Reference no: EM132432238
Questions -
Q1. The Common Stock account for Baltimore Corporation on January 1, 2018 was $50,000. On July 1, 2018 Baltimore issued an additional 9,000 shares of common stock. The Common Stock is $5 par. There was neither Preferred Stock nor any Treasury Stock. Paid in Capital Excess to par Common Stock was $20,000 on January 1 and $40,000 on July 2 and net income was $109,000. Use this information to determine for December 31, 2018 the amount of Earnings per Share.
Q2. For the FY 2018, Dorchester Company's balance sheet included the following current items: cash $43,000, accounts receivable $130,000, inventories $80,000, prepaid expenses $17,000, accounts payable $94,000, and accrued expenses $58,000. Use this information to determine the Current Ratio.
Q3. For the FY 2018, Frederick Company had net sales of $1,100,000 and net income of $75,000, paid income taxes of $25,000, and had before tax interest expense of $17,500. Use this information to determine the Times Interest Earned Ratio.
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