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External link to Question : 21. Charm City Electric a regulated monopoly providing electric services in : 1230314
Accounting

Question : 21. Charm City Electric a regulated monopoly providing electric services in : 1230314

    21. Charm City Electric is a regulated monopoly providing electric services in a large city. Property, plant, and equipment dominate the asset side of the balance sheet. Which of the following is true?  A. It relies more on long-term debt than shareholders’ equity to finance these facilities. B. It may a debt-equity ratio of 100% or more. C. The regulated monopoly status practically eliminates the risk of […]

External link to Question : 5.1   Learning Objective 5-1 1) Adjusting journal entries: A) need not be : 1177386
Accounting

Question : 5.1   Learning Objective 5-1 1) Adjusting journal entries: A) need not be : 1177386

    5.1   Learning Objective 5-1   1) Adjusting journal entries: A) need not be journalized since they appear on the worksheet. B) need not be posted if the financial statements are prepared from the worksheet. C) are not needed if closing entries are prepared. D) must be journalized and posted.   2) Journal entries that are needed in order to update account balances for […]

External link to Question : 41) Identify the appropriate order of the following steps in : 1211900
Accounting

Question : 41) Identify the appropriate order of the following steps in : 1211900

  41) Identify the appropriate order of the following steps in the procedure for process costing with spoilage.   a.summarize total costs to account for b.assign total costs to units completed, to spoiled units, and to units in ending inventory c.summarize the flow of physical units d.compute output in terms of equivalent units e.compute cost per equivalent unit   Step 1 ________ Step 2 ________  […]

External link to Question : 107. The balance sheet of Tech Track reports total assets : 1255752
Accounting

Question : 107. The balance sheet of Tech Track reports total assets : 1255752

    107. The balance sheet of Tech Track reports total assets of $400,000 and $500,000 at the beginning and end of the year, respectively. Sales revenues are $1,080,000($800,000 in the previous year), net income is $40,000, and net cash flows from operating activities are $50,000. How does Tech Track’s asset turnover compare to the industry average of 2.4 times? a. Better. b. Worse. c. […]

External link to Question : 141. Collins Landscape Company purchased various landscaping supplies account to be : 1246490
Accounting

Question : 141. Collins Landscape Company purchased various landscaping supplies account to be : 1246490

  141. Collins Landscape Company purchased various landscaping supplies on account to be used for landscape designs for their customers.  How will this business transaction affect the accounting equation?  A. Increase Assets (Supplies) and increase Liabilities (Accounts Payable) B. Increase Assets (Supplies) and decrease Assets (Cash) C. Increase Assets (Supplies) and decrease Stockholders’ Equity (Supplies Expense) D. Increase Stockholders’ Equity (Supplies Expense) and increase Liabilities (Accounts Payable) 142. There are four […]

External link to Question : 81. The Joyner Corporation purchased and used 126,000 board feet of : 1233876
Accounting

Question : 81. The Joyner Corporation purchased and used 126,000 board feet of : 1233876

  81. The Joyner Corporation purchased and used 126,000 board feet of lumber in production, at a total cost of $1,449,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.5 board feet per unit and a standard price of $12 per board foot. Actual production was 23,000 units. Compute the material price variance. A. 63,000FB. 63,000UC. 6,000FD. 6,000U 82. The Joyner Corporation purchased and used 126,000 […]

External link to Question : 41.A controlling interest in another company: a.exists whenever the relationship between : 1253685
Accounting

Question : 41.A controlling interest in another company: a.exists whenever the relationship between : 1253685

  41.A controlling interest in another company: a.exists whenever the relationship between the investor and investee gives the investor significant influence. b.requires the parent to prepare consolidated financial statements. c.is evidence that a merger will soon occur. d.can be as low as 20 percent. 42.Why might chief executives react very positively to current goodwill accounting? a.Goodwill increases in value. b.Goodwill is amortized creating expenses that […]

External link to Question : 81. Adding more decision-making authority to a job to increase its : 1250992
Accounting

Question : 81. Adding more decision-making authority to a job to increase its : 1250992

    81. Adding more decision-making authority to a job to increase its motivational potential is known as:  A. job enlargement. B. job rotation. C. job involvement. D. job enrichment. Job design interventions emphasizing the motivational approach tend to focus on increasing the meaningfulness of jobs. Much of the work on job enlargement, job enrichment and self-managing work teams has its roots in the motivational approach to job design.   […]

External link to Question : 134.Use the following selected information from Wheeler, LLC to determine : 1236539
Accounting

Question : 134.Use the following selected information from Wheeler, LLC to determine : 1236539

  134.Use the following selected information from Wheeler, LLC to determine the 2015 and 2014 common size percentages for operating expenses using Net sales as the base.  20152014 Net sales$276,200$231,400 Cost of goods sold151,900129,590 Operating expenses55,24053,240 Net earnings27,82019,820    A.36.4% for 2015 and 41.1% for 2014. B.55.0% for 2015 and 56.0% for 2014. C.23.9% for 2015 and 23.0% for 2014. D.103.8% for 2015 and 100.0% […]

External link to Question : 21) Merchandising-sector companies A) purchase materials and convert them to finished : 1186142
Accounting

Question : 21) Merchandising-sector companies A) purchase materials and convert them to finished : 1186142

  21) Merchandising-sector companies A) purchase materials and convert them to finished goods. B) buy goods and resell them. C) provide services or intangible products. D) have only variable costs. E) have period and some manufacturing costs.   22) Manufacturing-sector companies report on the balance sheet A) only merchandise inventory. B) only finished goods inventory. C) direct materials inventory, work-in-process inventory, and finished goods inventory […]

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Approximate price: $22

July 1, 2023
    

 

 

108.When shares of stock are sold from one investor to another, they will trade at:   

A. Par value.

 

B. Book value.

 

C. Market value.

 

D. Stated value.

 

 

 

 

109.A 2-for-1 stock split will:   

A. Increase the total par value of the stock and increase the number of shares outstanding.

 

B. Decrease the total par value of the stock and increase the number of shares outstanding.

 

C. Not change the total par value of the stock and increase the number of shares outstanding.

 

D. Increase total stockholders' equity.

 

 

 

 

110.Which statement is true about a stock split?   

A. Total shareholders' equity increases.

 

B. Total shareholders' equity decreases.

 

C. Total shareholders' equity remains the same.

 

D. A change in total stockholders' equity depends upon whether it is a 2-for-1 split or a 3-for-1 split.

 

 

 

 

111.A 2-for-1 stock split:   

A. Is accounted for in the same way as a stock dividend.

 

B. Increases the number of outstanding shares of common stock, but par value per share remains the same as before the split.

 

C. Is recorded by transferring the par value of additional shares from retained earnings to the common stock account.

 

D. Should logically cause the market price per share to drop by approximately 50%.

 

 

 

 

112.A 2-for-1 stock split will have what effect upon the following items?     

A. Option A

 

B. Option B

 

C. Option C

 

D. Option D

 

 

 

 

113.On September 1, 2015, Maryland Corporation's common stock was selling at a market price of $200 per share. On that date, Maryland announced a 3 for 2 stock split. At what price would you expect the stock to trade immediately after the split goes into effect?   

A. $100 per share.

 

B. $200 per share.

 

C. $133.33 per share.

 

D. $225 per share.

 

 

 

114.On September 1, 2015, Miami Corporation's common stock was selling at a market price of $300 per share. On that date, Miami announced a 2 for 1 stock split. At what price would you expect the stock to trade immediately after the split goes into effect?   

A. $100.

 

B. $150.

 

C. $200.

 

D. $600.

 

 

 

115.On September 1, 2015, Miami Corporation's common stock was selling at a market price of $25 per share. On that date, Miami announced a 1 for 4 stock split. At what price would you expect the stock to trade immediately after the split goes into effect?   

A. $100.

 

B. $25.

 

C. $6.25.

 

D. $50.

 

 

 

116.Treasury stock:   

A. Is an asset.

 

B. Increases total stockholders' equity.

 

C. Decreases total stockholders' equity.

 

D. Does not change total stockholders' equity.

 

 

 

 

117.The purchase of treasury stock for cash will:   

A. Increase stockholders' equity.

 

B. Not increase nor decrease stockholders' equity.

 

C. Decrease stockholders' equity.

 

D. Not change total assets.

 

 

 

 

 

default image
July 1, 2023
    

 

 

108.When shares of stock are sold from one investor to another, they will trade at:   

A. Par value.

 

B. Book value.

 

C. Market value.

 

D. Stated value.

 

 

 

 

109.A 2-for-1 stock split will:   

A. Increase the total par value of the stock and increase the number of shares outstanding.

 

B. Decrease the total par value of the stock and increase the number of shares outstanding.

 

C. Not change the total par value of the stock and increase the number of shares outstanding.

 

D. Increase total stockholders' equity.

 

 

 

 

110.Which statement is true about a stock split?   

A. Total shareholders' equity increases.

 

B. Total shareholders' equity decreases.

 

C. Total shareholders' equity remains the same.

 

D. A change in total stockholders' equity depends upon whether it is a 2-for-1 split or a 3-for-1 split.

 

 

 

 

111.A 2-for-1 stock split:   

A. Is accounted for in the same way as a stock dividend.

 

B. Increases the number of outstanding shares of common stock, but par value per share remains the same as before the split.

 

C. Is recorded by transferring the par value of additional shares from retained earnings to the common stock account.

 

D. Should logically cause the market price per share to drop by approximately 50%.

 

 

 

 

112.A 2-for-1 stock split will have what effect upon the following items?     

A. Option A

 

B. Option B

 

C. Option C

 

D. Option D

 

 

 

 

113.On September 1, 2015, Maryland Corporation's common stock was selling at a market price of $200 per share. On that date, Maryland announced a 3 for 2 stock split. At what price would you expect the stock to trade immediately after the split goes into effect?   

A. $100 per share.

 

B. $200 per share.

 

C. $133.33 per share.

 

D. $225 per share.

 

 

 

114.On September 1, 2015, Miami Corporation's common stock was selling at a market price of $300 per share. On that date, Miami announced a 2 for 1 stock split. At what price would you expect the stock to trade immediately after the split goes into effect?   

A. $100.

 

B. $150.

 

C. $200.

 

D. $600.

 

 

 

115.On September 1, 2015, Miami Corporation's common stock was selling at a market price of $25 per share. On that date, Miami announced a 1 for 4 stock split. At what price would you expect the stock to trade immediately after the split goes into effect?   

A. $100.

 

B. $25.

 

C. $6.25.

 

D. $50.

 

 

 

116.Treasury stock:   

A. Is an asset.

 

B. Increases total stockholders' equity.

 

C. Decreases total stockholders' equity.

 

D. Does not change total stockholders' equity.

 

 

 

 

117.The purchase of treasury stock for cash will:   

A. Increase stockholders' equity.

 

B. Not increase nor decrease stockholders' equity.

 

C. Decrease stockholders' equity.

 

D. Not change total assets.

 

 

 

 

 

default image
July 1, 2023
    

 

 

108.When shares of stock are sold from one investor to another, they will trade at:   

A. Par value.

 

B. Book value.

 

C. Market value.

 

D. Stated value.

 

 

 

 

109.A 2-for-1 stock split will:   

A. Increase the total par value of the stock and increase the number of shares outstanding.

 

B. Decrease the total par value of the stock and increase the number of shares outstanding.

 

C. Not change the total par value of the stock and increase the number of shares outstanding.

 

D. Increase total stockholders' equity.

 

 

 

 

110.Which statement is true about a stock split?   

A. Total shareholders' equity increases.

 

B. Total shareholders' equity decreases.

 

C. Total shareholders' equity remains the same.

 

D. A change in total stockholders' equity depends upon whether it is a 2-for-1 split or a 3-for-1 split.

 

 

 

 

111.A 2-for-1 stock split:   

A. Is accounted for in the same way as a stock dividend.

 

B. Increases the number of outstanding shares of common stock, but par value per share remains the same as before the split.

 

C. Is recorded by transferring the par value of additional shares from retained earnings to the common stock account.

 

D. Should logically cause the market price per share to drop by approximately 50%.

 

 

 

 

112.A 2-for-1 stock split will have what effect upon the following items?     

A. Option A

 

B. Option B

 

C. Option C

 

D. Option D

 

 

 

 

113.On September 1, 2015, Maryland Corporation's common stock was selling at a market price of $200 per share. On that date, Maryland announced a 3 for 2 stock split. At what price would you expect the stock to trade immediately after the split goes into effect?   

A. $100 per share.

 

B. $200 per share.

 

C. $133.33 per share.

 

D. $225 per share.

 

 

 

114.On September 1, 2015, Miami Corporation's common stock was selling at a market price of $300 per share. On that date, Miami announced a 2 for 1 stock split. At what price would you expect the stock to trade immediately after the split goes into effect?   

A. $100.

 

B. $150.

 

C. $200.

 

D. $600.

 

 

 

115.On September 1, 2015, Miami Corporation's common stock was selling at a market price of $25 per share. On that date, Miami announced a 1 for 4 stock split. At what price would you expect the stock to trade immediately after the split goes into effect?   

A. $100.

 

B. $25.

 

C. $6.25.

 

D. $50.

 

 

 

116.Treasury stock:   

A. Is an asset.

 

B. Increases total stockholders' equity.

 

C. Decreases total stockholders' equity.

 

D. Does not change total stockholders' equity.

 

 

 

 

117.The purchase of treasury stock for cash will:   

A. Increase stockholders' equity.

 

B. Not increase nor decrease stockholders' equity.

 

C. Decrease stockholders' equity.

 

D. Not change total assets.

 

 

 

 

 

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