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Multiple Choice

Gray County Bank agrees to lend the Starkwood Building Company $100,000 on January 1. Starkwood Building Company signs a $100,000, 9%, 9-month note. The entry made by Starkwood Building Company on January 1 to record the proceeds and issuance of the note is: _________.

Interest Expense 9,000
Cash 91,000
Notes Payable 100,000

Cash 100,000
Notes Payable 100,000

Cash 100,000
Interest Expense 9,000
Notes Payable 109,000

Cash 100,000
Interest Expense 9,000
Notes Payable 109,000
Interest Payable 4,500

Based on the following information, calculate the dividend yield on common stock

Market price per share

$40.00

Earnings per share

4.00

Dividends per share

1.00

Investor's cost per share

30.00

0.075
0.025
0.133
0.033

A corporation has 50,000 shares of $25 par value stock outstanding that has a current market value of $120. If the corporation issues a 5-for-1 stock split, the par value of the stock will be _______.
$5
$60
unchanged
$24

The following selected account balances appeared on the financial statements of the Franklin Company:

Accounts Receivable, Jan. 1

$13,000

Accounts Receivable, Dec. 31

9,000

Accounts Payable, Jan 1

4,000

Accounts payable Dec. 31

7,000

Merchandise Inventory, Jan 1

10,000

Merchandise Inventory, Dec 31

15,000

Sales

56,000

Cost of Goods Sold

31,000

The Franklin Company uses the direct method to calculate net cash flow from operating activities. Cash collections from customers are ________.
$56,000
$52,000
$60,000
$45,000

Solution Summary

The solution explains some multiple choice questions relating to accounting

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