one decimal point, Name 10. 3. Whatis the price earnings ratio for this company?
ID: 2409642 • Letter: O
Question
one decimal point, Name 10. 3. Whatis the price earnings ratio for this company? Round your answer to 80 times 4 Acermscation han (0,000 bares of $25 par value stock outstanding that has a current market vale issues a S-for-I stock split, the number of shares outstanding will be: h 40 times c 60 times d 25 times value of s 4. A corporation If the corporation a 300,000 b. 10,000 c. 60,000 d 30,000 a debit Depreciaticon Expense; credit Accumulated Depreciation b debit Accumulated Depreciation; credit Depreciation Expense 5 The adjusting entry to record the depreciation of equipment for the fiscal period is debit Equipment; credit Depreciation Expense c. d. debit Depreciation Expene; credit Equipment panyahet fr $2,00 ash. This transaction should be shown on the statement of cash flows under a investing activities b. financing activities c. noncash investing and financing activities d operating activities 7. As aging of a company's accounts receivable indicates that estimate of the uncollectible accounts totals $5,00. If Allowance for Doubtful Accounts has a $1,200 credit balance, the adjustment to record the bad debt expense for the period will require a debit to Allowance for Doubtful Accounts for $5,000. a. credit to Allowance for Doubtful Accounts for $5,000. debit to Allowance for Doubtful Accounts for $3,800. b. c. d. debit to Bad Debt Expense for $3,800. 8. On Junes, Alt Co. issued an S90000 6% 120-day for your calculations, what is the maturity value of the note? a. $90,000 b. $95,400 c. $90,450 d. $91,800 e payable to Seller Co. Assuming a 360-day year 9. Uneaned Fees appear on the a. balance sheet in the current assets section b. balance shee t in the stockholders equity section c. balance sheet as a current liability d. income statement as revenueExplanation / Answer
3) PE RATIO = MPS/ EPS
SINCE THERE IS LACK OF SUFFICIENT INFORMATION, UNABLE TO ANSWER THE QUESTION.
4) ANS:- (a) 3,00,000 shares is correct.
Reason:-
CORPORATION OUTSTANDING SHARES= 60,000 SHARES
SPLIT OFF RATIO IS 5 FOR 1 STOCK
THEREFORE, TOTAL NO. OF OUTSTANDING SHARES= 60,000*5/1 = 3,00,000 SHARES.
5) ANS:- (a) is correct
Reason:- THE ADJUSTING ENTRY TO RECORD THE DEPRECIATION OF EQUIPMENT FOR THE FISCAL PERIOD IS DEBIT - DEPRECIATION EXPENSE , CREDIT - ACCUMULATED DEPRECIATION.
6) Ans:- (a) investing activities.
Reason:-I nvesting activities are identified with changes in a corporation's long-term assets. Investing activities are reported in a separate section of the financial statement Statement of Cash Flows(SCF)—also referred to as the cash flow statement.
Examples of investing activities include the acquisition (purchase) of long-term investments, equipment used in the business, a building used in the business, and so on. The purchase of these long-term assets is shown as a negative amount in the investing activities section of the SCF, because the acquisition will use (will reduce) cash.
7) Ans:- (d) is correct.
Reason:- If allowance is not sufficient to meet the total uncollectible bad debt, then debit the balance amount of bad debt under the head Bad Debt Expense. So, in the present case, we should Debit the amount of 3,800 with Bad Debt Expense.
8) Ans:- (d) is correct.
Calculation of Maturity value of the note:-
Note issued value = $ 90,000@ 6%, 120 day note payable
Maturity value of Note = (90,000 + (90,000*6%*120/360))
Maturity value of Note = $91,800
9) Ans:- (c) is correct.
Reason:-
An unearned fee in accounting is money a business collects from a customer up front for services the company has yet to perform, such as a prepaid annual membership. If your small business collects unearned fees, you must record the fees initially as a liability on the balance sheet. As you complete the services for those fees, the fees become earned revenue, which you record on the income statement.
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