Reference no: EM132631182

Questions -

Q1. Markett Company had net income $475,000. They also had depreciation expense of $150,000, an increase or decrease in accounts receivable of $30,000, and an increase or decrease in inventory of $-25,000. Markett prepares their Statement of Cash FLows using the indirect method. Use this information to determine the dollar value of cash provided or used by operating activities.

Q2. At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders equity of $4,400,000. On FY 2018 year end, Somerset Corporation had Common Stock account account of $1,200,000 of treasury stock. The preferred stock account of $100,000 of $100 par value. There was no treasury stock. The preferred stock was noncumulative and had a call price of $105. Use this information to determine the book value per share of Common Stock as of end of the FY 2018: (Round your answer to the nearest penny.)

Q3. On January 1, 2018, Landry Company issued $200,000 face value, 4%, 10 year bonds at 102. Interest is paid annually on January 1. Baltimore uses the straight-line method of amortization. Use this information to determine the dollar value of the interest expense for the 2018 fiscal year. Round your answer to the nearest whole dollar.

Q4. Tangier Company signed a $150,000 mortgage on July 1, 2018 for the purchase of their new garage building. The mortgage entailed equal monthly payments of $2800 at the end of each month. The interest rate is 4.0% per year. How much interest expense will be paid on August 31, 2018? Round your answer to the nearest whole dollar.