b 7900 c 12300 d 177400 Feedback Your answer is correct The correct answer is

B 7900 c 12300 d 177400 feedback your answer is

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b. $7,900 c. $12,300
d. $177,400 Feedback Your answer is correct. The correct answer is: $11,000 Question 8 Incorrect Mark 0.00 out of 10.00 Flag question Question text Based on the information below and considering that this company paid $322,500 in cash to its suppliers during the year, what is the company's cost of goods sold for 2015? 1/1/2015 12/31/2015 Inventory $23,400 $34,560 Accounts payable $354,000 $223,000 Select one: a. $180,340 b. $311,340 c. $322,500 d. $442,340 Feedback Your answer is incorrect. The correct answer is: $180,340
Question 9 Correct Mark 10.00 out of 10.00 Flag question Question text A business purchased merchandise for $15,000 on account; terms are 2/10, n/30. If $2,600 of the merchandise was returned and the remaining amount due was paid within the discount period, the purchase discount would be: Select one: a. $248 (15,000-2,600)*2%=$248 b. The right answer is not listed here. c. $52 d. $300 Feedback Your answer is correct. The correct answer is: $248 Question 10 Incorrect Mark 0.00 out of 10.00 Flag question Question text
On December 31, 2015, Sveva Inc. has total liabilities of $252,000 and total equity of $420,000. The company needs to raise additional funds through debt and equity. The company will issue 40,000 shares of common stock at $4.50 per share and in addition it intends to borrow as much as it can from Bank of Switzerville. Bank of Switzerville requires a maximum debt-to-asset ratio of 0.75. What is the maximum additional amount that Sveva can borrow after the additional stock is issued? Select one: a. $1,548,000 b. $1,236,000 c. $639,000 d. $852,000 Feedback Your answer is incorrect. The correct answer is: $1,548,000 Question 11 Partially correct Mark 4.00 out of 10.00 Flag question Question text
Below is selected financial information for Panettone, Inc. In the answer boxes below, select the right answer from the drop-down menu. Each answer is worth 2 points. Answers are rounded to two decimals. Ratio Answer Days Sales in Inventory Answer Average Collection Period Answer Dividend Payout Ratio Answer
Return on Sales Answer Current Ratio Answer Feedback Ratio Correct Answer Days Sales in Inventory 79.84 Average Collection Period 53.41 Dividend Payout Ratio 0.69 Return on Sales 0.12 Current Ratio 1.75 Question 12 Incorrect Mark 0.00 out of 10.00 Flag question Question text If a company has a current ratio below 1, which of the following transactions would cause the current ratio to increase? Select one: a. Purchasing land with cash
b. Collecting an account receivable c. Purchasing land by signing a short-term note d. Purchasing inventory by signing a long-term note Feedback Your answer is incorrect. The correct answer is: Purchasing inventory by signing a long-term note Question 13 Incorrect Mark 0.00 out of 10.00 Flag question Question text ABC Inc. sells socks. During January 2016, its inventory records for one brand of its socks were as follows: Quantity Price per pair Beginning Inventory 10 pairs $20 = $200 January 6 Purchase 4 pairs $25 = $100 January 10 Sale 5 pairs N/A January 15 Purchase 7 pairs $30 = $210 January 20 Sale 10 pairs N/A January 25 Purchase 4 pairs $30 = $120 See information above. Using this information, the cost of goods sold using the periodic average cost method is Select one: a. $265
b. $236 c. $358 d. $378 Feedback Your answer is incorrect.

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