Questions from Financial Accounting

Q: A company reports the following: Net income …………………………………………….. $ 500

A company reports the following: Net income …………………………………………….. $ 500,000 Preferred dividends ……………………………………… 25,000 Average stockholders’ equity …………………….. 3,125,000 Average common stockholders’ equi...

Q: A company reports the following: Net income …………………………………………….. $460

A company reports the following: Net income …………………………………………….. $460,000 Preferred dividends ………………………………….. $40,000 Shares of common stock outstanding ………….. 150,000 Market price per share of common...

Q: A company reports the following: Net income …………………………………………….. $640

A company reports the following: Net income …………………………………………….. $640,000 Preferred dividends …………………………………... $82,000 Shares of common stock outstanding ……………. 60,000 Market price per share of common...

Q: Income statement information for Turay Corporation follows: Sales …………………..………….. $

Income statement information for Turay Corporation follows: Sales …………………..………….. $200,000 Cost of merchandise sold …….. 140,000 Gross profit …………………………. 60,000 Prepare a vertical analysis of the inco...

Q: Income statement information for Ivanoff Corporation follows: Sales …………………………………… $

Income statement information for Ivanoff Corporation follows: Sales …………………………………… $1,400,000 Cost of merchandise sold …………… 812,000 Gross profit ……………………………… 588,000 Prepare a vertical analysis of th...

Q: The following items are reported on a company’s balance sheet:

The following items are reported on a company’s balance sheet: Cash ………………………………. $120,000 Marketable securities …………. 40,000 Accounts receivable (net) ….… 50,000 Inventory ………………………….. 90,000 Account...

Q: The following items are reported on a company’s balance sheet:

The following items are reported on a company’s balance sheet: Cash ………………………………… $320,000 Marketable securities …………… 170,000 Accounts receivable (net) …….. 140,000 Inventory ………………………….. 450,000 Acc...

Q: A company reports the following: Sales …………………………………………………….. $1,

A company reports the following: Sales …………………………………………………….. $1,460,000 Average accounts receivable (net) ………………… 100,000 Determine (a) the accounts receivable turnover and (b) the number of days’ sa...

Q: How does the accounting for a dividend received differ for equity investments

How does the accounting for a dividend received differ for equity investments of less than 20% ownership and equity investments of between 20%–50% ownership?

Q: A company reports the following: Sales ………………………………………………….. $6,

A company reports the following: Sales ………………………………………………….. $6,862,000 Average accounts receivable (net) ………………. 365,000 Determine (a) the accounts receivable turnover and (b) the number of days’ sal...