Questions from General Accounting

Q: Voorhees Company has stockholders’ equity of $400,000 and net

Voorhees Company has stockholders’ equity of $400,000 and net income of $72,000. It has a payout ratio of 18% and a return on assets of 20%. How much did Voorhees pay in cash dividends, and what were...

Q: Using these data from the comparative balance sheet of Ramirez Company,

Using these data from the comparative balance sheet of Ramirez Company, perform horizontal analysis.

Q: Using the data presented in BE13-4 for Ramirez Company,

Using the data presented in BE13-4 for Ramirez Company, perform vertical analysis. Data given in BE13-4:

Q: Net income was $500,000 in 2012, $485

Net income was $500,000 in 2012, $485,000 in 2013, and $518,400 in 2014. What is the percentage of change from (a) 2012 to 2013, and (b) from 2013 to 2014? Is the change an increase or a decrease?

Q: If Francona Company had net income of $382,800 in

If Francona Company had net income of $382,800 in 2014 and it experienced a 16% increase in net income over 2013, what was its 2013 net income?

Q: The following T-account is a summary of the cash account

The following T-account is a summary of the cash account of Kemper Company. What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows?

Q: Francum Company has the following data: direct labor $209,

Francum Company has the following data: direct labor $209,000, direct materials used $180,000, total manufacturing overhead $208,000, and beginning work in process $25,000. Compute (a) total manufactu...

Q: In alphabetical order below are current asset items for Ruiz Company’s balance

In alphabetical order below are current asset items for Ruiz Company’s balance sheet at December 31, 2014. Prepare the current assets section (including a complete heading). Accounts receivable …………...

Q: Utech Company has income before irregular items of $310,000

Utech Company has income before irregular items of $310,000 for the year ended December 31, 2014. It also has the following items (before considering income taxes): (1) an extraordinary fire loss of $...

Q: Here is the income statement for Eberle, Inc. EBERLE

Here is the income statement for Eberle, Inc. EBERLE, INC. Income Statement For the Year Ended December 31, 2014 Sales revenue ……………………………………………………………………………………. $400,000 Cost of goods sold ……………………………...