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?

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?

107. An
aircraft company would most likely have

a. a high inventory turnover.

b. low profit margin.

c. high volume.

d. a low inventory turnover.

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?

a. $2,000,000

b. $1,500,000

c. $2,500,000

d. $2,500,000

109. Earnings per share is calculated

a. only for common stock.

b. only for preferred stock.

c. for common and preferred stock.

d. only for treasury stock.

110. Which of the following is not
a profitability ratio?

a. Payout ratio

b. Profit margin

c. Times interest earned

d. Return on common stockholders’ equity

111. Times interest earned is also called the

a. money multiplier.

b. interest coverage ratio.

c. coupon coverage ratio.

d. premium ratio.

112. The ratio that uses weighted average common
shares outstanding in the denominator is the

a. price-earnings ratio.

b. return on common stockholders’ equity.

c. earnings per share.

d. payout ratio.

113. Net income does not appear in the
numerator of the

a. profit margin.

b. return on assets.

c. return on common stockholders’ equity.

d. payout ratio.

114. Swiss
Clothing Store had a balance in the Accounts Receivable account of $820,000 at
the beginning of the year and a balance of $780,000 at the end of the year. Net
credit sales during the year amounted to $7,200,000. The accounts receivable
turnover ratio was

a. 9.0 times.

b. 8.4 times.

c. 9.2 times.

d. 8.8 times.

115. Swiss Clothing Store had a
balance in the Accounts Receivable account of $920,000 at the beginning of the
year and a balance of $980,000 at the end of the year. Net credit sales during
the year amounted to $6,650,000. The average collection period of the
receivables in terms of days was

a. 53.7 days.

b. 52.1 days.

c. 30 days.

d. 50.7 days.

116. Blitzen
Corporation had net income of $200,000 and paid dividends to common
stockholders of $50,000 in 2014. The weighted average number of shares
outstanding in 2014 was 40,000 shares. Blitzen Corporation’s common stock is
selling for $35 per share on the New York Stock Exchange. Blitzen Corporation’s
price-earnings ratio is

a. 5.6 times.

b. 7 times.

c. 5 times.

d. 9.3 times.


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