Filters
Question type
Study Flashcards

Pascarelli Corporation's inventory at the end of Year 2 was $122,000 and its inventory at the end of Year 1 was $150,000.Cost of goods sold amounted to $870,000 in Year 2.The company's average sale period (turnover in days) for Year 2 is closest to:


A) 230.1 days
B) 51.2 days
C) 57.0 days
D) 32.3 days

E) All of the above
F) None of the above

Correct Answer

verifed

verified

Arkin Corporation's total current assets are $290,000,its noncurrent assets are $520,000,its total current liabilities are $210,000,its long-term liabilities are $420,000,and its stockholders' equity is $180,000. Required: Compute the company's working capital.Show your work!

Correct Answer

verifed

verified

Working capital = Cu...

View Answer

Freiman Corporation's most recent balance sheet and income statement appear below: Freiman Corporation's most recent balance sheet and income statement appear below: The working capital at the end of Year 2 is: A) $260 thousand B) $680 thousand C) $700 thousand D) $540 thousand Freiman Corporation's most recent balance sheet and income statement appear below: The working capital at the end of Year 2 is: A) $260 thousand B) $680 thousand C) $700 thousand D) $540 thousand The working capital at the end of Year 2 is:


A) $260 thousand
B) $680 thousand
C) $700 thousand
D) $540 thousand

E) A) and B)
F) B) and D)

Correct Answer

verifed

verified

Jepson Corporation's most recent income statement appears below: Jepson Corporation's most recent income statement appears below: Required: Compute the gross margin percentage. Required: Compute the gross margin percentage.

Correct Answer

verifed

verified

Gross margin percent...

View Answer

The formula for the times interest earned ratio is: Times interest earned = Earnings before interest expense and income taxes ÷ Interest expense.

A) True
B) False

Correct Answer

verifed

verified

Nickolls Corporation has provided the following financial data: Nickolls Corporation has provided the following financial data: The company's working capital is: A) $1,215,000 B) $542,000 C) $793,000 D) $709,000 The company's working capital is:


A) $1,215,000
B) $542,000
C) $793,000
D) $709,000

E) A) and D)
F) C) and D)

Correct Answer

verifed

verified

Excerpts from Sydner Corporation's most recent balance sheet appear below: Excerpts from Sydner Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The inventory turnover for Year 2 is closest to: A) 3.75 B) 1.20 C) 4.09 D) 0.83 Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The inventory turnover for Year 2 is closest to:


A) 3.75
B) 1.20
C) 4.09
D) 0.83

E) All of the above
F) C) and D)

Correct Answer

verifed

verified

Ribaudo Corporation has provided the following financial data from its balance sheet and income statement: Ribaudo Corporation has provided the following financial data from its balance sheet and income statement: The company's operating cycle for Year 2 is closest to: A) 95.9 days B) 75.3 days C) 162.0 days D) 9.2 days The company's operating cycle for Year 2 is closest to:


A) 95.9 days
B) 75.3 days
C) 162.0 days
D) 9.2 days

E) C) and D)
F) A) and B)

Correct Answer

verifed

verified

Orem Corporation's current liabilities are $75,000,its long-term liabilities are $225,000,and its working capital is $100,000.If the corporation's debt-to-equity ratio is 0.30,total long-term assets must equal:


A) $1,000,000
B) $1,300,000
C) $1,125,000
D) $1,225,000

E) A) and B)
F) A) and C)

Correct Answer

verifed

verified

Neef Corporation has provided the following financial data from its balance sheet and income statement: Neef Corporation has provided the following financial data from its balance sheet and income statement: The company's return on equity for Year 2 is closest to: A) 67.25% B) 2.27% C) 1.47% D) 4.19% Neef Corporation has provided the following financial data from its balance sheet and income statement: The company's return on equity for Year 2 is closest to: A) 67.25% B) 2.27% C) 1.47% D) 4.19% The company's return on equity for Year 2 is closest to:


A) 67.25%
B) 2.27%
C) 1.47%
D) 4.19%

E) A) and C)
F) None of the above

Correct Answer

verifed

verified

Excerpts from Sydner Corporation's most recent balance sheet appear below: Excerpts from Sydner Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The average collection period for Year 2 is closest to: A) 55.1 days B) 0.9 days C) 1.1 days D) 57.8 days Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The average collection period for Year 2 is closest to:


A) 55.1 days
B) 0.9 days
C) 1.1 days
D) 57.8 days

E) None of the above
F) A) and C)

Correct Answer

verifed

verified

Financial statements for Maraby Corporation appear below: Financial statements for Maraby Corporation appear below: Maraby Corporation's average sale period for Year 2 was closest to: A) 38.8 days B) 32.6 days C) 46.6 days D) 27.0 days Financial statements for Maraby Corporation appear below: Maraby Corporation's average sale period for Year 2 was closest to: A) 38.8 days B) 32.6 days C) 46.6 days D) 27.0 days Maraby Corporation's average sale period for Year 2 was closest to:


A) 38.8 days
B) 32.6 days
C) 46.6 days
D) 27.0 days

E) A) and B)
F) C) and D)

Correct Answer

verifed

verified

Recher Corporation's common stock has a par value of $3 per share and has been stable at a total value of $270,000 on the company's balance sheet for several years.The total stockholders' equity at the end of this year was $1,023,000 and at the beginning of the year was $1,010,000.Net income for the year was $17,500.Dividends on common stock during the year totaled $4,500.The market price of common stock at the end of the year was $3.76 per share. The company's dividend yield ratio is closest to:


A) 1.7%
B) 17.1%
C) 1.3%
D) 26.3%

E) B) and C)
F) None of the above

Correct Answer

verifed

verified

Babbitt Corporation has provided the following data from its most recent income statement: Babbitt Corporation has provided the following data from its most recent income statement: Required: Compute the times interest earned ratio.Show your work! Required: Compute the times interest earned ratio.Show your work!

Correct Answer

verifed

verified

Times interest earne...

View Answer

Tempel Corporation has provided the following data: Tempel Corporation has provided the following data: The market price of common stock at the end of Year 2 was $2.77 per share.The company's price-earnings ratio for Year 2 is closest to: A) 9.23 B) 0.35 C) 4.54 D) 13.40 The market price of common stock at the end of Year 2 was $2.77 per share.The company's price-earnings ratio for Year 2 is closest to:


A) 9.23
B) 0.35
C) 4.54
D) 13.40

E) A) and B)
F) A) and C)

Correct Answer

verifed

verified

The formula for the average sale period is: Average sale period = Accounts receivable turnover ÷ Inventory turnover.

A) True
B) False

Correct Answer

verifed

verified

Doonan Corporation has provided the following financial data from its balance sheet and income statement: Doonan Corporation has provided the following financial data from its balance sheet and income statement: The market price of common stock at the end of Year 2 was $4.79 per share. The company's return on total assets for Year 2 is closest to: A) 1.77% B) 2.46% C) 1.80% D) 2.42% The market price of common stock at the end of Year 2 was $4.79 per share. The company's return on total assets for Year 2 is closest to:


A) 1.77%
B) 2.46%
C) 1.80%
D) 2.42%

E) B) and C)
F) A) and C)

Correct Answer

verifed

verified

Delfavero Corporation has provided the following data: Delfavero Corporation has provided the following data: The company's earnings per share for Year 2 is closest to: A) $10.33 per share B) $0.52 per share C) $0.34 per share D) $0.79 per share The company's earnings per share for Year 2 is closest to:


A) $10.33 per share
B) $0.52 per share
C) $0.34 per share
D) $0.79 per share

E) A) and D)
F) None of the above

Correct Answer

verifed

verified

Excerpts from Colter Corporation's most recent balance sheet appear below: Excerpts from Colter Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720. The current ratio at the end of Year 2 is closest to: A) 0.32 B) 0.38 C) 1.25 D) 1.20 Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720. The current ratio at the end of Year 2 is closest to:


A) 0.32
B) 0.38
C) 1.25
D) 1.20

E) A) and C)
F) C) and D)

Correct Answer

verifed

verified

Recher Corporation's common stock has a par value of $3 per share and has been stable at a total value of $270,000 on the company's balance sheet for several years.The total stockholders' equity at the end of this year was $1,023,000 and at the beginning of the year was $1,010,000.Net income for the year was $17,500.Dividends on common stock during the year totaled $4,500.The market price of common stock at the end of the year was $3.76 per share. The company's price-earnings ratio is closest to:


A) 19.79
B) 0.51
C) 8.36
D) 12.53

E) All of the above
F) A) and B)

Correct Answer

verifed

verified

Showing 161 - 180 of 289

Related Exams

Exam 1

Managerial Accounting and Cost Concepts

186 Questions

Exam 2

Job-Order Costing: Calculating Unit Production Costs

138 Questions

Exam 3

Job-Order Costing: Cost Flows and External Reporting

199 Questions

Exam 4

Process Costing

121 Questions

Exam 5

Supplement: Process Costing Using the Fifo Method

81 Questions

Exam 6

Cost-Volume-Profit Relationships

187 Questions

Exam 7

Variable Costing and Segment Reporting: Tools for Management

223 Questions

Exam 8

Activity-Based Costing: a Tool to Aid Decision Making

172 Questions

Exam 9

Master Budgeting

421 Questions

Exam 10

Flexible Budgets and Performance Analysis

115 Questions

Exam 11

Differential Analysis: The Key to Decision Making

114 Questions

Exam 12

Performance Measurement in Decentralized Organizations

118 Questions

Exam 13

Differential Analysis: The Key to Decision Making

133 Questions

Exam 15

Predetermined Overhead Rates and Overhead Analysis in a Standard Costing System

111 Questions

Exam 16

Journal Entries to Record Variance

56 Questions

Exam 17

The Concept of Present Value

13 Questions

Exam 18

The Direct Method of Determining the Net Cash Provided by Operating Activities

56 Questions

Show Answer