Accounting

1. Which of the following balance sheet items generally takes the longest time to convert to cash?

(a). accounts receivable

Don't use plagiarized sources. Get Your Custom Essay on
Accounting
Just from $13/Page
Order Essay

(b). marketable securities

(c). inventory

(d). accounts payable

 

2. A firm’s net income may be greater than its net cash flows because the firm

(a). did not pay dividends

(b). sold merchandise on credit

(c). deferred income taxes

(d). deducted depreciation expense

 

3. If Toronto Motors Had an EBIT of $22.5M, Interest of $7M and is taxed at an average rate of 32% what is their Net Income?

(a). $10.5M

(b). $15.5M

(c). $5.0M

(d). $8.3M

4. The average tax rate is

(a). the tax rate that is paid on the last dollar of income earned.

(b). always higher than the marginal tax rate.

(c). calculated by dividing the total taxes paid by the taxable income.

(d). none of these.

 

5. Which of the following is a tax deductible expense for a corporation?

(a). common stock dividends paid

(b). interest paid

(c). loan principal paid

(d). preferred stock dividends paid

 

6. Net cash flow

(a). is the same as a firm’s net income.

(b). is the difference between a firm’s operating cash flow and its financing cash flow.

(c). is the difference between a firm’s total expenses and total revenues.

(d). is the difference between a firm’s actual cash receipts and cash payments in a given period.

 

7. Use the following information to answer this question:

Increase in inventories $ 28

Purchased treasury stock $17

Purchased Property and equipment $18

Net income $330

Decrease in accrued income taxes $42

Depreciation and amortization $112

Decrease in accounts payable $10

Increase in accounts receivable $ 26

Increase in Long-term debt $10

 

(a). -$17

(b). – $65

(c). – $83

(d). – $117

 

What was Hadlock Industries’ Cash Flow from Financing for the year ending 6/30/2011?

Place Order
Grab A 14% Discount on This Paper
Pages (550 words)
Approximate price: -
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Try it now!

Grab A 14% Discount on This Paper

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.