26. A company's income before interest expense and income taxesis $100,000 and its interest expense is $50,000. Its times interestearned ratio is:

• 0.50

• 1.50

• 2.00

• 1.00

• 0.70

  27. A registrar keeps stockholder records and prepares officiallists of stockholders and dividend payments.

• true of false

  29.Eastline Corporation had 16,500 shares of $5 par value commonstock outstanding when the board of directors declared a stockdividend of 5,445 shares. At the time of the stock dividend, themarket value per share was $15. The entry to record this dividendis:

• No entry is needed.

• Debit Retained Earnings $27,225; credit Common Stock DividendDistributable $27,225.

• Debit Common Stock Dividend Distributable $81,675; creditRetained Earnings $81,675.

• Debit Retained Earnings $81,675; credit Common Stock DividendDistributable $81,675.

• Debit Retained Earnings $81,675; credit Common Stock DividendDistributable $27,225; credit Paid-In Capital in Excess of ParValue, Common Stock $54,450.

  31. Peavey Enterprises purchased a depreciable asset for $22,000on April 1, Year 1. The asset will be depreciated using thestraight-line method over its four-year useful life. Assuming theasset's salvage value is $2,000, Peavey Enterprises shouldrecognize depreciation expense in Year 2 in the amountof:

• $10,000

• $5,000

• $5,500

• $20,000

• $9,250

• 39 -The amount due on the maturity date of a $11,200, 90-day 7%,note receivable is: (Use 360 days a year.)

• $11,396.

• $11,200.

• $10,416.

• $11,984.

• $11,004.

  40-A company had average total assets of $937,000. Its grosssales were $1,099,000 and its net sales were $960,000. Thecompany's total asset turnover equals:

• 1.14.

• 1.02.

• 0.98.

• 0.85.

• 1.17.