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练习与模 知识点选题30

1

ToshEnterprisesreportedthefollowingaccount我Accounts 吐AccountsBondspayable,duein10Short-termprepaidInterestpayable,duein3 ThecurrentratioforToshEnterprises

A B C DABCD2

ToshEnterprisesreportedthefollowingaccountAccountsBondspayable,duein10Short-termprepaidInterestpayable,duein3 WhatisToshEnterprises’quick(acidtest)ABCDABCD3

ToshEnterprisesreportedthefollowingaccountAccountsAccountsBondspayable,duein10Short-termprepaidInterestpayable,duein3 ToshEnterprises’amountofworkingcapitalABCDABCD4 AfinancialanalysthasobtainedthefollowingdatafromKrytonIndustries’financial $Marketable Accountsreceivable, Prepaid Totalcurrent eAccruedCurrentportionlong-termTotalcurrentInordertodetermineKryton’sabilitytopaycurrentobligations,thefinancialanalystwouldcalculateKryton’scashABCDABCD5 Givenanacidtestratioof2.0,currentassetsof$5,000,andinventoryof$2,000,thevalueofcurrentliabilities66FactPattern:TheselecteddatapertaintoTilghmanCompanyatDecemberQuickassetsCurrentratioNetsalesfortheyearCostofsalesfortheyearAveragetotalassetsfor2.6to3.5toTilghmanCompany’scurrentliabilitiesatDecember317FactPattern:TheselecteddatapertaintoTilghmanCompanyatDecemberQuick A B C DABCDABCDABCDAcidtestratioCurrentratioNetsalesfortheyearCostofsalesfortheyearAveragetotalassetsfor

2.6to3.5to TilghmanCompany’sinventorybalanceatDecember31A.B.C.D.ABCDABCD8 ThefollowingfinancialinformationappliestoSycamore$MarketableAccountsPrepaidAccountsLong-termdebt--current

Whatistheacidtest(orquick)ratioforA.B.C.D.ABCDABCD9

FactPattern:TheinformationbelowpertainstoDevlinStatementofFinancialPositionasofMay31(inthousands)

eStatementfortheyearendedMay31(in

Year2Year

Net

Year2Year CurrentCostsand$$CostsofgoodsTradingSelling,general,Accountsreceivable89Prepaidebefore$$eTotalcurrentNet$$Property,plant,andequipmentIntangibleassetsCurrentNotes$$AccountsAccrued54etaxesTotalcurrent$Long-termDeferred32Preferredstock,6%,$100par Commonstock,$10parAdditionalpaid-incapital--RetainedTotalliabilitiesand DevlinCompany’sacidtestratioatMay31,Year2,A.0.60toB.0.90toC.1.14toD.1.86toABCDABCD10

FactPattern:TheStatementofFinancialPositionforKingProductsCorporationforthefiscalyearsendedJune30,Year2,andJune30,Year1,ispresentedbelow.NetsalesandcostofgoodssoldfortheyearendedJune30,Year2,were$600,000and$440,000,respectively.KingProductsCorporationStatementofFinancialPosition(inthousands)

JuneYearYear $Marketablesecurities(atAccountsreceivableInventories(atlowerofcostorPrepaidTotalcurrent$Land(at$BuildingEquipmentGoodwillTotallong-term$Notes $AccountsAccruedTotalcurrent$Notespayable,10%due12/31/Year $Bondspayable,12%due6/30/YearTotallong-term $$Preferredstock--5%cumulative,$100par,authorized,issuedandoutstanding,2,000$Commonstock--$10par,40,000shares30,000sharesissuedandAdditionalpaid-incapital--Retained$Totalliabilities& KingProductsCorporation’squick(acidtest)ratioatJune30,Year2,A.B.C.D.ABCDABCD11

FactPattern:ThedatapresentedbelowshowactualfiguresforselectedaccountsofMcKeonCompanyforthefiscalyearendedMay31,Year1,andselectedbudgetfiguresfortheYear2fiscalyear.McKeon’scontrollerisintheprocessofreviewingtheYear2budgetandcalculatingsomekeyratiosbasedonthebudget.McKeonCompanymonitorsyieldorreturnratiosusingtheaveragefinancialpositionofthecompany.(RoundallcalculationstothreedecimalplacesifCurrentNoncurrentCurrentLong-termCommonstock($30parRetainedYearCostofgoodsetaxes(40%DividendsdeclaredandpaidYearAdministrative*AllsalesarecreditCurrent5/31/Year$AccountsPrepaid McKeonCompany’scurrentratioforYear2A.B.C.D.ABCDABCD12 Aservicecompany’sworkingcapitalatthebeginningofJanuaryofthecurrentyearwas$70,000.ThefollowingtransactionsoccurredduringJanuary:PerformedservicesonPurchasedsuppliesonConsumedPurchasedofficeequipmentforPaidshort-termbankPaidAccruedWhatistheamountofworkingcapitalattheendofA.B.B.C.D.13CPZEnterpriseshadthefollowingaccountAccountspayableBondspayable,duein10yearsInterestpayable,duein3monthsNotespayable,duein6PrepaidThecompanyhasanoperatingcycleof5ThecurrentratioforCPZEnterprises A B C DABCDD.D.14CPZEnterpriseshadthefollowingaccountAccountspayableBondspayable,duein10Interestpayable,duein3monthsNotespayable,duein6PrepaidThecompanyhasanoperatingcycleof5WhatisCPZ’sacidtest(quick) A B C DABCD1515BeatnikCompanyhasacurrentratioof2.5andaquickratioof2.0.Ifthefirmexperienced$2millionincostofsalesandsustainsaninventoryturnoverof8.0,whatarethefirm’scurrentassets?16Lisa,StatementofFinancialPositionDecember31,Year2Year Year$$ A B C DABCDABCDABCDTradingAccountsreceivableInventories(atlowerofcostorPrepaidTotalcurrentLong-termSecurities(atProperty,plant,&Land(atBuildingEquipmentIntangibleGoodwillTotallong-termTotalLiabilities&Shareholders’CurrentNotes$$AccountsAccruedTotalcurrentLong-termNotespayable10%due12/31/YearBondspayable12%due12/31/YearTotallong-termTotal$Shareholders’Preferred--5%cumulative,$100non-participating,1,000sharesauthorized,issuedandoutstandingCommon--$10par20,000

authorized,15,000issuedoutstandingAdditionalpaid-incapital--RetainedTotalshareholders’Totalliabilities& Lisa,Inc.’sacidtest(quick)ratioatDecember31,Year2,ABCDABCD17

FactPattern:Acompanyhasacurrentratioof1.4,aquick,oracidtest,ratioof1.2,andthefollowingpartialsummarybalancesheet:Accounts

$Fixed Currentliabilities Long-term Stockholders’ Totalliabilitiesand ThecompanyhasanaccountsreceivablebalanceABCDABCD18

FactPattern:Acompanyhasacurrentratioof1.4,aquick,oracidtest,ratioof1.2,andthefollowingpartialbalance$Accounts Fixed Current Long-termStockholders’Totalliabilitiesand ThecompanyhasafixedassetsbalanceABCDABCDYearYearSales(allareCostofgoods$Sellingandadministrativeebeforeinterestandetaxes$$ebeforeetaxesetax$$Net$$RSTCorporationComparativeBalanceSheetsEndofYears5and6YearYearCurrent$$AccountsreceivableTotalcurrent$$NoncurrentLong-termProperty,plant,andLiabilitiesandStockholders’CurrentAccounts$$AccruedTotalcurrent$$Long-term0%Bondspayable,dueinYear$$Stockholders’Commonstock,2,400shares,$10$$RetainedTotalstockholders’$Totalliabilitiesandstockholders’ThemarketvalueofRST’scommonstockattheendofYearSixwas$100.00per RST’sacidtest(orquick)ratioattheendofYear62.40to2.40to2.18to2.00to1.50to20FactPattern:BroomallCorporationhasdecidedtoincludecertainfinancialratiosinitsyear-endannualreportshareholders.SelectedinformationrelatingtoitsmostrecentfiscalyearisprovidedAccounts–BeginningofEndofyearBeginningofEndofAvailable-for-saleHistoricalFairvalueatyearendAccountspayableNotespayable(duein90days)Bondspayable(duein10years)NetcreditsalesforyearCostofgoods$ A B C DABCDBroomall’sBroomall’sworkingcapitalatyearend21FactPattern:BroomallCorporationhasdecidedtoincludecertainfinancialratiosinitsyear-endannualreportshareholders.SelectedinformationrelatingtoitsmostrecentfiscalyearisprovidedAccounts–Beginningof–EndofPrepaid$BeginningofEndofAvailable-for-saleHistorical–FairvalueatyearendAccountspayableNotespayable(duein90Bondspayable(duein10 A B C DABCDNetcreditsalesforyearCostofgoodssold

Broomall’squick(acidtest)ratioatyearend2.00to1.925to1.80to1.05toABCDABCD22

FactPattern:ShownbelowarebeginningandendingbalancesforcertainofGrimaldi,Inc.’sJanuaryDecember$$MarketableAccountsreceivableProperty,plant,equipmentAccountsAccruedDeferred7%long-termbondsGrimaldi’snetefortheyearwas Grimaldi’sacidtestratioorquickratioattheendoftheyearABCDABCD23

FactPattern:ShownbelowarebeginningandendingbalancesforcertainofGrimaldi,Inc.’sJanuaryDecember$$MarketableAccountsreceivableProperty,plant,equipmentAccountsAccruedDeferred7%long-termbondsGrimaldi’snetefortheyearwas Grimaldi’scurrentratioattheendoftheyear24AllofthefollowingareincludedwhencalculatingtheacidtestratioSix-monthtreasuryPrepaidAccounts60-daycertificatesof25Acompany’scashratiowilldecreaseifthe A B C DABCDABCDABCDPurchasescommercialPurchasescommercialPurchasesmaterialsonSellsgoodsforcashatasellingpricelowerthanReceivescashbyissuingashort-termnote26Inanalyzingtheshort-termliquidityofafirm,manyanalystsprefertousethequick(oracidtest)ratioratherthancurrentratio.TheprimaryreasonforthispreferenceisthatQuickratioexcludesaccountCurrentratioincludesmarketablesecuritiesthatmaybePro-formacashflowstatementsfocusoncashConversionofinventoryintocashisless27Afirmhasgatheredfinancialstatementdatafromthreecompaniesapplyingforcreditasnewcustomers.The A B C DABCDABCDABCDextendscredittocustomersonthecreditterms2/10,net30.Priortoacceptingthecustomers,afinancialanalystwiththefirmperformsaliquidityanalysis.Summarydataisshownbelow:CompanyGH$$$AccountsCurrentTotalCurrentTotalTotalshareholders’Whenevaluatingtheliquidityofthethreepotentialcustomers,whichoneofthefollowingconclusionsisCompanyHhasthehighestcurrentratiobutthelowestacid-testratio,sothefirmshouldnotacceptCompanyHasanewcustomer.CompanyGhasalowdebttototalassetsratio,sothefirmshouldacceptCompanyGasanewCompanyFhasalowcurrentratio,sothefirmshouldnotacceptCompanyFasanewCompanyFhasahighlong-termdebttoequityratio,sothefirmshouldacceptCompanyFasanewABCDABCD28 Acorporationhas$90millionincurrentassets.Ifthecorporationhasacurrentratioof1.2andaquickratioof0.9,isnetworking$10$15$81$108ABCDABCD高顿网校用户

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Part

练习与模 知识点选题60

1

BondCorporationhasacurrentratioof2to1andaquickratio(acidtest)of1to1.ABond’squickratiobutnotitscurrentratioisSaleofinventoryonaccountatCollectionofaccountsPaymentofaccountsPurchaseofapatentfor

我要ouldn吐n A B C DABCD2

ToshEnterprisesreportedthefollowingaccountAccountsAccountsBondspayable,duein10Short-termprepaidInterestpayable,duein3 WhatwillhappentotheratiosbelowifToshEnterprisesusescashtopay25%oftheaccountsCurrent Quick ABCDABCD3 Rice,Inc.,usestheallowancemethodtoaccountforuncollectibleaccounts.AnaccountreceivablethatwaspreviouslydetermineduncollectibleandwrittenoffwascollectedduringMay.TheeffectofthecollectiononRice’scurrentratioandtotalworkingcapitalCurrent Working ABCDABCD4

FactPattern:DepooleCompanyisamanufacturerofindustrialproductsthatusesacalendaryearforfinancialreportingpurposes.Assumethattotalquickassetsexceededtotalcurrentliabilitiesbothbeforeandafterthetransactiondescribed.FurtherassumethatDepoolehaspositiveprofitsduringtheyearandacreditbalancethroughouttheyearinitsretainedearningsaccount. Depoole’spaymentofatradeaccountpayableof$64,500Increasethecurrentratio,butthequickratiowouldnotbeIncreasethequickratio,butthecurrentratiowouldnotbeIncreaseboththecurrentandquickDecreaseboththecurrentandquickABCDABCD5

FactPattern:DepooleCompanyisamanufacturerofindustrialproductsthatusesacalendaryearforfinancialreportingpurposes.Assumethattotalquickassetsexceededtotalcurrentliabilitiesbothbeforeandafterthetransactiondescribed.FurtherassumethatDepoolehaspositiveprofitsduringtheyearandacreditbalancethroughouttheyearinitsretainedearningsaccount. Depoole’spurchaseofrawmaterialsfor$85,000onopenaccountIncreasethecurrentDecreasethecurrentIncreasenetworkingDecreasenetworkingABCDABCD6

FactPattern:DepooleCompanyisamanufacturerofindustrialproductsthatusesacalendaryearforfinancialreportingpurposes.Assumethattotalquickassetsexceededtotalcurrentliabilitiesbothbeforeandafterthetransactiondescribed.FurtherassumethatDepoolehaspositiveprofitsduringtheyearandacreditbalancethroughouttheyearinitsretainedearningsaccount. Depoole’scollectionofacurrentaccountsreceivableof$29,000IncreasethecurrentDecreasethecurrentratioandthequickIncreasethequickNotaffectthecurrentorquickABCDABCD7

FactPattern:DepooleCompanyisamanufacturerofindustrialproductsthatusesacalendaryearforfinancialreportingpurposes.Assumethattotalquickassetsexceededtotalcurrentliabilitiesbothbeforeandafterthetransactiondescribed.FurtherassumethatDepoolehaspositiveprofitsduringtheyearandacreditbalancethroughouttheyearinitsretainedearningsaccount. Obsoleteinventoryof$125,000waswrittenoffbyDepooleduringtheyear.ThisDecreasedthequickIncreasedthequickIncreasednetworkingDecreasedthecurrentABCDABCD8

FactPattern:DepooleCompanyisamanufacturerofindustrialproductsthatusesacalendaryearforfinancialreportingpurposes.Assumethattotalquickassetsexceededtotalcurrentliabilitiesbothbeforeandafterthetransactiondescribed.FurtherassumethatDepoolehaspositiveprofitsduringtheyearandacreditbalancethroughouttheyearinitsretainedearningsaccount. Depoole’sissuanceofserialbondsinexchangeforanofficebuilding,withthefirstinstallmentofthebondsduelatethisyear,DecreasesnetworkingDecreasesthecurrentDecreasesthequickAffectsalloftheanswersasABCDABCD9

FactPattern:DepooleCompanyisamanufacturerofindustrialproductsthatusesacalendaryearforfinancialreportingpurposes.Assumethattotalquickassetsexceededtotalcurrentliabilitiesbothbeforeandafterthetransactiondescribed.FurtherassumethatDepoolehaspositiveprofitsduringtheyearandacreditbalancethroughouttheyearinitsretainedearningsaccount. Depoole’searlyliquidationofalong-termnotewithcashaffectsCurrentratiotoagreaterdegreethanthequickQuickratiotoagreaterdegreethanthecurrentCurrentandquickratiotothesameCurrentratiobutnotthequickABCDABCD10 WindhamCompanyhascurrentassetsof$400,000andcurrentliabilitiesof$500,000.WindhamCompany’sratiowillbeincreasedThepurchaseof$100,000ofinventoryonThepaymentof$100,000ofaccountsThecollectionof$100,000ofaccountsRefinancinga$100,000long-termloanwithshort-termABCDABCD11 PetersCompanyhasa2-to-1currentratio.Thisratiowouldincreasetomorethan2to1ApreviouslydeclaredstockdividendwereThecompanywroteoffanuncollectibleThecompanysoldmerchandiseonopenaccountthatearnedanormalgrossThecompanypurchasedinventoryonopenABCDABCD12 Merit,Inc.,usesthedirectwrite-offmethodtoaccountforuncollectibleaccountsreceivable.Ifthecompanysubsequentlycollectsanaccountreceivablethatwaswrittenoffinaprioraccountingperiod,theeffectofthecollectionoftheaccountreceivableonMerit’currentratioandtotalworkingcapitalwouldbeCurrent Working ABCDABCD13

FactPattern:ExcerptsfromthestatementoffinancialpositionforLandauCorporationasofSeptember30ofcurrentyeararepresentedas$AccountsreceivableTotalcurrentAccountsAccruedTotalcurrentTheboardofdirectorsofLandauCorporationmetonOctober4ofthecurrentyearanddeclaredtheregularcashdividendamountingto$750,000($.60pershare).ThedividendispayableonOctober25ofthecurrentyeartoallshareholdersofrecordasofOctober12ofthecurrentyear.AssumethattheonlytransactionstoaffectLandauCorporationduringOctoberofthecurrentyeararethedividendtransactionsandthattheclosingentrieshavebeen LandauCorporation’sworkingcapitalUnchangedbythedividenddeclarationanddecreasedbythedividendDecreasedbythedividenddeclarationandincreasedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendDecreasedbythedividenddeclarationandunchangedbythedividendABCDABCD14

FactPattern:ExcerptsfromthestatementoffinancialpositionforLandauCorporationasofSeptember30ofthecurrentyeararepresentedasfollows.$AccountsreceivableTotalcurrentAccountsAccruedTotalcurrentTheboardofdirectorsofLandauCorporationmetonOctober4ofthecurrentyearanddeclaredtheregularquarterlycashdividendamountingto$750,000($.60pershare).ThedividendispayableonOctober25ofthecurrentyeartoallshareholdersofrecordasofOctober12ofthecurrentyear.AssumethattheonlytransactionstoaffectLandauCorporationduringOctoberofthecurrentyeararethedividendtransactionsandthattheclosingentrieshavebeen LandauCorporation’scurrentratioDecreasedbythedividenddeclarationandincreasedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendDecreasedbythedividenddeclarationandunchangedbythedividendIncreasedbythedividenddeclarationandunchangedbythedividendABCDABCD15

FactPattern:ExcerptsfromthestatementoffinancialpositionforMarkhamCorporationasofApril30ofthecurrentyeararepresentedasfollows:$AccountsreceivableTotalcurrentAccruedTotalcurrentTheboardofdirectorsofMarkhammetonMay5ofthecurrentyearanddeclaredaquarterlycashdividendintheamountof$800,000($.50pershare).ThedividendwaspaidonMay28ofthecurrentyeartoshareholdersofrecordasofMay15ofthecurrentyear.AssumethattheonlytransactionsthataffectedMarkhamduringMayofthecurrentyearwerethedividendtransactionsandthattheclosingentrieshavebeenmade. Markham’sworkingcapitalwouldDecreasedbythedividenddeclarationandincreasedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendDecreasedbythedividenddeclarationandunchangedbythedividendIncreasedbythedividenddeclarationandunchangedbythedividendABCDABCD16

FactPattern:ExcerptsfromthestatementoffinancialpositionforMarkhamCorporationasofApril30oftheyeararepresentedas$AccountsreceivableTotalcurrentAccountsAccruedTotalcurrentTheboardofdirectorsofMarkhammetonMay5ofthecurrentyearanddeclaredaquarterlycashdividendintheamountof$800,000($.50pershare).ThedividendwaspaidonMay28ofthecurrentyeartoshareholdersofrecordasofMay15ofthecurrentyear.AssumethattheonlytransactionsthataffectedMarkhamduringMayofthecurrentyearwerethedividendtransactionsandthattheclosingentrieshavebeenmade. Markham’scurrentratiowouldDecreasedbythedividenddeclarationandincreasedbythedividendIncreasedbythedividenddeclarationandunchangedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendUnchangedbythedividenddeclarationanddecreasedbythedividendABCDABCD17 Thefollowingtransactionsoccurredduringacompany’sfirstyearofPurchasedadeliveryvanforBorrowedmoneybyissuanceofshort-termdebtPurchasedtreasurystockWhichoftheitemsabovecausedachangeintheamountofworkingIIandIIIandIIIABCDABCD18

CPZEnterpriseshadthefollowingaccountAccountsAccountsBondspayable,duein10Interestpayable,duein3Notespayable,duein6PrepaidThecompanyhasanoperatingcycleof5 WhatwillhappentotheratiosbelowifCPZEnterprisesusescashtopay50%oftheaccountsCurrent Quick ABCDABCD19

FactPattern:JensenCorporation’sboardofdirectorsmetonJune3anddeclaredaregularquarterlycashof$.40pershareforatotalvalueof$200,000.ThedividendispayableonJune24toallstockholdersofrecordasofJune17.ExcerptsfromthestatementoffinancialpositionforJensenCorporationasofMay31arepresentedas$AccountsreceivableTotalcurrentTotalcurrentAssumethattheonlytransactionstoaffectJensenCorporationduringJunearethedividend Jensen’sworkingcapitalwouldUnchangedbythedividenddeclarationanddecreasedbythedividendDecreasedbythedividenddeclarationandincreasedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendDecreasedbythedividenddeclarationandunchangedbythedividendABCDABCD20

FactPattern:JensenCorporation’sboardofdirectorsmetonJune3anddeclaredaregularquarterlycashdividendof$.40pershareforatotalvalueof$200,000.ThedividendispayableonJune24toallstockholdersofrecordasofJune17.ExcerptsfromthestatementoffinancialpositionforJensenCorporationasofMay31arepresentedasAccountsreceivable

$TotalcurrentTotalcurrentAssumethattheonlytransactionstoaffectJensenCorporationduringJunearethedividend Jensen’scurrentratiowouldUnchangedbythedividenddeclarationanddecreasedbythedividendDecreasedbythedividenddeclarationandincreasedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendDecreasedbythedividenddeclarationandunchangedbythedividendABCDABCD21

FactPattern:JensenCorporation’sboardofdirectorsmetonJune3anddeclaredaregularquarterlycashdividendof$.40pershareforatotalvalueof$200,000.ThedividendispayableonJune24toallstockholdersofrecordasofJune17.ExcerptsfromthestatementoffinancialpositionforJensenCorporationasofMay31arepresentedas$AccountsreceivableTotalcurrentTotalcurrentAssumethattheonlytransactionstoaffectJensenCorporationduringJunearethedividend Jensen’squick(acidtest)ratiowouldUnchangedbythedividenddeclarationanddecreasedbythedividendDecreasedbythedividenddeclarationandincreasedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendDecreasedbythedividenddeclarationandunchangedbythedividendABCDABCD22 AllofthefollowingareaffectedwhenmerchandiseispurchasedoncreditTotalcurrentNetworkingTotalcurrentCurrentABCDABCD23thefollowingcurrent$MarketableAccountsIfBirch’scurrentliabilitiesare$1,300,000,theCurrentratiowilldecreaseifapaymentof$100,000cashisusedtopay$100,000ofaccountsCurrentratiowillnotchangeifapaymentof$100,000cashisusedtopay$100,000ofaccountsQuickratiowilldecreaseifapaymentof$100,000cashisusedtopurchaseQuickratiowillnotchangeifapaymentof$100,000cashisusedtopurchaseABCDABCD24 DavisRetail,Inc.,hastotalassetsof$7,500,000andacurrentratioof2.3timesbeforepurchasing$750,000ofmerchandiseoncreditforresale.Afterthispurchase,thecurrentratiowillRemainat2.3Behigherthan2.3Belowerthan2.3Beexactly2.53ABCDABCD25 MarkowitzCompanyincreaseditsallowanceforuncollectibleaccounts.ThisadjustmentIncreasetheacidtestIncreaseworkingReducedebt-to-assetReducethecurrentABCDABCD26 GarstkaAutoPartsmustincreaseitsacidtestratioabovethecurrent0.9levelinordertocomplywiththetermsofaloanagreement.Whichoneofthefollowingactionsismostlikelytoproducethedesiredresults?ExpeditingcollectionofaccountsSellingautopartsonMakingapaymenttotradeaccountsPurchasingmarketablesecuritiesforABCDABCD27 Theownerofachainofgrocerystoreshasboughtalargesupplyofmangoesandpaidforthefruitwithcash.Thispurchasewilladverselyimpactwhichoneofthefollowing?WorkingCurrentQuickoracidtestPriceearningsABCDABCD28 BoththecurrentratioandthequickratioforSpartanCorporationhavebeenslowlydecreasing.Forthepasttwoyears,thecurrentratiohasbeen2.3-to-1and2.0-to-1.Duringthesametimeperiod,thequickratiohasdecreasedfrom1.2-to-1to1.0-to-1.Thedisparitybetweenthecurrentandquickratioscanbeexplainedbywhichoneofthefollowing?Thecurrentportionoflong-termdebthasbeensteadilyThecashbalanceisunusuallyTheaccountsreceivablebalancehasTheinventorybalanceisunusuallyABCDABCD29 TheacidtestratioshowstheabilityofacompanytopayitscurrentliabilitieswithouthavingReduceitscashBorrowadditionalCollectitsLiquidateitsABCDABCD30 Whenafixedassetissoldforlessthanbookvalue,whichoneofthefollowingwillTotalcurrentCurrentNetNetworkingABCDABCD31 Ifacompanyhasacurrentratioof2.1andpaysoffaportionofitsaccountspayablewithcash,thecurrentratioRemainMoveclosertothequickABCDABCD32 Clauson,Inc.,grantscredittermsof1/15,net30andprojectsgrosssalesfornextyearof$2,000,000.Thecreditmanagerestimatesthat40%oftheircustomerspayonthediscountdate,40%onthenetduedate,and20%pay15daysafterthenetduedate.Assuminguniformsalesanda360-dayyear,whatistheprojecteddays’salesoutstanding(roundedtothenearestwholeday)?20242730ABCDABCD33Acondensedcomparativebalancesheetacompanyappears12/31/Year $$ Property,plant,& Accumulated $$Current $$Long-term Stockholders’ Totalliabilitiesand $$Inlookingatliquidityratiosatbothbalancesheetdates,whathappenedtothe(1)currentratioand(2)acidtestCurrent

AcidTest ABCDABCD34 BirchProductsLtd.hasthefollowingcurrent€MarketableAccountsTotalcurrent€IfBirch’scurrentliabilitiesare€1,300,000,theCurrentratiowilldecreaseifapaymentof€100,000cashisusedtopay€100,000ofaccountsCurrentratiowillnotchangeifapaymentof€100,000isusedtopay€100,000ofaccountsAcid-test(quick)ratiowilldecreaseifapaymentof€100,000cashisusedtopurchaseAcid-test(quick)ratiowillnotchangeifapaymentof€100,000cashisusedtopurchase A B C DABCD高顿网高顿网如何观看网校学习学习学习卡网上支开通支付快捷支红包与优发票退换课问题商务合 AllianceLtd.has$80millionincurrentassets,comprisedof$30millionininventoryand$50millionincashandmarketablesecurities.Thecompany’scurrentliabilitiestotal$50million.IfAlliancepurchasesanadditional$10millionininventorywith$10millionincash,theeffectofthistransactiononthecompanywouldbetoDecreasethecurrentratioandincreasethequickDecreasethequickratiowhilethecurrentratioremainsLeaveboththecurrentratioandthequickratioDecreasethecurrentratioanddecreasethequickABCDABCD咨询热线咨询热线(9:00-微信扫一实时资讯全掌备Copyright©2006-2014AllRights

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练习与模 知识点选题60

1 CarsonCorporationcomputedthefollowingitemsfromitsfinancialrecordsforthecurrent 我吐

CurrentratioAccountsreceivableCurrentliabilities

2to542436

ThenumberofdaysinCarson’soperatingcycleforthecurrentyearABCDABCD2 Todeterminetheoperatingcycleforaretaildepartmentstore,whichoneofthefollowingpairsofitemsisDays’salesinaccountsreceivableandaveragemerchandiseCashturnoverandnetAccountsreceivableturnoverandinventoryAssetturnoverandreturnonABCDABCD3 AccountsreceivableturnoverratiowillnormallydecreaseasaresultThewrite-offofanuncollectibleaccount(assumetheuseoftheallowancefordoubtfulaccountsAsignificantsalesvolumedecreaseneartheendoftheaccountingAnincreaseincashsalesinproportiontocreditAchangeincreditpolicytolengthentheperiodforcashABCDABCD4 Whichoneofthefollowinginventorycostflowassumptionswillresultinahigherinventoryturnoverratioinaninflationaryeconomy?WeightedSpecificABCDABCD5 Thedays’salesinreceivablesratiowillbeunderstatediftheUsesanaturalbusinessyearforitsaccountingUsesacalendaryearforitsaccountingUsesaveragereceivablesintheratioDoesnotuseaveragereceivablesintheratioABCDABCD6 WhenabalancesheetamountisrelatedtoanestatementamountincomputingaThebalancesheetamountshouldbeconvertedtoanaveragefortheTheestatementamountshouldbeconvertedtoanaveragefortheBothamountsshouldbeconvertedtomarketComparisonswithindustryratiosarenotABCDABCD7

FactPattern:TheinformationbelowpertainstoDevlinStatementofFinancialPositionasofMay31(inthousands)

eStatementfortheyearendedMay31(inCurrentTradingAccountsreceivable

Year2Year$ $

NetCostsandCostsofgoodssoldSelling,general,and

Year2Year 89Prepaidebefore$$TotalcurrenteNet$$Property,plant,andequipmentIntangibleassetsCurrentNotes$$AccountsAccrued54etaxesTotalcurrent$Long-termDefer