ACCOUNTING Additional Requirements Level of Detail: Only answer needed Other Requirements: please…


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ACCOUNTING Additional Requirements Level of Detail: Only answer needed Other Requirements: please… 1 answer below » ACCOUNTING Additional Requirements Level of Detail: Only answer needed Other Requirements: please answer these questions carefully. the questions that i couldn’t answer is 17 and i am giving you $25 for these questions hiring than the first one. please make sure to read it carefully and answer it with quality work. Document Preview: Question 3 1 points Save
The balance sheets at the end of each of the first two years of operations indicate the following:
2011 2010 View complete question » ACCOUNTING Additional Requirements Level of Detail: Only answer needed Other Requirements: please answer these questions carefully. the questions that i couldn’t answer is 17 and i am giving you $25 for these questions hiring than the first one. please make sure to read it carefully and answer it with quality work. Document Preview: Question 3 1 points Save
The balance sheets at the end of each of the first two years of operations indicate the following:
2011 2010
Total current assets $600,000 $560,000
Total investments 60,000 40,000
Total property, plant, and equipment 900,000 700,000
Total current liabilities 125,000 80,000
Total long-term liabilities 350,000 250,000
Preferred 9% stock, $100 par 100,000 100,000
Common stock, $10 par 600,000600,000
Paid-in capital in excess of par–common stock 60,000 60,000
Retained earnings 325,000 210,000
If net income is $130,000 and interest expense is $40,000 for 2011, what is the rate earned on stockholders’ equity for 2011 (rounded to one decimal place)?
12.0%
12.7%
13.2%
16.5%
Question 6 1 points Save
A company’s assets are comprised of the following: Cash, $25,000; Receivables, $5,600; Marketable Securities, $7,200; and Equipment, $65,000. The total of quick assets is $37,800.
True
False
Question 8 1 points Save
The independent auditor’s report does which of the following?
Describes which financial statements are covered by the audit
Gives the auditor’s opinion regarding the fairness of the financial statements
Summarizes what the auditor did
States that the financial statements are truthful
Question 10 1 points Save
Washington Corporation has the following financial data for 2011 and 2010.
2011 2010
ASSETS
Current Assets:
Cash 37,000 9,000
Marketable Securities 8,000 11,000
Accounts Receivable 32,000 25,000
Other Current Assets 13,000 10,000
Total Current Assets 90,000 55,000
Fixed Assets (net) 135,000 120,000
TOTAL ASSETS 225,000 175,000

LIABILITIES
Current Liabilities 71,000 40,000
Long-term Liabilities 34,000 35,000
TOTAL LIABILITIES 105,000 75,000

TOTAL STOCKHOLDERS’ EQUITY 120,000 100,000

TOTAL LIABILITIES AND STOCKHOLDERS’… Attachments: Q-Attachment…..docx View less » Aug 01 2015 05:40 PM

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