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If a company issues its common stock for equipment, this transaction would not be disclosed on
the statement of cash flows or in a separate schedule.
What is the stockholders’ equity to debt ratio for the following data? Total current liabilities
(noninterest bearing) - $300,000; bonds payable, 5% (issued in 2007, due in 20 years) $600,000; preferred 6% stock, $200 par - $240,000; common stock, $20 par - $480,000;
premium on common stock - $120,000; retained earnings - $420,000. Income before income
taxes was $180,000 and income taxes were $78,000 for the current year.
What is the accounts receivable turnover using the following data? Accounts receivable, January
1 - $36,000; accounts receivable, December 31 - $48,000; gross sales - $240,000; sales returns
and allowances - $30,000; net sales - $210,000.
If capital stock is split three for one, this transaction is reported on a statement of cash flows.
The former statement of changes in financial position presented information on the flow of
financial resources into and out of a business.
What is the acid-test ratio for the following data? Cash - $34,000; marketable securities $16,000; accounts and notes receivable, net - $46,000; merchandise inventory - $61,000;
prepaid expenses - $3,000; accounts and notes payable, short term - $64,000; accrued liabilities
- $16,000.
What is the acid-test ratio for the following data? Cash - $34,000; marketable securities $16,000; accounts and notes receivable, net - $46,000; merchandise inventory - $61,000;
prepaid expenses - $3,000; accounts and notes payable, short term - $64,000; accrued liabilities
- $16,000.