- 1. What is a cash equivalent investment?
- 2. A company had total assets of 1,760,000, total cash flows of 1,320,000, & cash flows from of $1,320,000, and cash flows from operations of $205,000. This implies its cash flow on total assets ratio is equal to ______________________?
- 3. Everrine Corporation owns 3,000 shares of JRW Corporation JRW Corp. has 25,000 shares of stock outstanding. JRW paid $4.00 per share in cash dividends to its stockholders. What is the entry to record the receipt of these dividends?
- 4. Alton Company has an overhead application rate 160% and allocates overhead based on direct materials. During the current period:
- a. Direct labor is $50,000
- b. Direct Materials used is $80,000
i. Determine the amount of overhead Alton Company should record in the current period.
- 5. A company must repay the bank $10,000 cash in 3 years for a loan it took out. The loan is at 8% interest compounded annually. The present value factor for 3 years at 8% is 0.7938. What is the present value of the loan?
- 6. What is the customer orientation?
- 7. A corporation is authorized to issue 9,000 shares of $5 common stock. What should the Corporation report as paid in capital from the issuance of common stock?
- 8. Shamrock Company had net income of $30,000. On January 1, the number of shares of common stock outstanding was 8,000. The company declared a $2,700 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. What is the company’s earnings per share?
- 9. Canoe Company uses a job order cost accounting system & allocates its overhead on the basis of direct labor costs.
Canoe company’s production costs for the year were:
- a. Direct Labor $30,000
- b. Direct Materials $50,000
- c. Factory Overhead applied $6,000
What is the overhead application rate?
- 10. What are comparative Statements?