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2 2 pts question 13 fess hardware store had net

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2 / 2 ptsQuestion 13Fess Hardware Store had net credit sales of $8,500,000 and cost ofgoods sold of $5,000,000 for the year. The Accounts Receivable balancesat the beginning and end of the year were $600,000 and $760,000,respectively. The accounts receivable turnover was7.4 times.5.9 times.11.2 times.12.5 times.
2 / 2 ptsQuestion 14The current assets of Myers Company are $250,000. The currentliabilities are $100,000. The current ratio expressed as a proportion is
11/4/21, 8:10 PMWeek 2 Quiz: ACCT20661ELBV212E - MANAGERIAL ACCOUNTING
8/10
0 / 2 ptsQuestion 15IncorrectIncorrectNord Company had $375,000 of current assets and $150,000 of currentliabilities before borrowing $70,000 from the bank with a 3-month notepayable. What effect did the borrowing transaction have on the amount ofNord Company's working capital?
2 / 2 ptsQuestion 16A successful grocery store would probably have
11/4/21, 8:10 PMWeek 2 Quiz: ACCT20661ELBV212E - MANAGERIAL ACCOUNTINGlow volume.2 / 2 ptsQuestion 17Blitzen Corporation had net income of $500,000 and paid dividends tocommon stockholders of $40,000 in 2020. The weighted average numberof shares outstanding in 2020 was 60,000 shares. Blitzen Corporation'scommon stock is selling for $50 per share on the New York StockExchange. Blitzen Corporation's payout ratio for 2020 is$8.33 per share.8%.12%.16%.
9/10
0 / 2 ptsQuestion 18IncorrectIncorrectMECHE Company reports income before income taxes of $2,500,000 andhad an extra-ordinary loss of $800,000. If the tax rate is 35%,
11/4/21, 8:10 PMWeek 2 Quiz: ACCT20661ELBV212E - MANAGERIAL ACCOUNTINGthe extraordinary loss will be reported at $280,000.0 / 2 ptsQuestion 19IncorrectIncorrectA loss on the write down of obsolete inventory should be reported as
10/10Quiz Score:32out of 40
2 / 2 ptsQuestion 20When performing vertical analysis, the base amount for administrative
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Fall
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Tags
Balance Sheet, Cash Flow Statement, Income Statement, Revenue, Expense, Generally Accepted Accounting Principles

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