Yes No c. No No d. No Yes 2. Under the temporal method, monetary assets and liabilities are translated by using the exchange rate existing at the: a. beginning of the current year. b. date the transaction occurred. c. balance sheet date. d. None of these.
c. When the balance is past due for more than 3 months. d. When a lawyer indicates that collection efforts would cost more than the account is worth. 2. How should unearned discounts, finance charges, and interest included in the face amount of installment accounts receivable be presented in the balance sheet? a.
| cash conversion cycle | b. | inventory conversion period | c. | receivables collection period | d. | payables deferral period | e. | days sales outstanding | 7. Firms following a restricted current asset
4) Which of the following would be considered a savings alternative? A. checking account B. a NOW account C. certificate of deposit D. a debit card 5) Which of the following formulas is used to calculate personal net worth? A. Total Assets + Total Debts B. Total Assets - Total Debts C. Total Debts - Total Assets D. Liabilities - Unpaid Bills 6) According to the text, how long should you keep utility bills?
A long-term debt maturing currently, which is to be paid with cash in a sinking fund b. A long-term debt maturing currently, which is to be retired with proceeds from a new debt issue c. A long-term debt maturing currently, which is to be converted into common stock d. None of these 16) A company borrows $10,000 and signs a 90-day nontrade note payable. In
What is the value of the shareholders' equity account for this firm? Shareholders' equity $_________ How much is net working capital? Net working capital $_________ FIN 571 complete paper here FIN 571 7. Shelton, Inc., has sales of $401,000, costs of $189,000, depreciation expense of
• debit to Allowance for Doubtful Accounts for $3,300. Multiple Choice Question 182 The financial statements of the Melton Manufacturing Company reports net sales of $300,000 and accounts receivable of $50,000 and $30,000 at the beginning of the year and end of year, respectively. What is the average collection period for accounts receivable in days? • 60.8 • 96.1 • 36.5 • 48.7 Find the final exam answers here ACC 291 Final Exam Answers Multiple Choice Question 119 Stine Company purchased machinery with a list price of $64,000. They were given a 10% discount by the manufacturer.
16--Statement Chapter of Cash Flows MULTIPLE CHOICE 1. Which of the following is not one of the four basic financial statements? a. balance sheet b. statement of cash flows c. statement of changes in financial position d. income statement ANS: C DIF: Easy 2. Which of the following concepts of cash is not appropriate to use in preparing the statement of cash flows? a. cash b. cash and money market funds c. cash and cash equivalents d. cash and U.S. treasury bonds ANS: D 3.
They use bond equivalent yields. 3. Why can discount yields not generally be compared to yields on other (nondiscount) securities? a. The discount yield uses the terminal price, or the security’s face value, as the base price in calculating an annualized interest rate.
Explain why The Longo Corporation’s cash flow from operations is substantially different than its operating profit/loss E3.19 Permanent versus Transitory Earnings. | | Year 3 | | Year 2 | | Year 1 | | | | | | | | Net income (as reported) | | 1,078 | | (35,866) | | (17,919) | Adjustments: | | | | | | | Impairment of purchased product rights | | - | | 1,134 | | - | Restructuring charges | | - | | 13,623 | | (1,079) | | | | | | | | Loss from equity investments | | (1,111) | | (603) | | (602) | Realized loss on investments | | - | | - | | (220) | Write-down of long-term strategic investments | | - | | (2,780) | | (1238) | | | | | | | | Permanent earnings | | 2189 | | (17726) | | (16938) | Given that Entrust’s share price is only $–__3.8__ at year-end Year 3, it does not appear that the market believes that the company’s improving earnings and cash flow from operations are going to be sustained. CA3.29 The Procter and Gamble Company.