ACCT FINAL

A technique for evaluating financial statements that express the relationship among selected items of financial data is

The current ratio is:

The entry made on January 1 to record the proceeds and issuance of the note is

When the effective-interest method is used, the interest expense for the period is calculated by multiplying the

The chief accounting officer in a corporation is the

From a creditors point of view, the higher total debt to total assets ratio, the lower the risk that the company my face

The account unearned subscription revenue

What is the amount of interest Herman must pay the bondholders in 2011?

par value

The current portion of long term debt should

The current ratio is a measure of all the ratios calculated for the current year

If common stock is issued for an amount greater than par value, the excess should be credited to

Which of the following is NOT true of a corporation

How much cash was provided by operating activities?

Stockholders are most interested in evaluating

If 2010 is the base year, what is the percentage increase in sales from 2010 to 2012

Inventory turnover for the year is

Another name for trend analysis is horizontal analysis

Sales taxes collected by a retailer are reported as

The entry to record the sale of the stock would include a

the entry to record the purchase of the Horton stock would include a

Variations among companies in the application of generally accepted accounting principles may reduce quality of earnings

The total cost of borrowing on a 10-year, 9%, $1,000 bond that sold for $960 is

the entry for the receipt of interest on July 1, 2011 is

The interest charged on a 100,000 note payable at 8% rate 90-day note would be

In accordance with the cost principle, brokerage fees should be added to the cost of an investment

In ratio analysis, the ratio are never expressed as a

Which of the following items is not generally used in preparing a statement of cash flows?

a reason some companies purchase investments is because they generate a significant portion of earnings from investments

Net cash provided by operating activities in 2011 using the indirect method was

The adjusting entry is

80,000 shares $10 par value C/S, a 10% stock dividend distributed. market value was $25. retained earnings change by:

If an investor owns between 20-50% of investee's common stock it is presumed that the investor has significant influence

financing activities involve

the entry for the receipt of interest on Jan 1, 2012 is

Vertical analysis is useful in making comparisons of companies of different sizes

A current liability is a debt that can reasonably be expected to be paid

Using vertical analysis, what percentage is assigned to cost of goods sold?

corporations invest excess cash for short periods of time in each of the following except

a note payable is in the form of

The dominant form of business organization in the US in terms of dollar sales, volume, earnings, and employees is

Cash equivalents do not include

A corporation purchases 20,000 shares of its own 10$ par common stock for 25$ per share What will be affect on equity

If bonds payable are issued at a discount, the contractual interest rate is

What is the entry to record the cash proceeds at the time the bond is sold?

900,000 shares of C/S authorized, 750,000 issued, 30,000 treasury stock, the ledger of C/S, $1 par value has balance of

Intracompany comparisons of same financial statement can often detect changes in financial relationships & trends

preferred stock would least likely have which characteristic?

Debt investments are investments in government and corporation bonds

If a company has sales of $110 in 2014 and $154 in 2015, the percentage increase in sales from 2014 to 2015 is 140%

significant non cash transactions would not include

The primary purpose of the statement of cash flow is to

If Vickers Company issues 4,000 shares of $5 par common stock for $140,000

investing activities include

The return on common stockholder's equity for 2011 is

What is the adjusting entry required if the company prepares financial statements on June 30?

Which one of the following would NOT be considered an advantage of the corporate form of organization?

the average number of days in inventory during the year was

The order of presentation of activities on the statement of cash flows is

A $2,000,000 bond w/ carrying value of $2,080,000 is called at 103 and retired. Which of the following is true?

Based on the data, how many shares of common stock have been issued

What entry will be made to pay off note and interest at maturity assuming that interest has been accrued to September 30

Stockholders of a corporation directly elect

The acquisition of treasury stock by corporation

advances from customers are classified as a(n)

Which of the following characteristics does not apply to cash equivalents

Which of the following is not a characteristic generally evaluated in analyzing financial statements?

The entry to record the purchase of the Horton stock would include a

1,500 shares of $25 par value @ $35 per share, reissues 500 shares at $40 per share. Reissue entry would include credit: