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linda_us
linda_us, Master's Degree
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I would like to ask you some question about my review.

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for LINDA only" Hi I would like to ask you some question about my review.
Submitted: 1 year ago.
Category: Multiple Problems
Customer: replied 1 year ago.
Hi
Customer: replied 1 year ago.
Hi Linda,Can you help for the solution?.Exam: 061582R - Corporations
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Questions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a page
break, so be sure that you have seen the entire question and all the answers before choosing an answer.
1. Of the following, which is not classified as an investing activity on the statement of cash flows?
A. Collecting the principal on loans
B. Purchasing land
C. Sale of equipment for cash
D. Selling goods and services
2. Operating activities are transactions and events associated with selling a product or providing a service
related to the
A. assets and liabilities reported on the balance sheet.
B. revenues and expenses reported on the income statement.
C. net income reported on the statement of retained earnings.
D. retained earnings reported on the balance sheet.
3. A purchase of new equipment on a note payable under the direct method is reported
A. in the operating section of the cash flow statement.
B. as a separate disclosure as a non-cash transaction.
C. in the investing section of the cash flow statement.
D. in the financing section of the cash flow statement.
4. A company has current assets of $70,000, quick assets of $30,000, total assets of $150,000, current
liabilities of $50,000, and net sales of $80,000. What is the current ratio of this company?
A. 0.20
B. 3.00
C. 1.00
D. 1.40
5. R&R Heating, Inc. has 350,000 shares of $3-par common stock outstanding. They have declared a 5%
stock dividend. The current market price of the common stock is $7.50 per share. The amount that will be
credited to common stock on the date of declaration is
A. $52,500.
B. $131,250.
C. $78,750.
D. $183,750.
6. Choose the correct formula to determine a trend percentage.
A. An item from the base year multiplied by the same item from the current year.
B. Net profit of the current year divided by net profit of a base year.
C. The total income of the current year, minus the total income from a base year.
D. An item from any year divided by the same item from a base year, multiplied by 100.
7. Which is a value placed on a certificate for a share of the company's stock?
A. Market value
B. Paid-in capital
C. Stated value
D. Additional paid-in capital
8. A journal entry for the sale of $10 par-common stock for $18 per share would include a
A. credit to Paid-In Capital in Excess of Par–Common Stock.
B. debit to Common Stock.
C. credit to Cash.
D. debit to Paid-In Capital in Excess of Par–Common Stock.
9. Cherry Corporation's outstanding stock is 100 shares of $100 par, 11% cumulative preferred stock, and
2,000 shares of $12 par common stock. Cherry paid $1,600 in cash dividends during the year. No
dividends are in arrears. Common stockholders received
A. $0.
B. $1,100.
C. $2,500.
D. $500.
10. Tucker Enterprises' Accounts Receivable increased by $48,000, and its Accounts Payable increased by
$27,000. What is the net effect on cash from operations under the indirect method?
A. +$21,000
B. +$75,000
C. –$75,000
D. –$21,000
Expert:  linda_us replied 1 year ago.

Thanks for requesting me. I will post the solution by weekend.

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