Math - Others Questions

You are considering purchasing a dump truck The truck will cost 74 000 and have operating and maintenance cos that start at 15 000 the first year and increases by 1 000 per year Assume that the salvage value at the end of fiv years is 17 000 and interest rate is 15 What is the equivalent annual cost of owning and operating the truck for five years Click the icon to view the interest factors for discrete compounding when i 15 per year The equivalent annual cost of owning and operating the truck is Round to the nearest dollar

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Hamada invests 20 000 at 8 annual interest leaving the money invested without withdrawing any of the interest for 8 years At the end of the E years Hamada withdraws the accumulated amount of money the amount of interest assuming the investment earns simple interest is O a 37 018 60 O b 12 800 c 32 800 O d 7 200 Clear my choice

For Randa Company the following information is available Capitalized leases 560 000 Copyrights 240 000 Long term receivables 210 000 In Randa s balance sheet intangible assets should be reported at O a 210 000 O b 240 000 O c 770 000 d 800 000 Clear my choice

Mike McKinney Corporation had accounts receivable of 100 000 at 1 1 The only transactions affecting accounts receivable were sales of 600 0 and cash collections of 550 000 The accounts receivable turnover is a 6 0 b 4 4 C 4 8 d 4 0

Sally will invest 8 000 a year for 20 years in a fund that will earn 6 annual interest If the first payment occurs at year end what amount will be in the fund in 20 years O a 294 284 72 O b 311 941 81 O c 310 942 35 O d 277 627 10

If a company employs the gross method of recording accounts receivable from customers then sales discounts taken should be reported as O a a deduction from accounts receivable in determining the net realizable value of accounts receivable O b an item of other expense in the income statement C a deduction from sales in the income statement O d sales discounts forfeited in the cost of goods sold section of the income statement Clear my choice

Mike McKinney Corporation had accounts receivable of 100 000 at 1 1 The only transactions affecting accounts receivable were sales of 600 000 and cash collections of 550 000 The accounts receivable turnover is O a 6 0 O b 4 4 O c 4 8 O d 4 0

Noor Corporation reports the following information Net income 750 000 Dividends on common stock 210 000 Dividends on preferred stock 90 000 and Weighted average common shares outstanding 200 000 Noor should report earnings per share of a 3 30 O b 3 75 O c 2 25 O d 2 70 Clear my choice

Not yet answered Marked out Sally will invest 8 000 a year for 20 years in a fund that will earn 6 annual interest If the first payment into the fund occurs today what amount will be in the fund in 20 years O a 310 942 35 O b 311 941 81 O c 294 284 72 O d 277 627 10 Next pag

The effect of collection of accounts receivable on a statement of cash flows is O a Cash provided used by financing activities O b Not a cash flow C Cash provided used by investing activities d Cash provided used by operating activities Clear my choice

Answer saved Marked out of 1 00 The net income of Bright corporation during 2020 was 500 000 The corporation had 100 000 shares of common stock authorized and 50 000 shares issued and outstanding during 2020 The earnings per share is a 10 per share O b 0 10 per share Oc 5 per share O d 0 20 per share Clear my choice

Lara Corporation reports Cash provided by operating activities 320 000 Cash used by investing activities 110 000 Cash provided by financing activities 140 000 and Beginning cash balance 90 000 What is Lara s ending cash balance O a 660 000 O b 410 000 O c 570 000 Od 440 000 Clear my choice P Flag question Previous page Next page 1 8 15 22 29 2 50 9 3 10 16 17 23 24 30 31 36 37 38 43 44 45 Finish attempt

F Fla Jaser Company will invest 300 000 today The investment will earn 6 for 5 years compound interest with no funds withdrawn In 5 year compound interest the amount in the investment fund is O a 300 000 O b 402 087 O c 401 468 O d 390 000

Mansour company sold toys listed at 360 per unit to Salam company on account a trade discount of 15 Salam should record the accou payable per unit at O a 360 O b 335 O c 285 O d 306 Clear my choice

The total sales of National company to its customers last year amounted to 15 720 000 sales returns and allowances were 370 000 sales discounts were 175 000 and freight outwas 140 000 Net sales last year for National Company were O a 15 720 000 Ob 15 175 000 O c 15 035 000 O d 15 350 000

Sandler Company has the following account balances at year end Accounts receivable 80 000 Allowance for doubtful accounts 4 800 and Sale discounts 3 200 Sandler should report accounts receivable at a net amount of O a 75 200 O b 80 000 O c 72 000 O d 76 800

Alpha Corporation reports the following information Net income 500 000 Dividends on preferred stock 60 000 and Weighted average commor shares outstanding 200 000 Alpha should report earnings per share of Oa 1 80 O b 2 20 O c 1 50 O d 2 50

Question 38 Answer saved Marked out of 1 00 Which of the following is not a major challenge facing the accounting profession a Forward looking information O b Timeliness O c Nonfinancial measurements d Accounting for hard assets Clear my choice Previous page

F Flag question A trial balance before adjustments included the following Sales 425 000 credit Sales returns and allowance 14 000 debit Accounts receivable 43 000 debit and Allowance for doubtful accounts 760 credit If the estimate of uncollectible is made by taking 10 of gross account receivables the amount of the adjustment is O a 4 300 O b 3 540 O c 4 224 O d 5 060

PFlag question Haya wants to withdraw 30 000 each year for 10 years from a fund that earns 8 interest How much must she invest today if the first withdrawa takes place immediately O a 234 799 16 O b 201 302 44 O c 217 406 63 O d 298 712 25

Hamada invests 20 000 at 8 annual interest leaving the money invested without withdrawing any of the interest for 8 years At the end of th years Hamada withdraws the accumulated amount of money the amount of interest assuming the investment earns simple interest is O a 37 018 60 O b 12 800 O c 32 800 O d 7 200

1 2 2024 Gaza company sold merchandise inventory of 50 000 to Jenin company terms 2 10 n 30 and on 11 2 2024 Gaza company received the amount for merchandise inventory sold The journal entry on 15 2 2024 under gross method is O a Cash debit 50 000and Accounts receivable credit by same amount O b Accounts receivable debit 49 000and cash credit by same amount O c Cash debit 50 000and Accounts receivable credit 49 000 and sales discount forfeited credit 1 000 O d Accounts receivable debit 50 000and cash credit by same amount

Presented below is information related to Vienna Company at December 31 2020 the end of its first year of operations Sales revenue 500 000 Cost of goods sold 240 000 Selling and administrative expenses 60 000 and loss on sale of plant assets 15 000 Income from operations is 300 000 a O b 260 000 O c 185 000 O d 200 000

Financial information exhibits the characteristic of consistency when a a company applies the same accounting treatment to similar events from period to period Ob accounting procedures are adopted which give a consistent rate of net income O c extraordinary gains and losses are not included on the income statement O d expenses are reported as charges against revenue in the period in which they are paid

The process of identifying measuring analyzing and communicating financial information needed by management to plan evaluate and cont an organization s operations is called O a auditing O b financial accounting O C tax accounting O d managerial accounting

Which of the following is a fundamental quality of useful accounting information a Faithful representation b Comparability C Conservatism d Consistency

Jaser Company will invest 300 000 today The investment will earn 6 for 5 years simple interest with no funds withdrawn In 5 years the amount in the investment fund is O a 401 468 O b 402 087 O c 390 000 O d 300 000

Not yet answered Marked out of 1 00 Tamer needs 25 000 in 4 years What amount must he invest if his investment earns 12 annual interest compounded quarterly O a 20 222 65 O b 15 579 17 O c 19 524 36 O d 16 046 54

A truth value assignment that makes all the premises of an argument true and its conclusion false is called a 2 point

The balance sheet is useful for analyzing all of the following except a solvency b profitability c liquidity d financial flexibility Clear my choice

The effect of issuance of common stock for cash on a statement of cash flows is a Cash provided used by operating activities b Cash provided used by investing activities C Not a cash flow d Cash provided used by financing activities Clear my choice

Moon Corporation reports the following information Correction of understatement of depreciation expense in prior years net of tax 1 290 000 Dividends declared 960 000 Net income 3 000 000 and Retained earnings 1 1 20 as reported 6 000 000 Moon should report retained earnings 1 1 20 as adjusted at O a 9 330 000 O b 7 290 000 O c 4 710 000 O d 6 000 000

Superman invested 15 000 today in a fund that earns 8 compounded semiannually To what amount would the investment grow in 3 year Oa 20 407 33 b 18 979 78 Hag qu O c 17 496 O d 18 895 68

Flag question Ayman Inc made a 25 000 sale on account with the following terms 2 10 n 30 If the company uses the net method to record sales made on credit what is are the debit s in the journal entry to record the sale Oa Debit Accounts Receivable for 25 000 O b Debit Accounts Receivable for 25 000 and Sales Discounts for 500 Debit Accounts Receivable for 24 500 and Sales Discounts for 500 O d Debit Accounts Receivable for 24 500 C

Which of the following is an ingredient of faithful representation O a Confirmatory value O b Neutrality O c Predictive value O d Materiality

Poline Corporation reports the following information Net cash provided by operating activities 335 000 Average current liabilities 150 000 Average long term liabilities 100 000 Dividends paid 60 000m Capital expenditures 110 000 Payments of debt 35 000 Poline s free cash flow is O a 225 000 O b 275 000 Oc 165 000 O d 130 000

Peter Company reported the following information for 2020 Sales revenue 510 000 Cost of goods sold 350 000 Operating expenses 55 000 and Unrealized holding gain on available for sale securities 40 000 For 2020 Peter would report other comprehensive income of O a 135 000 O b 40 000 O c 42 000 O d 137 000

Hamada invests 20 000 at 8 annual interest leaving the money invested without withdrawing any of the interest for 8 years At the end of the years Hamada withdraws the accumulated amount of money the amount of interest assuming the investment earns compound interest is O a 32 800 O b 17 018 60 O c 12 800 O d 7 200

Hamilton Company has cash in bank of 10 000 restricted cash in a separate account of 3 000 and a bank overdraft in an account at another bank of 1 000 Hamilton should report cash of O a 9 000 O b 12 000 O c 10 000 O d 13 000

Preparing the statement of cash flows involves all of the following except determining the O a cash collections from customers during the period O b cash provided by operations O c cash provided by or used in investing and financing activities O d change in cash during the period

The trial balance before adjustment of Rima Company reports the following balances Accounts receivable 300 000 Allowance for doubtful accounts 5 000 debit Sales 1 700 000 and Sales returns and allowances 80 000 the entry for estimated bad debts assuming that doubtful accounts are estimated to be 6 of gross accounts receivable is O a Bad debts expense debit 18 000 and Allowance for doubtful account credit 18 000 O b Bad debts expense debit 13 000 and Allowance for doubtful account credit 13 000 O C Allowance for doubtful account debit 13 000 and Bad debts expense debit 13 000 O d Bad debts expense debit 23 000 and Allowance for doubtful account credit 23 000

Flag questio Ola Company has the following items common stock 950 000 treasury stock 105 000 deferred income taxes 125 000 and retained earning 454 000 What total amount should Ola Company report as stockholders equity Oa 1 549 000 O b 1 424 000 O c 1 299 000 O d 1 174 000

P Flag q A company issuing its annual financial reports within one month of the end of the year is an example of which enhancing quality of account information O a Verifiability O b Comparability O c Understandability O d Timeliness

What is the expectations gap O a The difference between what the public thinks the accountant should do and what Congress says the accountant should do b The difference between what the accountant should do and what the Courts say the accountant should be doing C The difference between what the public thinks the accountant should do and what the accountant thinks they can do O d The difference between what the public thinks the accountant should not do and what the accountant knows they should do Clear my choice

The basis for classifying assets as current or noncurrent is conversion to cash within O a the operating cycle or one year whichever is longer O b the operating cycle or one year whichever is shorter O c the accounting cycle or one year whichever is shorter O d the accounting cycle or one year whichever is longer Previous page

Taysir needs 25 000 in 4 years What amount must he invest today if his investment earns 12 compounded annually O a 15 887 95 O b 28 000 O c 39 337 98 O d 37 000

How many significant figures are there in the result of the calculation below 4 1 7 464 O 2 04 3

A student finds that the weight of an empty beaker is 16 600 g She places a solid in the beaker to give a combined mass of 16 629 g To how many significant figures is the mass of the solid known 3 02 01 n 5 W

The result of the following calculation has how many significant figures 0 4333 J g C 33 12 C 31 12 C 412 1 g 01 2 03