Q 2.17 : |
Which of the following can affect stockholders ' equity ? |
Select all that apply . |
Q 2.18 : |
Which of the following statements is true ? |
Q 2.19 : |
What does a current ratio of 1.20:1 mean ? |
Q 2.20 : |
Earnings per share measures the net income earned |
ACC 290 Chapter 2 Orion
• Question 1 Current assets are economic resources that are expected to be converted to cash or used up by the business within one year or the normal operating cycle , whichever is shorter .
• Question 2 A company purchased a tract of land on which it expects to build a production plant on in approximately five years . During the five years before construction , the land will be idle . In what classification should the land be reported ?
• Question 3 Current liabilities are $ 10,000 , long-term liabilities are $ 20,000 , common stock is $ 50,000 , and retained earnings totals $ 70,000 . How much is total stockholders ' equity ?
• Question 4 For 2014 , Stoneland Corporation reported net income , $ 24,000 ; net sales , $ 400,000 ; and average shares outstanding , 6,000 . There were no preferred stock dividends . How much was the 2014 earnings per share ?
• Question 5 in millions 2011 2010
Net income $ 1,277 $ 1,317
Preferred dividends -0- -0-
Shares outstanding at beginning of year 419 414
Shares outstanding at end of year 393 419