Question

receivable 19. According to the article, Annual Report vs. 10-K: What's the difference? Which of the following statements is true? a) The annual report is submitted to the AICPA which the 10-K is submitted to the SEC. b) 10-K s found on the SEC's website but the annual report is found on the company's website c) The annual report is more comprehensive than the 10-K d) 10-Ks are submitted quarterly, and the annual report is once a year 20. Green CO has 100,000, 6% $20 par value, cumulative preferred shares outstanding. Are 2 years in arrears, what is the total amount of dividends that should go to preferred shareholders in the current year? a) 120,000 b) 240,000 c) 360,000 d) 12,000 e) 18,000 21. Which of the following is true a) Paid-in capital refers to the various accounts that represent the total amount of cash and other assets paid into the corporation by stockholders b) Retained eaming is all the cash a company has kept (retained) c) When a company receives cash from an investor in exchange for ownership, retained carnings increases. d) Dividends increase retained earnings 22. R& Co. has the following account information after all transactions have been recorded and posted: Accounts Receivable $37,800 Bad Debt Expense: $5,800 Allowance for Doubt Accounts $6,100 What is the cash realizable value of accounts receivable? a) 37,800 b) 31,700 c) 32,000 d) 25.900 23. Which of the following is false regarding FASB's conceptual framework? a) Cost is a pervasive constraint to financial reporting b) Financial information should help users make predictions about the future c) Providing certain information to users can involve more time and effort than the information is worth. d) A user of financial information should be profitable

Answer 1

AC AD AE д A 37 Answer Explanation 38 39 SEC makes it mandatory for b: 10-Ks found on SEC's website but annual companies to provide its 10K and the 19 report is found on the company's website same is uploaded on SECs website 20 c: 360,000 6% * 20 * 100,000*3 = 360,000 21 a: Paid in capital refers to the various accounts... Self explanatory 22 b: 31,700 37,800 - 6,100 = 31,700 d: A user of fianncial information should be 23 profitable Self explanatory 40 41 42 43 44 45