Specialization in ACC 100 Quiz Chapter 18 is the main aim of Transwebetutors. We offer UOP individual assignment help services by learned professionals. Best help is provided by us so that our students can achieve good grades in entire class and University of Phoenix quiz. We have collection of questions which have higher chances of coming in examination. Transwebetutors is the solution of all your doubts as it provides complete study material which will surely enhance your performance level.

ACC 100 Quiz Chapter 18

$7.99 - $9.99
Rating: A+ Purchased: 38 Times
Description Write a Review

ACC 100 Quiz Chapter 18 -

Multiple Choice Question 105

A company has an average inventory on hand of $60,000 and the days in inventory is 73 days. What is the cost of goods sold?

  • $600,000
  • $300,000
  • $2,190,000
  • $4,380,000

 

Multiple Choice Question 131

The following information is available for Oakland Company:

                                                2014    2013

Accounts receivable  $  360,000       $  400,000

Inventory                   340,000           400,000

Net credit sales           2,470,000        1,400,000

Cost of goods sold     1,850,000        1,060,000

Net income                 300,000           170,000

The inventory turnover ratio for 2014 is

  • 5.4 times.
  • 4.6 times.
  • 5.0 times.
  • 6.7 times.

 

Multiple Choice Question 147           

Beta’s Bunny Barn has experienced a $80,000 loss due to tornado damage to its inventory. Tornados have never before occurred in this area. Assuming that the company’s tax rate is 30%, what amount will be reported for this loss on the income statement?

  • $56,000
  • $80,000
  • $24,000
  • $72,000

 

Multiple Choice Question 108           

Net sales are $8,000,000, beginning total assets are $2,500,000, and the asset turnover is 4.0 times. What is the ending total asset balance?

  • $1,500,000
  • $2,000,000
  • $2,500,000
  • $2,500,000

 

Multiple Choice Question 148           

Flite Company reported income before taxes of $900,000 and an extraordinary loss of $250,000. Assume that the company’s tax rate is 35%. What amounts will be reported on the income statement for income before irregular items and extraordinary items, respectively?

  • $585,000 and $250,000
  • $585,000 and $162,500
  • $650,000 and $250,000
  • $650,000 and $162,500

 

Multiple Choice Question 45

A technique for evaluating financial statements that expresses the relationship among selected items of financial statement data is

  • vertical analysis.
  • common size analysis.
  • horizontal analysis.
  • ratio analysis.

 

Multiple Choice Question 91             

A supplier to a company would be most interested in the company’s

  • current ratio.
  • profit margin.
  • earnings per share.
  • asset turnover.

 

Multiple Choice Question 68             

In performing a vertical analysis, the base for sales returns and allowances is

  • sales discounts.
  • net sales.
  • total revenues.
  • sales.

 

Multiple Choice Question 99

The acid-test ratio

  • does include prepaid expenses as part of the numerator.
  • is a quick calculation of an approximation of the current ratio.
  • does not include all current liabilities in the calculation.
  • does not include inventory as part of the numerator.

 

Multiple Choice Question 161           

Comparisons can be made on each of the following bases except

  • intercompany basis.
  • intracompany basis.
  • industry averages.
  • Each of these is a basis for comparison.

 

Related Product
ACC 100 Week 11  Discussion
$1.49

ACC 100 Week 11 Discussion

Rating: A
Purchased: 34 Times
Add to Cart