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ent Multiple Choice Question 49 Sheffield Company acquires 61,9%, 5 year, $1000 Community bonds on January...
Multiple Choice Question 86 Sheffield Corp. produces flash drives for computers, which it sells for $25...
Multiple Choice Question 86 Sheffield Corp. produces flash drives for computers, which it sells for $25 each. Each flash drive costs $12 of variable costs to make. During April, 1000 drives were sold. Fixed costs for April were $1000. How much is the contribution margin ratio? . 5296 60% 56% Click if you would like to Show Work for this question: Qren Show Work
Testbank Multiple Choice Question 63 Marigold Corp. issues $4920000, 4%, 5-year bonds dated January 1, 2020...
Testbank Multiple Choice Question 63 Marigold Corp. issues $4920000, 4%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 3%. What are the proceeds from the bond issue? Present value of a single sum for 5 periods Present value of a single sum for 10 periods Present value of an annuity for 5 periods Present value of an annuity for 10 periods...
Multiple Choice Question 70 Carla Vista Company purchased $1250000 of 10% bonds of Scott Company on...
Multiple Choice Question 70 Carla Vista Company purchased $1250000 of 10% bonds of Scott Company on January 1, 2018, paying $1170375. The bonds mature January 1, 2028; interest is payable each July 1 and January 1. The discount of $54625 provides an effective yield of 11 Carla Vista Company uses the effective interest method and plans to hold these bonds to maturity For the year ended December 31, 2018, Carla Vista Company should report interest revenue from the Scott Company...
Multiple Choice Question 69 Sheridan Company purchased $1150000 of 9 bends of Scott Company on January...
Multiple Choice Question 69 Sheridan Company purchased $1150000 of 9 bends of Scott Company on January 1, 2018 paying $1074375. The bonds mature January 1, 2028; interest is payable each July 1 and January 1 The discount of $75625 provides an effective yield of 104. Sheridan Company uses the effective interest method and plans to hold these bonds to maturity On July 1, 2018, Sheridan Company should increase its Debt Investments account for the Scott Company bonds by $1969 $3938...
Multiple Choice Question 62 On January 1, 2017, Sheffield Corp. issued eight-year bonds with a face...
Multiple Choice Question 62 On January 1, 2017, Sheffield Corp. issued eight-year bonds with a face value of $6140000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are: 0.467 Present value of 1 for 8 periods at 10% Present value of 1 for 8 periods at 12% Present value of 1 for 16 periods at 5% Present value of 1 for 16 periods at...
Multiple Choice Question 107 Sheffield Corporation issues 10100 shares of $50 par value preferred stock for...
Multiple Choice Question 107 Sheffield Corporation issues 10100 shares of $50 par value preferred stock for cash at $75 per share. The entry to record the transaction wil consist of a debit to Cash for $757500 and a credit or credits to Preferred Stock for $505000 and Paid-in Capital in Excess of Par-Preferred Stock for $252500 Preferred Stock for $252500 and Paid-in Capital from Preferred Stock for $505000 Preferred Stock for $757500 Paid-in Capital from Preferred Stock for $757500 Click...
Multiple Choice Question 95 Oriole Company gives you the following information pertaining to the year 2017....
Multiple Choice Question 95 Oriole Company gives you the following information pertaining to the year 2017. Net sales Cost of goods sold Current assets Current liabilities Average total assets Total liabilities Net income $805000 513000 529000 234000 1150000 560000 133000 The asset turnover ratio of Oriole Company is O 0.12. O 0.70. O 0.45. O 1.43. Click if you would like to Show Work for this question: Open Show Work Multiple Choice Question 96 Oriole Company gives you the following...
Multiple Choice Question 89 For the year ended December 31, 2017, Cullumber Company reported the following:...
Multiple Choice Question 89 For the year ended December 31, 2017, Cullumber Company reported the following: Net Income $286200 Preferred dividends declared 48000 Common dividend declared 10400 Unrealized holding loss, net of tax 4500 Retained earnings, beginning balance 401000 Common stock 199200 Accumulated Other Comprehensive Income, Beginning Balance 24300 What would Cullumber report as total stockholders' equity? $628800 $600200 $847800 $828000 Click if you would like to show Work for this question: Open Show Work
Multiple Choice Question 98 Oriole Company had 803000 shares of common stock outstanding on January 1,...
Multiple Choice Question 98 Oriole Company had 803000 shares of common stock outstanding on January 1, issued 129000 shares on May 1, purchased 66000 shares of treasury stock on September 1, and issued 60000 shares on November 1. The weighted average shares outstanding for the year is 899000 855000 921000 877000 Click if you would like to show Work for this question Open Show Work
Multiple Choice Question 122 Sheffield Company purchased equipment for $48600 on January 1, 2018. The company...
Multiple Choice Question 122 Sheffield Company purchased equipment for $48600 on January 1, 2018. The company expects to use the equipment for 3 years. It has no salvage value. Monthly depreciation expense on the asset is $1350 0 $0 $16200 $45600 Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER
Multiple Choice Question 86 Sheffield Corp. produces flash drives for computers, which it sells for $25 each. Each flash drive costs $12 of variable costs to make. During April, 1000 drives were sold. Fixed costs for April were $1000. How much is the contribution margin ratio? . 5296 60% 56% Click if you would like to Show Work for this question: Qren Show Work
Testbank Multiple Choice Question 63 Marigold Corp. issues $4920000, 4%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 3%. What are the proceeds from the bond issue? Present value of a single sum for 5 periods Present value of a single sum for 10 periods Present value of an annuity for 5 periods Present value of an annuity for 10 periods...
Multiple Choice Question 70 Carla Vista Company purchased $1250000 of 10% bonds of Scott Company on January 1, 2018, paying $1170375. The bonds mature January 1, 2028; interest is payable each July 1 and January 1. The discount of $54625 provides an effective yield of 11 Carla Vista Company uses the effective interest method and plans to hold these bonds to maturity For the year ended December 31, 2018, Carla Vista Company should report interest revenue from the Scott Company...
Multiple Choice Question 69 Sheridan Company purchased $1150000 of 9 bends of Scott Company on January 1, 2018 paying $1074375. The bonds mature January 1, 2028; interest is payable each July 1 and January 1 The discount of $75625 provides an effective yield of 104. Sheridan Company uses the effective interest method and plans to hold these bonds to maturity On July 1, 2018, Sheridan Company should increase its Debt Investments account for the Scott Company bonds by $1969 $3938...
Multiple Choice Question 62 On January 1, 2017, Sheffield Corp. issued eight-year bonds with a face value of $6140000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are: 0.467 Present value of 1 for 8 periods at 10% Present value of 1 for 8 periods at 12% Present value of 1 for 16 periods at 5% Present value of 1 for 16 periods at...
Multiple Choice Question 107 Sheffield Corporation issues 10100 shares of $50 par value preferred stock for cash at $75 per share. The entry to record the transaction wil consist of a debit to Cash for $757500 and a credit or credits to Preferred Stock for $505000 and Paid-in Capital in Excess of Par-Preferred Stock for $252500 Preferred Stock for $252500 and Paid-in Capital from Preferred Stock for $505000 Preferred Stock for $757500 Paid-in Capital from Preferred Stock for $757500 Click...
Multiple Choice Question 95 Oriole Company gives you the following information pertaining to the year 2017. Net sales Cost of goods sold Current assets Current liabilities Average total assets Total liabilities Net income $805000 513000 529000 234000 1150000 560000 133000 The asset turnover ratio of Oriole Company is O 0.12. O 0.70. O 0.45. O 1.43. Click if you would like to Show Work for this question: Open Show Work Multiple Choice Question 96 Oriole Company gives you the following...
Multiple Choice Question 89 For the year ended December 31, 2017, Cullumber Company reported the following: Net Income $286200 Preferred dividends declared 48000 Common dividend declared 10400 Unrealized holding loss, net of tax 4500 Retained earnings, beginning balance 401000 Common stock 199200 Accumulated Other Comprehensive Income, Beginning Balance 24300 What would Cullumber report as total stockholders' equity? $628800 $600200 $847800 $828000 Click if you would like to show Work for this question: Open Show Work
Multiple Choice Question 98 Oriole Company had 803000 shares of common stock outstanding on January 1, issued 129000 shares on May 1, purchased 66000 shares of treasury stock on September 1, and issued 60000 shares on November 1. The weighted average shares outstanding for the year is 899000 855000 921000 877000 Click if you would like to show Work for this question Open Show Work
Multiple Choice Question 122 Sheffield Company purchased equipment for $48600 on January 1, 2018. The company expects to use the equipment for 3 years. It has no salvage value. Monthly depreciation expense on the asset is $1350 0 $0 $16200 $45600 Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER
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