2015新綱gleim17cma英文題庫

題 直 公開 部 應 金融詞

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練習與模 知識點選題30

1

ToshEnterprisesreportedthefollowingaccount我Accounts 吐AccountsBondspayable,duein10Short-termprepaidInterestpayable,duein3 ThecurrentratioforToshEnterprises

A B C DABCD2

ToshEnterprisesreportedthefollowingaccountAccountsBondspayable,duein10Short-termprepaidInterestpayable,duein3 WhatisToshEnterprises’quick(acidtest)ABCDABCD3

ToshEnterprisesreportedthefollowingaccountAccountsAccountsBondspayable,duein10Short-termprepaidInterestpayable,duein3 ToshEnterprises’amountofworkingcapitalABCDABCD4 AfinancialanalysthasobtainedthefollowingdatafromKrytonIndustries’financial $Marketable Accountsreceivable, Prepaid Totalcurrent eAccruedCurrentportionlong-termTotalcurrentInordertodetermineKryton’sabilitytopaycurrentobligations,thefinancialanalystwouldcalculateKryton’scashABCDABCD5 Givenanacidtestratioof2.0,currentassetsof$5,000,andinventoryof$2,000,thevalueofcurrentliabilities66FactPattern:TheselecteddatapertaintoTilghmanCompanyatDecemberQuickassetsCurrentratioNetsalesfortheyearCostofsalesfortheyearAveragetotalassetsfor2.6to3.5toTilghmanCompany’scurrentliabilitiesatDecember317FactPattern:TheselecteddatapertaintoTilghmanCompanyatDecemberQuick A B C DABCDABCDABCDAcidtestratioCurrentratioNetsalesfortheyearCostofsalesfortheyearAveragetotalassetsfor

2.6to3.5to TilghmanCompany’sinventorybalanceatDecember31A.B.C.D.ABCDABCD8 ThefollowingfinancialinformationappliestoSycamore$MarketableAccountsPrepaidAccountsLong-termdebt--current

Whatistheacidtest(orquick)ratioforA.B.C.D.ABCDABCD9

FactPattern:TheinformationbelowpertainstoDevlinStatementofFinancialPositionasofMay31(inthousands)

eStatementfortheyearendedMay31(in

Year2Year

Net

Year2Year CurrentCostsand$$CostsofgoodsTradingSelling,general,Accountsreceivable89Prepaidebefore$$eTotalcurrentNet$$Property,plant,andequipmentIntangibleassetsCurrentNotes$$AccountsAccrued54etaxesTotalcurrent$Long-termDeferred32Preferredstock,6%,$100par Commonstock,$10parAdditionalpaid-incapital--RetainedTotalliabilitiesand DevlinCompany’sacidtestratioatMay31,Year2,A.0.60toB.0.90toC.1.14toD.1.86toABCDABCD10

FactPattern:TheStatementofFinancialPositionforKingProductsCorporationforthefiscalyearsendedJune30,Year2,andJune30,Year1,ispresentedbelow.NetsalesandcostofgoodssoldfortheyearendedJune30,Year2,were$600,000and$440,000,respectively.KingProductsCorporationStatementofFinancialPosition(inthousands)

JuneYearYear $Marketablesecurities(atAccountsreceivableInventories(atlowerofcostorPrepaidTotalcurrent$Land(at$BuildingEquipmentGoodwillTotallong-term$Notes $AccountsAccruedTotalcurrent$Notespayable,10%due12/31/Year $Bondspayable,12%due6/30/YearTotallong-term $$Preferredstock--5%cumulative,$100par,authorized,issuedandoutstanding,2,000$Commonstock--$10par,40,000shares30,000sharesissuedandAdditionalpaid-incapital--Retained$Totalliabilities& KingProductsCorporation’squick(acidtest)ratioatJune30,Year2,A.B.C.D.ABCDABCD11

FactPattern:ThedatapresentedbelowshowactualfiguresforselectedaccountsofMcKeonCompanyforthefiscalyearendedMay31,Year1,andselectedbudgetfiguresfortheYear2fiscalyear.McKeon’scontrollerisintheprocessofreviewingtheYear2budgetandcalculatingsomekeyratiosbasedonthebudget.McKeonCompanymonitorsyieldorreturnratiosusingtheaveragefinancialpositionofthecompany.(RoundallcalculationstothreedecimalplacesifCurrentNoncurrentCurrentLong-termCommonstock($30parRetainedYearCostofgoodsetaxes(40%DividendsdeclaredandpaidYearAdministrative*AllsalesarecreditCurrent5/31/Year$AccountsPrepaid McKeonCompany’scurrentratioforYear2A.B.C.D.ABCDABCD12 Aservicecompany’sworkingcapitalatthebeginningofJanuaryofthecurrentyearwas$70,000.ThefollowingtransactionsoccurredduringJanuary:PerformedservicesonPurchasedsuppliesonConsumedPurchasedofficeequipmentforPaidshort-termbankPaidAccruedWhatistheamountofworkingcapitalattheendofA.B.B.C.D.13CPZEnterpriseshadthefollowingaccountAccountspayableBondspayable,duein10yearsInterestpayable,duein3monthsNotespayable,duein6PrepaidThecompanyhasanoperatingcycleof5ThecurrentratioforCPZEnterprises A B C DABCDD.D.14CPZEnterpriseshadthefollowingaccountAccountspayableBondspayable,duein10Interestpayable,duein3monthsNotespayable,duein6PrepaidThecompanyhasanoperatingcycleof5WhatisCPZ’sacidtest(quick) A B C DABCD1515BeatnikCompanyhasacurrentratioof2.5andaquickratioof2.0.Ifthefirmexperienced$2millionincostofsalesandsustainsaninventoryturnoverof8.0,whatarethefirm’scurrentassets?16Lisa,StatementofFinancialPositionDecember31,Year2Year Year$$ A B C DABCDABCDABCDTradingAccountsreceivableInventories(atlowerofcostorPrepaidTotalcurrentLong-termSecurities(atProperty,plant,&Land(atBuildingEquipmentIntangibleGoodwillTotallong-termTotalLiabilities&Shareholders’CurrentNotes$$AccountsAccruedTotalcurrentLong-termNotespayable10%due12/31/YearBondspayable12%due12/31/YearTotallong-termTotal$Shareholders’Preferred--5%cumulative,$100non-participating,1,000sharesauthorized,issuedandoutstandingCommon--$10par20,000

authorized,15,000issuedoutstandingAdditionalpaid-incapital--RetainedTotalshareholders’Totalliabilities& Lisa,Inc.’sacidtest(quick)ratioatDecember31,Year2,ABCDABCD17

FactPattern:Acompanyhasacurrentratioof1.4,aquick,oracidtest,ratioof1.2,andthefollowingpartialsummarybalancesheet:Accounts

$Fixed Currentliabilities Long-term Stockholders’ Totalliabilitiesand ThecompanyhasanaccountsreceivablebalanceABCDABCD18

FactPattern:Acompanyhasacurrentratioof1.4,aquick,oracidtest,ratioof1.2,andthefollowingpartialbalance$Accounts Fixed Current Long-termStockholders’Totalliabilitiesand ThecompanyhasafixedassetsbalanceABCDABCDYearYearSales(allareCostofgoods$Sellingandadministrativeebeforeinterestandetaxes$$ebeforeetaxesetax$$Net$$RSTCorporationComparativeBalanceSheetsEndofYears5and6YearYearCurrent$$AccountsreceivableTotalcurrent$$NoncurrentLong-termProperty,plant,andLiabilitiesandStockholders’CurrentAccounts$$AccruedTotalcurrent$$Long-term0%Bondspayable,dueinYear$$Stockholders’Commonstock,2,400shares,$10$$RetainedTotalstockholders’$Totalliabilitiesandstockholders’ThemarketvalueofRST’scommonstockattheendofYearSixwas$100.00per RST’sacidtest(orquick)ratioattheendofYear62.40to2.40to2.18to2.00to1.50to20FactPattern:BroomallCorporationhasdecidedtoincludecertainfinancialratiosinitsyear-endannualreportshareholders.SelectedinformationrelatingtoitsmostrecentfiscalyearisprovidedAccounts–BeginningofEndofyearBeginningofEndofAvailable-for-saleHistoricalFairvalueatyearendAccountspayableNotespayable(duein90days)Bondspayable(duein10years)NetcreditsalesforyearCostofgoods$ A B C DABCDBroomall’sBroomall’sworkingcapitalatyearend21FactPattern:BroomallCorporationhasdecidedtoincludecertainfinancialratiosinitsyear-endannualreportshareholders.SelectedinformationrelatingtoitsmostrecentfiscalyearisprovidedAccounts–Beginningof–EndofPrepaid$BeginningofEndofAvailable-for-saleHistorical–FairvalueatyearendAccountspayableNotespayable(duein90Bondspayable(duein10 A B C DABCDNetcreditsalesforyearCostofgoodssold

Broomall’squick(acidtest)ratioatyearend2.00to1.925to1.80to1.05toABCDABCD22

FactPattern:ShownbelowarebeginningandendingbalancesforcertainofGrimaldi,Inc.’sJanuaryDecember$$MarketableAccountsreceivableProperty,plant,equipmentAccountsAccruedDeferred7%long-termbondsGrimaldi’snetefortheyearwas Grimaldi’sacidtestratioorquickratioattheendoftheyearABCDABCD23

FactPattern:ShownbelowarebeginningandendingbalancesforcertainofGrimaldi,Inc.’sJanuaryDecember$$MarketableAccountsreceivableProperty,plant,equipmentAccountsAccruedDeferred7%long-termbondsGrimaldi’snetefortheyearwas Grimaldi’scurrentratioattheendoftheyear24AllofthefollowingareincludedwhencalculatingtheacidtestratioSix-monthtreasuryPrepaidAccounts60-daycertificatesof25Acompany’scashratiowilldecreaseifthe A B C DABCDABCDABCDPurchasescommercialPurchasescommercialPurchasesmaterialsonSellsgoodsforcashatasellingpricelowerthanReceivescashbyissuingashort-termnote26Inanalyzingtheshort-termliquidityofafirm,manyanalystsprefertousethequick(oracidtest)ratioratherthancurrentratio.TheprimaryreasonforthispreferenceisthatQuickratioexcludesaccountCurrentratioincludesmarketablesecuritiesthatmaybePro-formacashflowstatementsfocusoncashConversionofinventoryintocashisless27Afirmhasgatheredfinancialstatementdatafromthreecompaniesapplyingforcreditasnewcustomers.The A B C DABCDABCDABCDextendscredittocustomersonthecreditterms2/10,net30.Priortoacceptingthecustomers,afinancialanalystwiththefirmperformsaliquidityanalysis.Summarydataisshownbelow:CompanyGH$$$AccountsCurrentTotalCurrentTotalTotalshareholders’Whenevaluatingtheliquidityofthethreepotentialcustomers,whichoneofthefollowingconclusionsisCompanyHhasthehighestcurrentratiobutthelowestacid-testratio,sothefirmshouldnotacceptCompanyHasanewcustomer.CompanyGhasalowdebttototalassetsratio,sothefirmshouldacceptCompanyGasanewCompanyFhasalowcurrentratio,sothefirmshouldnotacceptCompanyFasanewCompanyFhasahighlong-termdebttoequityratio,sothefirmshouldacceptCompanyFasanewABCDABCD28 Acorporationhas$90millionincurrentassets.Ifthecorporationhasacurrentratioof1.2andaquickratioof0.9,isnetworking$10$15$81$108ABCDABCD高頓網(wǎng)校用戶

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題 直 公開 部 應 金融詞

Part

練習與模 知識點選題60

1

BondCorporationhasacurrentratioof2to1andaquickratio(acidtest)of1to1.ABond’squickratiobutnotitscurrentratioisSaleofinventoryonaccountatCollectionofaccountsPaymentofaccountsPurchaseofapatentfor

我要ouldn吐n A B C DABCD2

ToshEnterprisesreportedthefollowingaccountAccountsAccountsBondspayable,duein10Short-termprepaidInterestpayable,duein3 WhatwillhappentotheratiosbelowifToshEnterprisesusescashtopay25%oftheaccountsCurrent Quick ABCDABCD3 Rice,Inc.,usestheallowancemethodtoaccountforuncollectibleaccounts.AnaccountreceivablethatwaspreviouslydetermineduncollectibleandwrittenoffwascollectedduringMay.TheeffectofthecollectiononRice’scurrentratioandtotalworkingcapitalCurrent Working ABCDABCD4

FactPattern:DepooleCompanyisamanufacturerofindustrialproductsthatusesacalendaryearforfinancialreportingpurposes.Assumethattotalquickassetsexceededtotalcurrentliabilitiesbothbeforeandafterthetransactiondescribed.FurtherassumethatDepoolehaspositiveprofitsduringtheyearandacreditbalancethroughouttheyearinitsretainedearningsaccount. Depoole’spaymentofatradeaccountpayableof$64,500Increasethecurrentratio,butthequickratiowouldnotbeIncreasethequickratio,butthecurrentratiowouldnotbeIncreaseboththecurrentandquickDecreaseboththecurrentandquickABCDABCD5

FactPattern:DepooleCompanyisamanufacturerofindustrialproductsthatusesacalendaryearforfinancialreportingpurposes.Assumethattotalquickassetsexceededtotalcurrentliabilitiesbothbeforeandafterthetransactiondescribed.FurtherassumethatDepoolehaspositiveprofitsduringtheyearandacreditbalancethroughouttheyearinitsretainedearningsaccount. Depoole’spurchaseofrawmaterialsfor$85,000onopenaccountIncreasethecurrentDecreasethecurrentIncreasenetworkingDecreasenetworkingABCDABCD6

FactPattern:DepooleCompanyisamanufacturerofindustrialproductsthatusesacalendaryearforfinancialreportingpurposes.Assumethattotalquickassetsexceededtotalcurrentliabilitiesbothbeforeandafterthetransactiondescribed.FurtherassumethatDepoolehaspositiveprofitsduringtheyearandacreditbalancethroughouttheyearinitsretainedearningsaccount. Depoole’scollectionofacurrentaccountsreceivableof$29,000IncreasethecurrentDecreasethecurrentratioandthequickIncreasethequickNotaffectthecurrentorquickABCDABCD7

FactPattern:DepooleCompanyisamanufacturerofindustrialproductsthatusesacalendaryearforfinancialreportingpurposes.Assumethattotalquickassetsexceededtotalcurrentliabilitiesbothbeforeandafterthetransactiondescribed.FurtherassumethatDepoolehaspositiveprofitsduringtheyearandacreditbalancethroughouttheyearinitsretainedearningsaccount. Obsoleteinventoryof$125,000waswrittenoffbyDepooleduringtheyear.ThisDecreasedthequickIncreasedthequickIncreasednetworkingDecreasedthecurrentABCDABCD8

FactPattern:DepooleCompanyisamanufacturerofindustrialproductsthatusesacalendaryearforfinancialreportingpurposes.Assumethattotalquickassetsexceededtotalcurrentliabilitiesbothbeforeandafterthetransactiondescribed.FurtherassumethatDepoolehaspositiveprofitsduringtheyearandacreditbalancethroughouttheyearinitsretainedearningsaccount. Depoole’sissuanceofserialbondsinexchangeforanofficebuilding,withthefirstinstallmentofthebondsduelatethisyear,DecreasesnetworkingDecreasesthecurrentDecreasesthequickAffectsalloftheanswersasABCDABCD9

FactPattern:DepooleCompanyisamanufacturerofindustrialproductsthatusesacalendaryearforfinancialreportingpurposes.Assumethattotalquickassetsexceededtotalcurrentliabilitiesbothbeforeandafterthetransactiondescribed.FurtherassumethatDepoolehaspositiveprofitsduringtheyearandacreditbalancethroughouttheyearinitsretainedearningsaccount. Depoole’searlyliquidationofalong-termnotewithcashaffectsCurrentratiotoagreaterdegreethanthequickQuickratiotoagreaterdegreethanthecurrentCurrentandquickratiotothesameCurrentratiobutnotthequickABCDABCD10 WindhamCompanyhascurrentassetsof$400,000andcurrentliabilitiesof$500,000.WindhamCompany’sratiowillbeincreasedThepurchaseof$100,000ofinventoryonThepaymentof$100,000ofaccountsThecollectionof$100,000ofaccountsRefinancinga$100,000long-termloanwithshort-termABCDABCD11 PetersCompanyhasa2-to-1currentratio.Thisratiowouldincreasetomorethan2to1ApreviouslydeclaredstockdividendwereThecompanywroteoffanuncollectibleThecompanysoldmerchandiseonopenaccountthatearnedanormalgrossThecompanypurchasedinventoryonopenABCDABCD12 Merit,Inc.,usesthedirectwrite-offmethodtoaccountforuncollectibleaccountsreceivable.Ifthecompanysubsequentlycollectsanaccountreceivablethatwaswrittenoffinaprioraccountingperiod,theeffectofthecollectionoftheaccountreceivableonMerit’currentratioandtotalworkingcapitalwouldbeCurrent Working ABCDABCD13

FactPattern:ExcerptsfromthestatementoffinancialpositionforLandauCorporationasofSeptember30ofcurrentyeararepresentedas$AccountsreceivableTotalcurrentAccountsAccruedTotalcurrentTheboardofdirectorsofLandauCorporationmetonOctober4ofthecurrentyearanddeclaredtheregularcashdividendamountingto$750,000($.60pershare).ThedividendispayableonOctober25ofthecurrentyeartoallshareholdersofrecordasofOctober12ofthecurrentyear.AssumethattheonlytransactionstoaffectLandauCorporationduringOctoberofthecurrentyeararethedividendtransactionsandthattheclosingentrieshavebeen LandauCorporation’sworkingcapitalUnchangedbythedividenddeclarationanddecreasedbythedividendDecreasedbythedividenddeclarationandincreasedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendDecreasedbythedividenddeclarationandunchangedbythedividendABCDABCD14

FactPattern:ExcerptsfromthestatementoffinancialpositionforLandauCorporationasofSeptember30ofthecurrentyeararepresentedasfollows.$AccountsreceivableTotalcurrentAccountsAccruedTotalcurrentTheboardofdirectorsofLandauCorporationmetonOctober4ofthecurrentyearanddeclaredtheregularquarterlycashdividendamountingto$750,000($.60pershare).ThedividendispayableonOctober25ofthecurrentyeartoallshareholdersofrecordasofOctober12ofthecurrentyear.AssumethattheonlytransactionstoaffectLandauCorporationduringOctoberofthecurrentyeararethedividendtransactionsandthattheclosingentrieshavebeen LandauCorporation’scurrentratioDecreasedbythedividenddeclarationandincreasedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendDecreasedbythedividenddeclarationandunchangedbythedividendIncreasedbythedividenddeclarationandunchangedbythedividendABCDABCD15

FactPattern:ExcerptsfromthestatementoffinancialpositionforMarkhamCorporationasofApril30ofthecurrentyeararepresentedasfollows:$AccountsreceivableTotalcurrentAccruedTotalcurrentTheboardofdirectorsofMarkhammetonMay5ofthecurrentyearanddeclaredaquarterlycashdividendintheamountof$800,000($.50pershare).ThedividendwaspaidonMay28ofthecurrentyeartoshareholdersofrecordasofMay15ofthecurrentyear.AssumethattheonlytransactionsthataffectedMarkhamduringMayofthecurrentyearwerethedividendtransactionsandthattheclosingentrieshavebeenmade. Markham’sworkingcapitalwouldDecreasedbythedividenddeclarationandincreasedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendDecreasedbythedividenddeclarationandunchangedbythedividendIncreasedbythedividenddeclarationandunchangedbythedividendABCDABCD16

FactPattern:ExcerptsfromthestatementoffinancialpositionforMarkhamCorporationasofApril30oftheyeararepresentedas$AccountsreceivableTotalcurrentAccountsAccruedTotalcurrentTheboardofdirectorsofMarkhammetonMay5ofthecurrentyearanddeclaredaquarterlycashdividendintheamountof$800,000($.50pershare).ThedividendwaspaidonMay28ofthecurrentyeartoshareholdersofrecordasofMay15ofthecurrentyear.AssumethattheonlytransactionsthataffectedMarkhamduringMayofthecurrentyearwerethedividendtransactionsandthattheclosingentrieshavebeenmade. Markham’scurrentratiowouldDecreasedbythedividenddeclarationandincreasedbythedividendIncreasedbythedividenddeclarationandunchangedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendUnchangedbythedividenddeclarationanddecreasedbythedividendABCDABCD17 Thefollowingtransactionsoccurredduringacompany’sfirstyearofPurchasedadeliveryvanforBorrowedmoneybyissuanceofshort-termdebtPurchasedtreasurystockWhichoftheitemsabovecausedachangeintheamountofworkingIIandIIIandIIIABCDABCD18

CPZEnterpriseshadthefollowingaccountAccountsAccountsBondspayable,duein10Interestpayable,duein3Notespayable,duein6PrepaidThecompanyhasanoperatingcycleof5 WhatwillhappentotheratiosbelowifCPZEnterprisesusescashtopay50%oftheaccountsCurrent Quick ABCDABCD19

FactPattern:JensenCorporation’sboardofdirectorsmetonJune3anddeclaredaregularquarterlycashof$.40pershareforatotalvalueof$200,000.ThedividendispayableonJune24toallstockholdersofrecordasofJune17.ExcerptsfromthestatementoffinancialpositionforJensenCorporationasofMay31arepresentedas$AccountsreceivableTotalcurrentTotalcurrentAssumethattheonlytransactionstoaffectJensenCorporationduringJunearethedividend Jensen’sworkingcapitalwouldUnchangedbythedividenddeclarationanddecreasedbythedividendDecreasedbythedividenddeclarationandincreasedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendDecreasedbythedividenddeclarationandunchangedbythedividendABCDABCD20

FactPattern:JensenCorporation’sboardofdirectorsmetonJune3anddeclaredaregularquarterlycashdividendof$.40pershareforatotalvalueof$200,000.ThedividendispayableonJune24toallstockholdersofrecordasofJune17.ExcerptsfromthestatementoffinancialpositionforJensenCorporationasofMay31arepresentedasAccountsreceivable

$TotalcurrentTotalcurrentAssumethattheonlytransactionstoaffectJensenCorporationduringJunearethedividend Jensen’scurrentratiowouldUnchangedbythedividenddeclarationanddecreasedbythedividendDecreasedbythedividenddeclarationandincreasedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendDecreasedbythedividenddeclarationandunchangedbythedividendABCDABCD21

FactPattern:JensenCorporation’sboardofdirectorsmetonJune3anddeclaredaregularquarterlycashdividendof$.40pershareforatotalvalueof$200,000.ThedividendispayableonJune24toallstockholdersofrecordasofJune17.ExcerptsfromthestatementoffinancialpositionforJensenCorporationasofMay31arepresentedas$AccountsreceivableTotalcurrentTotalcurrentAssumethattheonlytransactionstoaffectJensenCorporationduringJunearethedividend Jensen’squick(acidtest)ratiowouldUnchangedbythedividenddeclarationanddecreasedbythedividendDecreasedbythedividenddeclarationandincreasedbythedividendUnchangedbyeitherthedividenddeclarationorthedividendDecreasedbythedividenddeclarationandunchangedbythedividendABCDABCD22 AllofthefollowingareaffectedwhenmerchandiseispurchasedoncreditTotalcurrentNetworkingTotalcurrentCurrentABCDABCD23thefollowingcurrent$MarketableAccountsIfBirch’scurrentliabilitiesare$1,300,000,theCurrentratiowilldecreaseifapaymentof$100,000cashisusedtopay$100,000ofaccountsCurrentratiowillnotchangeifapaymentof$100,000cashisusedtopay$100,000ofaccountsQuickratiowilldecreaseifapaymentof$100,000cashisusedtopurchaseQuickratiowillnotchangeifapaymentof$100,000cashisusedtopurchaseABCDABCD24 DavisRetail,Inc.,hastotalassetsof$7,500,000andacurrentratioof2.3timesbeforepurchasing$750,000ofmerchandiseoncreditforresale.Afterthispurchase,thecurrentratiowillRemainat2.3Behigherthan2.3Belowerthan2.3Beexactly2.53ABCDABCD25 MarkowitzCompanyincreaseditsallowanceforuncollectibleaccounts.ThisadjustmentIncreasetheacidtestIncreaseworkingReducedebt-to-assetReducethecurrentABCDABCD26 GarstkaAutoPartsmustincreaseitsacidtestratioabovethecurrent0.9levelinordertocomplywiththetermsofaloanagreement.Whichoneofthefollowingactionsismostlikelytoproducethedesiredresults?ExpeditingcollectionofaccountsSellingautopartsonMakingapaymenttotradeaccountsPurchasingmarketablesecuritiesforABCDABCD27 Theownerofachainofgrocerystoreshasboughtalargesupplyofmangoesandpaidforthefruitwithcash.Thispurchasewilladverselyimpactwhichoneofthefollowing?WorkingCurrentQuickoracidtestPriceearningsABCDABCD28 BoththecurrentratioandthequickratioforSpartanCorporationhavebeenslowlydecreasing.Forthepasttwoyears,thecurrentratiohasbeen2.3-to-1and2.0-to-1.Duringthesametimeperiod,thequickratiohasdecreasedfrom1.2-to-1to1.0-to-1.Thedisparitybetweenthecurrentandquickratioscanbeexplainedbywhichoneofthefollowing?Thecurrentportionoflong-termdebthasbeensteadilyThecashbalanceisunusuallyTheaccountsreceivablebalancehasTheinventorybalanceisunusuallyABCDABCD29 TheacidtestratioshowstheabilityofacompanytopayitscurrentliabilitieswithouthavingReduceitscashBorrowadditionalCollectitsLiquidateitsABCDABCD30 Whenafixedassetissoldforlessthanbookvalue,whichoneofthefollowingwillTotalcurrentCurrentNetNetworkingABCDABCD31 Ifacompanyhasacurrentratioof2.1andpaysoffaportionofitsaccountspayablewithcash,thecurrentratioRemainMoveclosertothequickABCDABCD32 Clauson,Inc.,grantscredittermsof1/15,net30andprojectsgrosssalesfornextyearof$2,000,000.Thecreditmanagerestimatesthat40%oftheircustomerspayonthediscountdate,40%onthenetduedate,and20%pay15daysafterthenetduedate.Assuminguniformsalesanda360-dayyear,whatistheprojecteddays’salesoutstanding(roundedtothenearestwholeday)?20242730ABCDABCD33Acondensedcomparativebalancesheetacompanyappears12/31/Year $$ Property,plant,& Accumulated $$Current $$Long-term Stockholders’ Totalliabilitiesand $$Inlookingatliquidityratiosatbothbalancesheetdates,whathappenedtothe(1)currentratioand(2)acidtestCurrent

AcidTest ABCDABCD34 BirchProductsLtd.hasthefollowingcurrent€MarketableAccountsTotalcurrent€IfBirch’scurrentliabilitiesare€1,300,000,theCurrentratiowilldecreaseifapaymentof€100,000cashisusedtopay€100,000ofaccountsCurrentratiowillnotchangeifapaymentof€100,000isusedtopay€100,000ofaccountsAcid-test(quick)ratiowilldecreaseifapaymentof€100,000cashisusedtopurchaseAcid-test(quick)ratiowillnotchangeifapaymentof€100,000cashisusedtopurchase A B C DABCD高頓網(wǎng)高頓網(wǎng)如何觀看網(wǎng)校學習學習學習卡網(wǎng)上支開通支付快捷支紅包與優(yōu)發(fā)票退換課問題商務合 AllianceLtd.has$80millionincurrentassets,comprisedof$30millionininventoryand$50millionincashandmarketablesecurities.Thecompany’scurrentliabilitiestotal$50million.IfAlliancepurchasesanadditional$10millionininventorywith$10millionincash,theeffectofthistransactiononthecompanywouldbetoDecreasethecurrentratioandincreasethequickDecreasethequickratiowhilethecurrentratioremainsLeaveboththecurrentratioandthequickratioDecreasethecurrentratioanddecreasethequickABCDABCD咨詢熱線咨詢熱線(9:00-微信掃一實時資訊全掌備Copyright?2006-2014AllRights

題 直 公開 部 應 金融詞

Part

練習與模 知識點選題60

1 CarsonCorporationcomputedthefollowingitemsfromitsfinancialrecordsforthecurrent 我吐

CurrentratioAccountsreceivableCurrentliabilities

2to542436

ThenumberofdaysinCarson’soperatingcycleforthecurrentyearABCDABCD2 Todeterminetheoperatingcycleforaretaildepartmentstore,whichoneofthefollowingpairsofitemsisDays’salesinaccountsreceivableandaveragemerchandiseCashturnoverandnetAccountsreceivableturnoverandinventoryAssetturnoverandreturnonABCDABCD3 AccountsreceivableturnoverratiowillnormallydecreaseasaresultThewrite-offofanuncollectibleaccount(assumetheuseoftheallowancefordoubtfulaccountsAsignificantsalesvolumedecreaseneartheendoftheaccountingAnincreaseincashsalesinproportiontocreditAchangeincreditpolicytolengthentheperiodforcashABCDABCD4 Whichoneofthefollowinginventorycostflowassumptionswillresultinahigherinventoryturnoverratioinaninflationaryeconomy?WeightedSpecificABCDABCD5 Thedays’salesinreceivablesratiowillbeunderstatediftheUsesanaturalbusinessyearforitsaccountingUsesacalendaryearforitsaccountingUsesaveragereceivablesintheratioDoesnotuseaveragereceivablesintheratioABCDABCD6 WhenabalancesheetamountisrelatedtoanestatementamountincomputingaThebalancesheetamountshouldbeconvertedtoanaveragefortheTheestatementamountshouldbeconvertedtoanaveragefortheBothamountsshouldbeconvertedtomarketComparisonswithindustryratiosarenotABCDABCD7

FactPattern:TheinformationbelowpertainstoDevlinStatementofFinancialPositionasofMay31(inthousands)

eStatementfortheyearendedMay31(inCurrentTradingAccountsreceivable

Year2Year$ $

NetCostsandCostsofgoodssoldSelling,general,and

Year2Year 89Prepaidebefore$$TotalcurrenteNet$$Property,plant,andequipmentIntangibleassetsCurrentNotes$$AccountsAccrued54etaxesTotalcurrent$Long-termDefer