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Following are some examples from a practice book that I have. I am kind of confused with the answers, if somebody could help me, I will really appreciate it.

Thanks,

1. The maturity value of a $15,000, 60-day, 5% note payable is _______.
$15,750
$750
$15,125
$125

2. The following totals for the month of June were taken from the payroll register of ABC Company:

Salaries expense

$13,000

Social security and Medicare Taxes withheld

975

Income Taxes withheld

2,600

Retirement Savings

500

The entry to record the payment of net pay would include a ________.
debit to Salaries Payable for $13,000
Debit to Salaries Payable for $8,925
Credit to Salaries Expense for $8,925
Credit to Salaries Payable for $8,925

3. During its first year of operations, a company granted employees vacation privileges and pension rights estimated at a cost of $20,500 and $15,000. The vacations are expected to be taken in the next year and the pension rights are expected to be paid in the future 5-30 years. What is the total cost of vacation pay and pension rights to be recognized in the first year?
$29,500
$35,500
$23,500
$20,500

4. A corporation issues 2,000 shares of common stock for $ 32,000. The stock has a stated value of $10 per share. The journal entry to record the stock issuance would include a credit to Common Stock for ________.
$20,000
$32,000
$12,000
$2,000

5. The journal entry to issue 1,000,000 shares of $5 par common stock for $7.00 per share on January 2nd would be: _______.

Jan 2 Cash 7,000,000
Common Stock 5,000,000
Paid-In Capital in Excess
of Par - C/S 2,000,000

Jan 2 Cash 5,000,000
Common Stock 5,000,000

Jan 2 Cash 5,000,000
Paid-In Capital in Excess
of Par - C/S 2,000,000
Common Stock 5,000,000

Jan 2 Cash 1,000,000
Common Stock 1,000,000

6. When Bunyan Corporation was formed on January 1, 20xx, the corporate charter provided for 100,000 share of $10 par value common stock. The following transaction was among those engaged in by the corporation during its first month of operation: The corporation issued 8,000 shares of stock at a price of $22.00 per share.

The entry to record the above transaction would include a ________.

debit to Cash for $80,000
credit to Common Stock for $176,000
credit to Paid in Capital in Excess of Par- for $96,000
debit to Common Stock for $80,000

7. On January 1, 20xx, Sunshine Corporation had 40,000 shares of $10 par value common stock issued and outstanding. All 40,000 shares had been issued in a prior period at $20.00 per share. On February 1, 20xx, Sunshine purchased 2,000 shares of treasury stock for $23 per share and later sold the treasury shares for $21 per share on March 1, 20xx.

The journal entry to record the purchase of the treasury shares on February 1, 20xx, would include a ________
credit to Treasury Stock for $46,000
debit to Treasury Stock for $46,000
debit to a loss account for $6,000
credit to a gain account for $6,000

8. The journal entry to issue 1,000,000 shares of $5 par common stock for $6.25 per share on January 2nd would be: _______

Jan 2 Cash 6,250,000
Common Stock 5,000,000
Paid-In Capital in Excess
of Par - C/S 1,250,000

Jan 2 Cash 5,000,000
Common Stock 5,000,000

Jan 2 Cash 5,000,000
Paid-In Capital in Excess of Par - C/S 1,250,000
Common Stock 6,250,000

Jan 2 Cash 1,000,000
Common Stock 1,000,000

9. Day Inc. has 5,000 shares of 5%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2006. What is the annual dividend on the preferred stock?
$50 per share
$25,000 in total
$600 in total
$0.50 per share

10. What is the total stockholders' equity based on the following account balances?

Common Stock

$400,000

Paid-In Capital in Excess of Par

40,000

Retained Earnings

190,000

Treasury Stock

20,000

$640,000
$630,000
$610,000
$650,000

11. A corporation purchases 10,000 shares of its own $10 par common stock for $25 per share, recording it at cost. What will be the effect on total stockholders' equity?
increase, $100,000
increase, $250,000
decrease, $100,000
decrease, $250,000

12. What is the total stockholders' equity based on the following data?

Common Stock

$800,000

Excess of Issue Price Over Par

375,000

Retained Earnings (deficit)

50,000

$1,100,000
$1,125,000
$1,175,000
$1,225,000

13. 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

14. What is the total stockholders' equity based on the following data?

Common Stock

$500,000

Excess of Issue Price Over Par

375,000

Retained Earnings (deficit)

40,000

$915,000
$875,000
$835,000
$540,000

15. A corporation has 50,000 shares of $28 par value stock outstanding that has a current market value of $160. If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately ________.
$7
$112
$40
$640

16. The present value of $40,000 to be received in one year, at 6% compounded annually, is (rounded to nearest dollar) ________.
$37,736
$42,400
$40,000
$2,400

17. The Mansur Company issued $100,000 of 12% bonds on May 1, 2007 at face value. The bonds pay interest semiannually on January 1 and July 1. The bonds are dated January 1, 2007, and mature on January 1, 2011. The total interest expense related to these bonds for the year ended December 31, 2007 is ______.
$2,000
$4,000
$8,000
$12,000

18. On January 1, 2007, the Queen Corporation issued 10% bonds with a face value of $100,000. The bonds are sold for $98,000. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 2011. Queen records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31, 2007, is ________.
$9,600
$9,800
$10,400
$10,200

19. When the market rate of interest was 11%, Welch Corporation issued $100,000, 8%, 10-year bonds that pay interest semiannually. Using the straight-line method, the amount of discount or premium to be amortized each interest period would be ________.
$4,000
$896
$17,926
$1,793

20. On January 1, 2007, the Kings Corporation issued 10% bonds with a face value of $100,000. The bonds are sold for $96,000. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 2011. Kings records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31, 2007, is _______.
$9,200
$9,800
$10,400
$10,800

21. Bonds Payable has a balance of $900,000 and Premium on Bonds Payable has a balance of $10,000. If the issuing corporation redeems the bonds at 102, what is the amount of gain or loss on redemption?
$1,100 loss
$1,100 gain
$8,000 loss
$8,000 gain

22. On the statement of cash flows prepared by the indirect method, the cash flows from operating activities section would include ________.
receipts from the sale of investments
amortization of premium on bonds payable
payments for cash dividends
receipts from the issuance of capital stock

23. A building with a book value of $ 45,000 is sold for $50,000 cash Using the indirect method, this transaction should be shown on the statement of cash flows as follows: ________.
an increase of $45,000 from investing activities
an increase of $50,000 from investing activities and a deduction from net income of $5,000
an increase of $50,000 from investing activities
an increase of $45,000 from investing activities and an addition to net income of $5,000

24. Land costing $47,000 was sold for $78,000 cash. The gain on the sale was reported on the income statement as other income. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
$78,000
$47,000
$109,000
$31,000

25. Land costing $68,000 was sold for $50,000 cash. The loss on the sale was reported on the income statement as other expense. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
$50,000
$78,000
$118,000
$68,000

26. The net income reported on the income statement for the current year was $250,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:

End

Beginning

Cash

$ 50,000

$ 60,000

Accounts receivable

112,000

108,000

Inventories

105,000

93,000

Prepaid expenses

4,500

6,500

Accounts payable (merchandise creditors)

75,000

89,000

What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
$271,000
$279,000
$327,000
$256,000

26. 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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Amino acids multiple choice questions

Which statement is incorrect about the classification of amino acids?
a. Alanine and valine are neutral, nonpolar amino acids.
b. Lysine and arginine are basic amino acids.
c. Tryptophan and phenylalanine are aromatic amino acids.
d. Aspartic acid and aspargine are acidic amino acids.

Which of the following amino acids is the least water soluble at pH 7.0?
a. Tryptophan
b. Glutamic acid
c. Cysteine
d. Histidine

Which amino acid would migrate the furthest toward the anode (positive electrode) during paper electrophoresis at pH 7.0?
a. Aspartic acid
b. Alanine
c. Lysin
d. Glutamine

Which of the following functional groups, attached to an inert matrix, could function as a cation exchanger?
a. Diethylaminoethyl-
b. p-aminobenzyl-
c. Carboxymethyl-
d. Trimethylammonium-

Which of the following amino acids would make the best buffer at pH 4.5?
a. Histidine
b. Alanine
c. Glutamine
d. Aspartic acid

Which fact is incorrect about stereoisomers?
a. A diastereomer is a nonsuperimposable non-mirror image.
b. An enantiomer is a nonsuperimposible mirror image.
c. Diastereomers have different melting points.
d. Diastereomers rotate plane polarized light in equal but opposite direction.

Which statement is incorrect about L-isoleucine?
a. Its enantiomer is named O-isoleucine.
b. It contains a total of two asymmetric or chiral carbons.
c. It can also be named as (28, 38)-isoleucine using the (R,8) system.
d. Its diastereomer would be named O-alloisoleucine.

An isoelectric amino acid was dissolved in water and the resulting pH was approximately 7.6. What amino acid would possess this property?
a. Alanine
b. Glutamic acid
c. Histidine
d. Lysine

What volume of NaOH is required to adjust the solution of monosodium aspartate to pH 9.8?
a. 1 ml
b. 2 ml
c. 3 ml
d. 6 ml or more

What volume of 2 N Hel is required to completely titrate the 4 mmol of monosodium aspartate?
a. 2 ml
b. 3ml
c. Aml
d. 6 ml or more

Which statement is correct about the peptide ala-ser?
a. Alanine is at the N-terminal of the peptide.
b. There are a total six atoms that lie in the plane of the peptide bond linking alanine to serine.
c. The alpha-carbon of alanine is sp3 hybridized d All the above are correct statements.

What is the product formed from the acid hydrolysis of a simple amide?
a. Acid & base
b. Aldehyde & alcohol
c. Acid & amine
d. Ester & alcohol

The complete acid hydrolysis of the peptide ala-gln-trp-ser would yield:
a. Ala, gin, trp, ser
b. Ala, glu, ser
c. Ala, glu, trp, ser
d. Ala. ser

Fibrous proteins, such as collagen, have which of the following properties?
a. Highly soluble in water
b. Their hydrophilic residues are directed into the interior of the protein
c. Exhibit enzymatic activity
d. Serve structural roles in the cell

Quaternary structure is associated with:
a. The overall shape of a polypeptide chain
b. The sum of the secondary and tertiary interactions
c. Simple proteins with only one subunit
d. The relative orientation of one polypeptide to another polypeptide in a multi-subunit protein.

The information needed to define the structure of a protein is essentially contained in:
a. Amino acid composition
b. Amino acid sequence
c. Secondary structure
d. Tertiary structure.

Insulin is a polypeptide hormone that contains two short polypeptide chains linked by two interstrand disulfide bonds. The most logical order of events to perform in order to sequence this protein would be:
A: The peptides are reduced with mercaptoethanol.
B: The peptides are sequenced using Edman chemistry .
C: The peptides are separated by chromatography techniques. 0: The peptides are alkylated with iodoacetamide.
a. A, D,C, B b.C,A, 0, B
c. C, B, A, 0
d. A, B, C, 0

Which statement is incorrect about the peptide val-asp-trp-asn-ser?
a. This peptide would show a strong absorption band at 280 nm.
b. Reaction with chymotrypsin would yield two peptides.
c. To synthesize this peptide using the solid phase method of Merrifield, the amino acid directly attached to the resin would be serine.
d. After the second round of Edman chemistry using the reagent PITC, the PTH -amino acid residue released would be PTH-asn.

Which statement is incorrect about the reaction of the peptide ser-Iys-asp-trp-cys-metasn-phe-ala with the following reagents?
a. Reaction with cyanogens bromide would yield two peptides.
b. Reaction with trypsin would result in three peptides. The smallest of three peptides would have the highest pi of the three.
c. Reaciton with chymotrypsin would result in the peptides ser-Iys-asp & try-cys-met-Iysasn-phe-ala .
d. Reaction with chymotrypsin would yield a different set of peptides that overlap those obtained with tryspsin

Determine the amino acid sequence of the following oligopeptide from the experimental data below:
The amino acid composition is found the be ala, Iys, phe, met, cys plus some
decompsition products.
2. The peptide has a molecular weight around 700 Da and absorbs at 280 nm.
3. Treatment with carboxypeptidase results in tryptophan and a peptide.
4. CNBr treatment yields a tetrapeptide and a dipeptide.
5. Trypsine digestion produces an amino acid and a pentapeptide with met on the amino end.
6. Chymotrypsin digestion yields a dipeptide and a tetrapeptide.
a. trp-Iys-met-cys-met-ala
b. Iys-met-cys-phe-ala-trp
c. trp-ala-phe-cys-met-Iys
d. Iys-ala-cys-phe-met -trp

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