Question
1.Current liabilities could include all of the following except: an accounts payable due in 30 days. a notes payable due in 9 months. a bank
1.Current liabilities could include all of the following except:
an accounts payable due in 30 days.
a notes payable due in 9 months.
a bank loan due in 18 months.
any part of long-term debt due during the current period.
2.Accrued liabilities could include all of the following except:
Wages and Salaries Payable.
Current Portion of Long-Term Debt.
Income Tax Payable.
Interest Payable.
3.The total amount of interest that will be paid on a four-month, $6,500, 9% note payable equals:
$585
$292
$146
$195
4.If the market rate of interest is 6%, a $10,000, 10-year bond with a stated annual interest rate of 8% would be issued at an amount:
less than face value.
equal to the face value.
greater than face value.
equal to the face value minus a discount.
5.A company issues 100,000 shares of preferred stock for $40 a share. The stock has fixed annual dividend rate of 5% and a par value of $3 per share. If sufficient dividends are declared, preferred stockholders can anticipate receiving dividends of:
$5,000 each year.
$15,000 each year.
5% of net income each year.
$3 per share.
6.A company issued 500,000 shares of preferred stock for $30 a share. The stock has a fixed annual dividend rate of 5% and a par value of $9 per share. The current price of the preferred stock is $32 a share. If sufficient dividends are declared, preferred stockholders can anticipate receiving annual dividends of:
$0.45 per share.
$1.50 per share.
$1.60 per share.
$1.05 per share.
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