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Multiple Choice questions on accounts basics.
1. When a change in accounting principle occurs a. prior years\' financial statements should not be changed to reflect the newly adopted principle b. the new principle should be used in reporting the results of operations of the current year c. the cumulative effect of the change in principle should be reflected on the income statement as of the beginning of the next year. d. the cumulative effect of the change in accounting principle should be classified as an extraordinary item on the income statement. 2. If an item meets one (but not both) of the criteria for an extraordinary item, it a. only needs to be disclosed in the footnotes of the financial statements. b. may be treated as sales revenue (if it is a gain) and as an operating expense (if it is a loss). c. is reported as an \"other revenue or gain\" or \"other expense and loss,\" net of tax. d. is reported at its gross amount as an \"other revenue or gain\" or \"other expense or loss.\" 3. Horizontal analysis is also known as a. linear analysis b. vertical analysis c. trend analysis d. common size analysis 4. Vertical analysis is a technique that expresses each item in a financial statement a. in dollars and cents b. as a percent of the item in the previous year c. as a percent of a base amount d. starting with the highest value down to the lowest value 5. Return on common stockholders\' equity ratio is most closely related to a. gross profit rate and operating expenses to sales ratio b. profit margin and free cash flow c. times interest earned and debt to stockholders\' equity ratio d. return on asset ratio and leverage (debt to total assets ratio).
What is the shareholder's debt basis at January 1,3012?
Determine the firm's cost of retained earnings and the cost of new common equity. and If Dempere's after-tax cost of debt is 8%, what is the WACC with retained earnings? With new common equity?
Evaluation of unit costs for materials and conversion costs based on equivalent units of production given production costs at beginning, for processing and at ending work-in-process stages
Evaluate the statement of cash flows for the Decker Uniform Co.
Assume that the company uses the weighted-average method. - Find the total cost of ending work in process inventory and the total cost of units transferred to the next process in June.
Evaluate the following: (a) ratio of fixed assets to long-term liabilities, (b) ratio of liabilities to stockholders' equity, (c) ratio of net sales to assets, (d) rate earned on total assets, (e) rate earned on stockholders' equity, and (f) rate ..
Journal entries for issued shares at par-value
Describe each transaction effect on the stockholders equity accounts and the total stockholders equity.
By how many days would the cash conversion cycle be changed? - Cash conversion cycle
Determine the accounts receivable turnover ratio and average day's sales in receivables for the current year and Explain the meaning of each number
Evaluate the impact on net income
Preparation of classified balance sheet from the given data and Balance Sheet Preparation
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