Multiple Choice
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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
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