Accounting

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Calculation Of Fixed Charge Coverage

Question A firm has operating profit of $210,000 after deducting lease payments of $30,000. Interest expense is $50,000. What is the firm's fixed charge coverage?  a). 6.00x b). 2.33x c). 2.00x d). 3.00x   Summary The question belongs to Accounting and it discusses about calculatio ... Read More

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Calculation Of Debt To Total Asset Ratio

Question A firm has total assets of $3,000,000. It has $1,200,000 in long-term debt. The stockholders equity is $1,000,000. What is the debt to total asset ratio?  a). 45% b). 75% c). 55% d). 67%   Summary The question belongs to Accounting and it discusses about calculation of deb ... Read More

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When Accounts Receivable Turnover Increases What Happens To Average Collection Period

Question If the company's accounts receivable turnover is increasing, the average collection period:  a). is going up slightly b). is going down c). could be moving in either direction d). is going up by a significant amount   Summary The question belongs to Accounting and it discu ... Read More

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Explain The Effect Of Historical Cost Based Depreciation If There Is Inflation

Question Historical cost based depreciation tends to _________ when there is inflation.  a). lower taxes b). decrease profits c). increase profits d). increase assets   Summary The question belongs to Accounting and it discusses about the effect of historical cost based depreciatio ... Read More

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Calculation Of Expected Value Of Sales Projection

Question Depending upon the state of the economy, Ables Manufacturing Corp. expects to sell the following number of prefabricated buildings. The probability of each state is indicated. What is the expected value of the total sales projection? Outcome Probability Units Price ... Read More

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Calculation Of Loan Repayment By A Company

Question GS Cookie Co. forecasts cash receipts for January and February of $18,000 and $20,000, respectively. Cash Payments of $6,000 and $8,000 are expected in these two months. GS Cookie's cash balance at the beginning of January was $5,000, a level that it attempts to maintain. At the beginning ... Read More

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What Equals Cumulative Cash Balance In A Cash Budget

Question In a cash budget, the cumulative cash balance is equal to:  a). net cash flow minus the beginning cash balance b). net cash flow plus the beginning cash balance c). cumulative loan balance minus the ending cash balance d). cumulative loan balance plus the ending cash balance &nbs ... Read More

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What Increases Notes Payable In Pro Forma Balance Sheet

Question Which of the following is most likely to increase the final number for notes payable in the pro forma balance sheet?  a). Decrease in inventory b). Increase in retained earnings c). Decrease in accounts payable d). Decrease in accounts receivable   Summary The question bel ... Read More

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What Happens For Increase In Dividends In Percent Of Sales Method

Question In the percent-of-sales method, an increase in dividends  a). will increase required new funds b). will decrease required new funds c). has no effect on required new funds d). more information is needed   Summary The question belongs to Accounting and it discusses about wh ... Read More

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What Happens When Inventory Turnover Rate Is Increased

Question Firms that successfully increase their rates of inventory turnover will, among other things,  a). be able to reduce their borrowing needs b). be able to reduce their dividend payments to stockholders c). find it more difficult to be given credit by their resource suppliers d). hav ... Read More

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Calculation Of Accounts Receivable At The End Of Month

Question If the actual December 31st A/R balance was $12,000; projected sales in March are $50,000; 70% of sales are on credit; 60% of credit sales are collected in the month of sale and 40% are collected in the month after the sale, what is the projected A/R balance on the pro forma balance sheet ... Read More

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Prepare Journal Entries For Sale Of Land

Question HMD Corporation entered into the following transactions during the year 2010: 1. The company sold land having a fair market value of $700,000 in exchange for a four year non-interest bearing promissory note in ‘he face amount of $1,101,460. The land is carried on EMD Corporation's b ... Read More

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