Strayer Acc556 chapter 13 Homework Latest 2016 Jan.

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Strayer Acc556 chapter 13 Homework
Latest 2016 Jan.



·
Question 1


1 out of 1 points



Comprehensive
income includes all revenues, expenses, gains, losses, and dividends.



·
Question 2


1 out of 1 points



A
primary purpose of vertical analysis is to observe trends over a three-year
period.



·
Question 3


1 out of 1 points



In
the vertical analysis of an income statement, each item is generally stated
as a percentage of net income.



·
Question 4


1 out of 1 points



Leverage
and return on equity are closely related.



·
Question 5


1 out of 1 points



Because
pro forma earnings are based on specific rules, these amounts are highly
reliable.



·
Question 6


1 out of 1 points



Which
of the following income statement figures would probably be the best
indicator of a company’s future performance?



·
Question 7


1 out of 1 points



The
discontinued operations section of the income statement refers to



·
Question 8


1 out of 1 points



Patchett
Company reported income before taxes of $800,000 and an extraordinary loss of
$200,000. Assume that the company’s tax rate is 25%. What amounts will be
reported on the income statement for income before irregular items and
extraordinary items, respectively?



·
Question 9


1 out of 1 points



Comprehensive
income would not include



·
Question 10


1 out of 1 points



All
of the following statements are true regarding comprehensive income except



·
Question 11


1 out of 1 points



Horizontal
analysis of comparative financial statements includes the



·
Question 12


1 out of 1 points



Assume
the following cost of goods sold data for a company:


2015 $1,300,000

2014 1,200,000

2013 1,000,000


If 2013 is the base year, what is the percentage increase in cost of goods
sold from 2013 to 2015?



·
Question 13


1 out of 1 points



The
best way to study the relationship of the components within a financial
statement is to prepare



·
Question 14


1 out of 1 points



The
following schedule is a display of what type of analysis?

Amount Percent

Currentassets $100,000
25%

Property, plant, and equipment 300,000 75%

Totalassets $400,000
100%



·
Question 15


1 out of 1 points



Stockholders
are most interested in evaluating



·
Question 16


1 out of 1 points



Somen
to Park Corporation had net credit sales of $4,060,000 and cost of goods sold
of $3,000,000 for the year. The Accounts Receivable balances at the beginning
and end of the year were $650,000 and $750,000, respectively. The accounts
receivable turnover was



·
Question 17


1 out of 1 points



BVI
Corporation had net income of $1,600,000 and paid dividends to common
stockholders of $400,000 in 2014. The weighted average number of shares
outstanding in 2014 was 500,000 shares. BVI Corporation’s common stock is
selling for $50 per share on the NASDAQ. BVI Corporation’s payout ratio for
2014 is



·
Question 18


1 out of 1 points



A
successful grocery store would probably have



·
Question 19


1 out of 1 points



The
following information pertains to Blue Flower Company. Assume that all
balance sheet amounts represent both average and ending balance figures.
Assume that all sales were on credit.


Assets

Cash and short-terminvestments $
45,000

Accounts receivable(net) 30,000

Inventory 15,000

Property, plant andequipment
210,000


TotalAssets $300,000


Liabilities
and Stockholders’ Equity

Currentliabilities $
60,000

Long-termliabilities 90,000

Stockholders’equity—common
15,000


Total Liabilities and Stockholders’Equity $300,000


Income
Statement

Salesrevenue $ 121,000

Cost of goodssold
66,000


Grossmargin 55,000

Operatingexpenses
30,000


Netincome $ 25,000


Number of shares of commonstock 6,000

Market price of commonstock $20

Dividends per share on commonstock .50

Cash provided byoperations $40,000


What is the current ratio for this company?



·
Question 20


10 out of 10 points



For each of the
ratios listed below, indicate by the appropriate code letter, whether it is a
liquidity ratio, a profitability ratio, or a solvency ratio.




o


Question


Price-earnings
ratio


Return on
assets


Accounts
receivable turnover ratio


Earnings per
share


Payout ratio


Current cash
debt coverage


Current ratio


Debt to assets
ratio


Free cash flow


Inventory
turnover




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