Week 4 Homework, Ch 10-13
1) Which of the following should be included in
the cost of land?
a) cost to build sidewalks on the land
b) cost to clear the land of old buildings
c) cost of installing signage
d) cost of installing fences
2) Which of the following items should be
a) natural resources
c) patents, copyrights, trademarks
d) tangible property, plant, and equipment,
other than land
3) Maple Company had net sales of $200,550 for
the year ended December 31, 2015. Its beginning and ending total assets were
$75,200 and $110,500, respectively. Determine Maple’s asset turnover ratio for
the year ended December 31, 2015.
a) 0.46 times
b) 2.67 times
c) 1.18 times
d) 2.16 times
4) Which of the following is true of dividends?
a) Dividends are a distribution of cash, stock,
or other assets to the stockholders.
b) Dividends increase assets and decrease total
stockholders’ equity of a corporation.
c) Dividend payments decrease paid-in capital.
d) Dividend payments increase stockholders’
5) Which of the following is true of preferred
a) Preferred shareholders generally receive a
fixed amount of dividends before common stockholders do.
b) Preferred shareholders are guaranteed that
they will not take a loss on their investment.
c) Preferred shareholders have higher voting
rights than common shareholders.
d) Preferred shareholders may sell their shares
for a price higher than that of common stock.
6) Hastings Company has purchased a group of
assets for $15,000. The assets and their relative market values are listed
Which of the following amounts would be debited
to the Land account?
NEED HELP WRITING YOUR PAPER?
PLACE AN ORDER WITH US TODAY AND ENJOY A 10% DISCOUNT. USE DISCOUNT CODE: Disc10