Questions from Financial Accounting

Q: What is total paid-in capital for Sportplace? (Assume

What is total paid-in capital for Sportplace? (Assume that treasury stock does not reduce total paid-in capital.) a. $632,300 b. $709,900 c. $643,700 d. $638,000 e. None of the above

Q: Sportplace’s net income for the period is $119,600 and

Sportplace’s net income for the period is $119,600 and its average common stockholders’ equity is $699,415. Sportplace’s return on common stockholders’ equity is closest to a. 17.1%. b. 17.2%. c. 18.4...

Q: Quill Corporation paid $28 per share to purchase 900 shares of

Quill Corporation paid $28 per share to purchase 900 shares of its common stock as treasury stock. The stock was originally issued at $12 per share. Which of the following would be the journal entry t...

Q: Marvin’s Foods has outstanding 400 shares of 2% preferred stock,

Marvin’s Foods has outstanding 400 shares of 2% preferred stock, $100 par value; and 1,500 shares of common stock, $15 par value. Marvin’s declares dividends of $13...

Q: Hodson Corp. purchased ten $1,000 8% bonds

Hodson Corp. purchased ten $1,000 8% bonds of Eagle Corporation when the market rate of interest was 6%. Interest is paid semiannually, and the bonds will mature in four years. Using the PV function i...

Q: Spicer Industries prepares budgets to help manage the company. Spicer is

Spicer Industries prepares budgets to help manage the company. Spicer is budgeting for the fiscal year ended January 31, 2018. During the preceding year ended January 31, 2017, sales totaled $9,700...

Q: A corporation has 100,000 shares of 4% preferred stock

A corporation has 100,000 shares of 4% preferred stock outstanding. Also, there are 100,000 shares of common stock outstanding. Par value for each is $100. If a $825,000 dividend is paid, how much goe...

Q: A corporation has 100,000 shares of 4% preferred stock

A corporation has 100,000 shares of 4% preferred stock outstanding. Also, there are 100,000 shares of common stock outstanding. Par value for each is $100. If a $825,000 dividend is paid, how much goe...

Q: Amir Company’s net income and net sales are $18,000

Amir Company’s net income and net sales are $18,000 and $1,100,000, respectively, and average total assets are $100,000. What is Amir’s return on assets? a. 20.0% b. 18.0% c. 3.7% d. 7.0%

Q: In a DuPont analysis, what are the components of return on

In a DuPont analysis, what are the components of return on assets? a. Net Profit Margin Ratio and Debt Ratio b. Net Profit Margin Ratio and Leverage Ratio c. Net Profit Margin Ratio and Asset Turnover...