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Exam 13: How Well Am I Doing Statement of Cash Flows

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Question 101

Multiple Choice

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The gross margin percentage is most likely to be used to assess:

A) how quickly accounts receivables can be collected.
B) how quickly inventories are sold.
C) the efficiency of administrative departments.
D) the overall profitability of the company's products.

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Question 102

Multiple Choice

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The following account balances have been provided for the end of the most recent year: The book value per share of common stock is:

A) $20.
B) $22.
C) $25.
D) $28.

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Question 103

Multiple Choice

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Erack Company has $15,000 in cash,$4,000 in marketable securities,$38,000 in current receivables,$18,000 in inventories,and $40,000 in current liabilities.The company's acid-test (quick) ratio is closest to:

Working capital equals current assets less current liabilities.

Lisa Inc.'s inventory turnover for 20 × 7 was closest to:

The following data have been taken from your company's financial records for the current year: The price-earnings ratio is:

Marcell Company's average collection period (age of receivables) for 20 × 6 was closest to:

For 20 × 9,the gross margin as a percentage of sales was:

Orantes Company's return on total assets for 20 × 6 was closest to:

Which of the following is true regarding the calculation of return on total assets?

A company's current ratio and acid-test ratios are both greater than 1.0 to 1.If obsolete inventory is written off,this would:

Harwichport Company has a current ratio of 3.5 to 1 and an acid-test ratio of 2.8 to 1.Current assets equal $175,000 of which $5,000 consists of prepaid expenses.Harwichport Company's inventory must be:

The net accounts receivable for Andante Company were $150,000 at the beginning of the most recent year and $190,000 at the end of the year.If the accounts receivable turnover for the year was 8.5,and 15% of total sales were cash sales,then the total sales for the year were:

The market price of XYZ Company's common shares dropped from $25 to $21 per share.The dividend paid per share remained unchanged.The company's dividend payout ratio would:

Calculate the earnings per share for 20 × 4

March Company's working capital (in thousands of dollars) at the end of 20 × 6 was closest to:

Arquandt Company's net income last year was $550,000.The company has 150,000 shares of common stock and 50,000 shares of preferred stock outstanding.There was no change in the number of common or preferred shares outstanding during the year.The company declared and paid dividends last year of $1.20 per share on the common stock and $1.70 per share on the preferred stock.The earnings per share of common stock are closest to:

In calculating earnings per share,net income is reduced by the amount paid out as dividends to the owners of the preferred shares.

Laroche Company's earnings per share of common stock for 20 × 6 were closest to:

Frantic Company had $130,000 in sales on account last year.The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $16,000.The company's accounts receivable turnover was closest to: