Social Science Questions
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Given the following income statement data, calculate net income: sales = $2,500, cost of goods sold = $1,800, miscellaneous expenses = $200, depreciation = $150, interest expense = $50, tax rate = 35%.
Which accounts will be debited and credited?Paid rent for the shop premises for 3 months.
During 2021, your firm reported net income of $600 and paid a $120 cash dividend. The December 31, 2020 balance sheet reported the following items: common stock = $500, capital surplus = $750, retained earnings = $900. What is the value of the retained earnings account for the December 31, 2021 balance sheet?
A firm has a profit margin of 5.1 percent, a total asset turnover of 1.84, and a return on equity of 16.2 percent. What is the debt-equity ratio.
Bonner Automotive has shareholders' equity of $218,700. The firm owes a total of $141,000 of which 40 percent is payable within the next year. The firm has long-term assets of $209,800. What is the amount of the net working capital?
In a corporation, _______________________ elects the board of directors, which serves to hire and oversee the corporation's executives.
Which of the following income statement accounts is a non-cash item?
Benefits of the corporate form of business organization includes:I. limited liability for shareholders II. relative ease of transferring ownership III. unlimited business life IV. double taxation
Which accounts will be debited and credited?Owner took £2,000 out of the bank account to pay for personal expenses.
A firm currently has $600 in debt for every $1,000 in equity. Assume the company uses some of its cash to decrease its debt while maintaining its current equity and net income. Which one of the following will decrease as a result of this action?
Which of the following is/are false regarding the balance sheet and income statement?I. The income statement reflects a summary of activity that occurs over some period of time while the balance sheet is a snapshot taken at a single point in time.II. Both represent a summary of activity that occurs over some time period.III. The two statements, taken together, give an accurate estimate of the firm's cash flows and market value.
A sole proprietorship is owned by _________.
Over four-fifths of all U.S. business revenue is generated by which type of firms?
The above diagram shows a balance sheet for a certain company. All quantities shown are in millions of dollars. If the company has 5 million shares outstanding, and these shares are trading at a price of $7.39 per share, what does this tell you about how investors view this firm's book value?
What is the most common type of firms in the United States and the world?
If a company produces a return on assets of 14 percent and also a return on equity of 14 percent, then the firm:
Reliable Cars has sales of $807,200, total assets of $1,105,100 and a profit margin of 9.68 percent. The firm has a total debt ratio of 64 percent. What is the return on equity?
A corporation earns $8.30 per share before taxes. The corporate tax rate is 39%, the personal tax rate on dividends is 15%, and the personal tax rate on non-dividend income is 36%. What is the total amount of taxes paid per share if the company has a payout ratio of 45%?Answer to two decimals (dollars and cents)
How much money would a stock exchange make from buying and selling 500 shares of thestock under the conditions shown above?
Valiant Corp. is a C corporation that earned $3.4 per share before it paid any taxes. Valiant Corp. retained $1 of after-tax earnings for reinvestment and distributed what remained in dividend payments. If the corporate tax rate was 35% and dividend earnings were taxed at 12.5%, what was the value of the dividend earnings received after-tax by a holder of 100,000 shares of Valiant Corp.?