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    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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    The solution explains some multiple choice questions relating to accounting

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