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题 直 公开 部 应 金融词
Part
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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题 直 公开 部 应 金融词
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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Part
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
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