Reference no: EM132620955
Questions -
Q1. Each of the following is included in computing the acid-test ratio except:
a. short term investments
b. cash
c. receivables
d. supplies
Q2. Noncash charges that are added back to net income in determining cash provided by operations under the Indirect Method do not include:
a. Depreciation expense
b. An increase in inventory.
c. Amortization expense
d. Loss on sale of equipment.
Q3. Candle Company reported net income of $100,000 for the year ended December 31, 2012. During the year, inventories increased by $21,000, accounts payable decreased by $24,000, depreciation expense was $30,000, and a gain on disposal of equipment of $17,000 was recorded. Compute Net cash provided by operations in 2012 using the indirect method?
a. $90,000.
b. $68,000.
c. $110,000.
d. $144,000.
Q4. Santo Corporation had net income of $300,000 and paid dividends to common stockholders of $50,000 in 2019. The weighted average number of shares outstanding in 2019 was 50,000 shares. Santo Corporation's common stock is selling at $40 per share on the New York Stock Exchange. Santo Corporation's price - earnings ratio is:
a. 8 times
b. 5 times
c. 7.5 times
d. 6 times
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