Reference no: EM132963492
Questions -
Q1) Eagle Company reported net credit sales of $6,660,000 and it had a balance in the 'ace MOE receivable account of $910,000 and a balance of $1,100,000 at the end of the year. The average collection period is
a. 54.07 days
b. 53.7 days.
c. 52.1 days
d. cannot be determined from this information.
Q2) Manar Corporation announced a $80,000 cash dividend. Currently, it has 3,000 shares of 7.5%, $100 par value cumulative preferred stock outstanding. It is two year in arrears on its preferred stocks. How much cash will Manar distribute to the common stockholders?
a. $67,500.
b. $45,000.
c. $22,500
d. None of these answer choices are correct.
Q3) Eastern Union Corporation has 2,500 shares of 5%, $50 par value, cumulative preferred stock and 20,000 shares of $1 par value of common stock outstanding from December 31, 2018 through Dec. 31, 2020. There were no dividends declared in 2018 and 2017.the top executives declare and pays a $22,500 dividend in 2019 and in 2020. What is the amount of dividend obtained by the common stockholders in 2020?
a. $3,750
b. $22,500
c. $0
d. $10,000
Q4) The following information was obtained from books of reem corporation
Current (short-term) liability $199,100
Long term liabilities 515,020
Total shareholders' equity 1,171,400
In a common size analysis, long-term liabilities would be expressed as:
a. 60.96%.
b. All of these choices are incorrect
c. 27.11%.
d. 258.67%.