Accounting

Which of the following statements is true?If the acid-test ratio is less than one, then paying off ...

Which of the following statements is true?If the acid-test ratio is less than one, then paying off ...

[html]Which of the following statements is true?If the acid-test ratio is less than one, then paying off some current liabilities with cash will increase the acid-test (quick) ratio.

drew911811   88   1 Reply

dmp7474

Which of the following statements is true?As the inventory turnover increases, the average sales ...

Which of the following statements is true?As the inventory turnover increases, the average sales ...

[html]Which of the following statements is true?As the inventory turnover increases, the average sales period decreases.
The formula for the average sale period is: Average sale p

harry32   91   1 Reply

Quiera730

Which of the following statements is true?As the accounts receivable turnover ratio decreases, the ...

Which of the following statements is true?As the accounts receivable turnover ratio decreases, the ...

[html]Which of the following statements is true?As the accounts receivable turnover ratio decreases, the average collection period increases.
If a company’s operating cycle is muc

remmylp   89   1 Reply

pedro0811

Which of the following statements is true?All other things the same, when a company increases its ...

Which of the following statements is true?All other things the same, when a company increases its ...

[html]Which of the following statements is true?All other things the same, when a company increases its inventories in anticipation of later higher sales, the accounts receivable turnover

ejoty   121   1 Reply

moqamoqa

Which of the following statements is true?All other things the same, those who hold the companys ...

Which of the following statements is true?All other things the same, those who hold the companys ...

[html]Which of the following statements is true?All other things the same, those who hold the company’s debt (i.e., its creditors) would like a low debt-to-equity ratio to provide a buffe

onetouch   85   1 Reply

mattyca001

Which of the following statements is true?All other things the same, if a company uses long-term ...

Which of the following statements is true?All other things the same, if a company uses long-term ...

[html]Which of the following statements is true?All other things the same, if a company uses long-term debt to purchase land to develop in the future, the company’s return on total assets

sam3359   85   1 Reply

ahgoebel

Which of the following statements is true?All other things the same, if long-term debt is exchanged ...

Which of the following statements is true?All other things the same, if long-term debt is exchanged ...

[html]Which of the following statements is true?All other things the same, if long-term debt is exchanged for short-term debt, the debt-to-equity ratio will be unchanged.
Issuing

manonvsb   92   1 Reply

angelord2510

Which of the following statements is true?All other things the same, purchasing merchandise ...

Which of the following statements is true?All other things the same, purchasing merchandise ...

[html]Which of the following statements is true?All other things the same, purchasing merchandise inventory would have no effect on the accounts receivable turnover ratio at a retailer.

SHABBA027   107   1 Reply

Botox14

Which of the following statements is true?All other things the same, purchasing inventory would ...

Which of the following statements is true?All other things the same, purchasing inventory would ...

[html]Which of the following statements is true?All other things the same, purchasing inventory would decrease the inventory turnover ratio.
Buying inventory in large lots to take

NeuroJuice   80   1 Reply

ksweet

Which of the following statements is true?Acquiring land by taking out a long-term mortgage will not ...

Which of the following statements is true?Acquiring land by taking out a long-term mortgage will not ...

[html]Which of the following statements is true?Acquiring land by taking out a long-term mortgage will not affect the current ratio.
Purchasing marketable securities with cash wil

Pois0n   102   1 Reply

cblack14

Which of the following statements is true?A high price-earnings ratio means that investors are ...

Which of the following statements is true?A high price-earnings ratio means that investors are ...

[html]Which of the following statements is true?A high price-earnings ratio means that investors are willing to pay a premium for the company’s stock.
An increase in the number of

xiaoyu000   90   1 Reply

rick32

Which of the following is not a source of financial leverage?

Which of the following is not a source of financial leverage?

Which of the following is not a source of financial leverage?

▸ Bonds payable.

▸ Accounts payable.

▸ Taxes payable.

▸ Prepaid rent.

pattytcakes   82   1 Reply

Marinaanderson0

Which of the following actions would improve a current ratio of 0.8?

Which of the following actions would improve a current ratio of 0.8?

[html]Which of the following actions would improve a current ratio of 0.8?

▸ Use cash to pay off some current liabilities.

▸ Purchase additional marketable securities with cash.

▸ Acquire a parcel of land in exchange for common stock.

▸ Purchase

jkim3464   95   1 Reply

brassgod

Valdovinos Corporation has provided the following data:Sales (all on account)$ 1,150,000Gross ...

Valdovinos Corporation has provided the following data:Sales (all on account)$ 1,150,000Gross ...

[html]Valdovinos Corporation has provided the following data:

tw1gg   66   1 Reply

thevoicexxx

Uhri Corporation has provided the following data:Year 2Year 1Common stock, $4 par value$ 320,000$ ...

Uhri Corporation has provided the following data:Year 2Year 1Common stock, $4 par value$ 320,000$ ...

[html]Uhri Corporation has provided the following data:

Flaco69   80   1 Reply

kaitmaw

Tweedle Corporation's most recent balance sheet and income statement appear below:Balance ...

Tweedle Corporation's most recent balance sheet and income statement appear below:Balance ...

[html]Tweedle Corporation's most recent balance sheet and income statement appear below:

danyyzz   74   1 Reply

teamroket

Tweedle Corporation's most recent balance sheet and income statement appear below:Balance ...

Tweedle Corporation's most recent balance sheet and income statement appear below:Balance ...

[html]Tweedle Corporation's most recent balance sheet and income statement appear below:

justxdrive   68   1 Reply

naderaide

The times interest earned ratio of Whitney Corporation is 3.0. The interest expense for the year is ...

The times interest earned ratio of Whitney Corporation is 3.0. The interest expense for the year is ...

[html]The times interest earned ratio of Whitney Corporation is 3.0. The interest expense for the year is $21,000, and the corporation's tax rate is 40%. The corporation's after-tax net income must be:

▸ $63,000

▸ $25,200

▸ $30,000

▸ $42,000[/htm

Bluffinmuffin   96   1 Reply

chandlerdeane

The Seabury Corporation has a current ratio of 3.9 and an acid-test ratio of 3.3. The corporation's ...

The Seabury Corporation has a current ratio of 3.9 and an acid-test ratio of 3.3. The corporation's ...

[html]The Seabury Corporation has a current ratio of 3.9 and an acid-test ratio of 3.3. The corporation's current assets consist of cash, marketable securities, accounts receivable, and inventories. Inventory equals $18,000. Seabury Corporation's cur

bananas87   78   1 Reply

chinwe20

The Seabury Corporation has a current ratio of 3.5 and an acid-test ratio of 2.8. The corporation's ...

The Seabury Corporation has a current ratio of 3.5 and an acid-test ratio of 2.8. The corporation's ...

[html]The Seabury Corporation has a current ratio of 3.5 and an acid-test ratio of 2.8. The corporation's current assets consist of cash, marketable securities, accounts receivable, and inventories. Inventory equals $49,000. Seabury Corporation's cur

laywatdut   104   1 Reply

jewelzzP

The ratio of total cash, marketable securities, and accounts receivable to current liabilities is:

The ratio of total cash, marketable securities, and accounts receivable to current liabilities is:

The ratio of total cash, marketable securities, and accounts receivable to current liabilities is:

▸ the debt-to-equity ratio.

▸ the current ratio.

▸ the acid-test ratio.

▸ working capital.

Blakksheep33   85   1 Reply

thevoicexxx

The market price of Friden Company's common stock increased from $15 to $18. Earnings per share of ...

The market price of Friden Company's common stock increased from $15 to $18. Earnings per share of ...

[html]The market price of Friden Company's common stock increased from $15 to $18. Earnings per share of common stock remained unchanged. The company’s price-earnings ratio would:

▸ increase.

▸ decrease.

▸ remain unchanged.

▸ impossible to determ

tennisalex   88   1 Reply

Quiera730

The gross margin percentage is equal to:

The gross margin percentage is equal to:

The gross margin percentage is equal to:

▸ (Net operating income + Selling and administrative expenses)/Sales

▸ Net operating income/Sales

▸ Cost of goods sold/Sales

▸ Cost of goods sold/Net income

anymous   61   1 Reply

k9kulprit

The following information relates to Conejo Corporation for last year:Book value per share$ 40Par ...

The following information relates to Conejo Corporation for last year:Book value per share$ 40Par ...

[html]The following information relates to Conejo Corporation for last year:

KoolinIt   53   1 Reply

alpha987

Tempel Corporation has provided the following data:Year 2Year 1Common stock, $4 par value$ 240,000$ ...

Tempel Corporation has provided the following data:Year 2Year 1Common stock, $4 par value$ 240,000$ ...

[html]Tempel Corporation has provided the following data:

nevermind11111   77   1 Reply

mrivas57

Symons Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and ...

Symons Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and ...

[html]Symons Corporation has provided the following financial data:

punkybrewster   61   1 Reply

k9kulprit

Symons Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and ...

Symons Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and ...

[html]Symons Corporation has provided the following financial data:

Trey4sho   56   1 Reply

jasm

Symons Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and ...

Symons Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and ...

[html]Symons Corporation has provided the following financial data:

Krazil   57   1 Reply

k9kulprit

Symons Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and ...

Symons Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and ...

[html]Symons Corporation has provided the following financial data:

Pois0n   58   1 Reply

Sirangelou

Symons Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and ...

Symons Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and ...

[html]Symons Corporation has provided the following financial data:

abdallaex   55   1 Reply

hamusa4

Stimac Corporation has total cash of $245,000, no marketable securities, total current receivables ...

Stimac Corporation has total cash of $245,000, no marketable securities, total current receivables ...

[html]Stimac Corporation has total cash of $245,000, no marketable securities, total current receivables of $316,000, total inventory of $165,000, total prepaid expenses of $60,000, total current assets of $786,000, total current liabilities of $282,

kady   74   1 Reply

shindh02

Stimac Corporation has total cash of $210,000, no marketable securities, total current receivables ...

Stimac Corporation has total cash of $210,000, no marketable securities, total current receivables ...

[html]Stimac Corporation has total cash of $210,000, no marketable securities, total current receivables of $281,000, total inventory of $151,000, total prepaid expenses of $53,000, total current assets of $695,000, total current liabilities of $261,

mariasmakatof   110   1 Reply

Gimor1220

Spomer Corporations inventory at the end of Year 2 was $114,000 and its inventory at the end of Year ...

Spomer Corporations inventory at the end of Year 2 was $114,000 and its inventory at the end of Year ...

[html]Spomer Corporation’s inventory at the end of Year 2 was $114,000 and its inventory at the end of Year 1 was $120,000. Cost of goods sold amounted to $710,000 in Year 2. The company’s inventory turnover for Year 2 is closest to:

▸ 5.92

▸ 1.05

JZ240   79   1 Reply

andrat

Spincic Corporation has provided the following data:Year 2Year 1Common stock, $2 par value$ 200,000$ ...

Spincic Corporation has provided the following data:Year 2Year 1Common stock, $2 par value$ 200,000$ ...

[html]Spincic Corporation has provided the following data:

killerbear900   77   1 Reply

daoneandonly300

Sperle Corporation has provided the following data concerning its stockholders equity accounts:Year ...

Sperle Corporation has provided the following data concerning its stockholders equity accounts:Year ...

[html]Sperle Corporation has provided the following data concerning its stockholders’ equity accounts:

jadinh   62   1 Reply

mlwpcd

Sperle Corporation has provided the following data concerning its stockholders equity accounts:Year ...

Sperle Corporation has provided the following data concerning its stockholders equity accounts:Year ...

[html]Sperle Corporation has provided the following data concerning its stockholders’ equity accounts:

tls043   64   1 Reply

moqamoqa

Sperle Corporation has provided the following data concerning its stockholders equity accounts:Year ...

Sperle Corporation has provided the following data concerning its stockholders equity accounts:Year ...

[html]Sperle Corporation has provided the following data concerning its stockholders’ equity accounts:

MrBio23   70   1 Reply

vicky12345

Sperle Corporation has provided the following data concerning its stockholders equity accounts:Year ...

Sperle Corporation has provided the following data concerning its stockholders equity accounts:Year ...

[html]Sperle Corporation has provided the following data concerning its stockholders’ equity accounts:

DoveNinja763537   68   1 Reply

finley07

Sperle Corporation has provided the following data concerning its stockholders equity accounts:Year ...

Sperle Corporation has provided the following data concerning its stockholders equity accounts:Year ...

[html]Sperle Corporation has provided the following data concerning its stockholders’ equity accounts:

minaebied   63   1 Reply

ggyxxcool

Smay Corporation has provided the following data:This YearLast YearAccounts receivable$ 107,000$ ...

Smay Corporation has provided the following data:This YearLast YearAccounts receivable$ 107,000$ ...

[html]Smay Corporation has provided the following data:

sheila   72   1 Reply

birdnugget