Reference no: EM133026302
Questions -
Q1. Ix Company issued 14,000 shares of $10 par value common stock at a market price of $20. As a result of this accounting event, the amount of stockholders' equity would:
A. increase by $280,000
B. be unaffected
C. increase by $140,000
D .increase by $140,000
Q2. Curtain Co. paid dividends of $10,000; $12,500; and $14,000 during Year 1, Year 2, and Year 3, respectively. The company had 2,100 shares of 5.5%, $100 par value preferred stock outstanding that paid a cumulative dividend. The amount of dividends received by the common shareholders during Year 3 would be:
A. $11,550
B. $2,500
C. $1,850
D. $1,550
Q3. The Miller Company reported gross sales of $840,000, sales returns and allowances of $6,100 and sales discounts of $6,100. The company has average total assets of $490,000, of which $245,000 is property, plant, and equipment. What is the company's asset turnover ratio?
A. 1.71 times
B. 1.69 times
C. 0.59 times
D. 1.74 times
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