciation;on Harvey's Hamburger Stand's balance sheet?;Question 6;0 out of 1 points;Which financial statement reports the amounts of cash that;the firm generated and distributed during a particular time period?;Response Feedback;incorrect;Question 7;0 out of 1 points;This is the amount of additional taxes a firm must pay out;for every additional dollar of taxable income it earns.;Question 8;1 out of 1 points;LLV Inc. originally forecasted the following financial data;for next year: Sales = $1,000, Cost of goods sold = $710 and Interest expense =;$95. The firm believes that COGS will always be 71% of sales. Due to pressure;from shareholders, the firm wants to achieve a net income of $150. Assuming the;interest expense will remain the same, how large must sales be to achieve this;goal? Assume a 35% tax rate.;Question 9;0 out of 1 points;Free Cash Flow The 2010 income statement for Lou's Shoes;shows that depreciation expense is $2 million, EBIT is $5 million, EBT is $3;million, and the tax rate is 40 percent. At the beginning of the year, the;balance of gross fixed assets was $16 million and net operating working capital;was $6 million. At the end of the year gross fixed assets was $20 million.;Lou's free cash flow for the year was $4 million. What is their end of year;balance for net operating working capital?;Question 10;0 out of 1 points;Income Statement You have been given the following;information for Ross's Rocket Corp.: net sales = $1,000,000;gross profit = $400,000;addition to retained earnings = $60,000;dividends paid to preferred and common stockholders =;$90,000, depreciation expense = $50,000.;The firm's tax rate is 40 percent. What are the cost of;goods sold and the interest expense for Ross's Rocket Corp.?;Question 11;0 out of 1 points;Statement of Retained;Earnings Use the following information to find dividends paid to common;Question 12;0 out of 1 points;Which financial statement reconciles net income earned;during a given period and any cash dividends paid within that period using the;change in retained earnings between the beginning and end of the period?;Question 13 0;out of 1 points;Which of the following is NOT a source of cash?;Question 14;0 out of 1 points;Market Value versus Book Value Acme Bricks balance sheet;lists net fixed assets as $40 million. The fixed assets could currently be sold;for $50 million. Acme's current balance sheet shows current liabilities of $15;million and net working capital of $12 million. If all the current accounts;were liquidated today, the company would receive $77 million cash after paying;$15 million in liabilities. What is the book value of Acme's assets today? What;is the market value of these assets?;Question 15;0 out of 1 points;Statement of Retained Earnings TriCycle, Corp. began the;year 2008 with $25 million in retained earnings. The firm earned net income of;$7 million in 2008 and paid $1 million to its preferred stockholders and $3;million to its common stockholders. What is the year-end 2008 balance in;retained earnings for TriCycle?;Wednesday, March 12, 2014 11:41:23 AM PDT

 

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