ACCOUNTING

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Fanshawe College *

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6014

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Finance

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Apr 3, 2024

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docx

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The 3 sections of a Cash Flow Statement are the: Question 1 options: Operating, Investing and Financing sections Operating, Financing and Liability sections Investing, Financing and Liabiltiy sections Cash, Investing and Financing sections Which of the following lists of items are all assets? Question 2 options: Inventory, Supplies Expense, Cash, Accounts Receivable Accounts Payable, Cash, Inventory, Investments Cash, Notes Payable, Inventory, Investments Accounts Receivable, Investments, Cash, Inventory Previous PageNext Page ABC Company during the month of November realized net income of $15,600. At the beginning of the November, ABC Company had a balance in Retained Earnings of $80,000. ABC also issued dividends of $1,400 during the month of November. ABC has contributed capital of $42,000. ABC's Retained Earnings closing balance at the end of November is: Question 3 options: $137,600 $95,600 $94,200 $136,200 Last year Javer Company had a net income of $200,000, income tax expense of $74,000, and interest expense of $20,000. The company's times interest earned was closest to: Question 4 options: 11.00 times. 10.00 times. 5.30 times. 14.70 times. Dragin Company's working capital is $36,000 and its current liabilities are $61,000. The company's current ratio is closest to:

Question 5 options: 0.59 to 1. 0.41 to 1. 1.59 to 1. 2.69 to 1. Which one of the following would increase the working capital of a company? Question 6 options: Payment of a 20-year mortgage payable with cash. Refinancing a short-term note payable with a two-year note payable. Cash collection of accounts receivable. Cash payment of payroll taxes payable. Harwichport Company has a current ratio of 3.5 to 1 and an acid-test ratio of 2.8 to 1. Current assets equal $175,000 of which $5,000 consists of prepaid expenses. Harwichport Company's inventory must be: Question 7 options: $35,000. $30,000. $40,000. $50,000. Arquandt Company's net income last year was $550,000. The company has 150,000 shares of common stock and 50,000 shares of preferred stock outstanding. There was no change in the number of common or preferred shares outstanding during the year. The company declared and paid dividends last year of $1.20 per share on the common stock and $1.70 per share on the preferred stock. The earnings per share of common stock are closest to: Question 8 options: $2.47. $4.23. $6.67. $3.10.

Draban Company's working capital is $38,000 and its current liabilities are $59,000. The company's current ratio is closest to: Question 9 options: 0.64 to 1. 2.55 to 1. 0.36 to 1. 1.64 to 1. If a firm has a high current ratio but a low acid-test ratio, one can conclude that: Question 10 options: the firm has a large outstanding accounts receivable balance. the firm has a large amount of current liabilities. the firm has a large investment in inventory. the firm's financial leverage is very high. Previous PageNext Page Karl Company has total assets of $170,000 and total liabilities of $110,000. The company's debt-to-equity ratio is closest to: Question 11 options: 0.65 to 1. 0.35 to 1. 0.39 to 1. 1.83 to 1. The gross margin percentage is most likely to be used to assess: Question 12 options: the efficiency of administrative departments. how quickly inventories are sold. the overall profitability of the company's products. how quickly accounts receivables can be collected. Horizontal analysis of financial statements may be accomplished through: Question 13 options: computing net income as a percentage of sales. placing statement items on an after-tax basis.

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computing both earnings per share and the price-earnings ratio. trend percentages. In which section of the cash flow statement will dividends payable be reported? Question 14 options: Financing activities Operating activities Investing activities In none of the sections - it is not a cash flow In which section of the cash flow statement will the cash outflow from purchasing land be reported? Question 15 options: Financing activities Operating activities In none of the sections - it is not a cash flow Investing activities WRONG QUESTION Dragin Company's working capital is $36,000 and its current liabilities are $61,000. The company's current ratio is closest to: 0.59 to 1. 0.41 to 1. 1.59 to 1. 2.69 to 1. Question 9 0 / 1 point Draban Company's working capital is $38,000 and its current liabilities are $59,000. The company's current ratio is closest to: 0.64 to 1.

2.55 to 1. 0.36 to 1. 1.64 to 1.