33. The following data is available for BOX Corporation at December 31, 2016:

Common stock, par $10 (authorized 30,000 shares) $200,000

Treasury stock (at cost $15 per share) $ 1,200

Based on the data, how many shares of common stock are outstanding?

a. 30,000.

b. 20,000.

c. 29,920.

d. 19,920.

34. Financing activities involve

a. lending money.

b. acquiring investments.

c. issuing debt.

d. acquiring long-lived assets..

35 The category that is generally considered to be the best measure of a company's ability to continue as a going concern is

a. cash flows from operating activities.

b. cash flows from investing activities.

c. cash flows from financing activities.

d. usually different from year to year.

36. The board of directors of Benson Company declared a cash dividend of $1.50 per share on 42,000 shares of common stock on July 15, 2014. The dividend is to be paid on August 15, 2014, to stockholders of record on July 31, 2014. The correct entry to be recorded on August 15, 2014, will include a

a. debit to Cash Dividends.

b. credit to Cash Dividends.

c. credit to Dividends Payable.

d. debit to Dividends Payable.

37 Alt Corp. issues 3,000 shares of $10 par value common stock at $14 per share. When the transaction is recorded, credits are made to:

a. Common Stock $30,000 and Cash $42,000.

b. Common Stock $42,000.

c. Common Stock $30,000 and Paid-in Capital in Excess of Par Value $12,000.

d. Common Stock $30,000 and Retained Earnings $12,000.

38. A company receives $176, of which $16 is for sales tax. The journal entry to record the sale would include a

a. debit to Sales Taxes Expense for $16.

b. credit to Sales Taxes Payable for $16.

c. debit to Sales Revenue for $176.

d. debit to Cash for $160.

39. Working capital is calculated by taking

a. current assets plus current liabilities.

b. current assets minus current liabilities.

c. current assets divided by current liabilities.

d. current assets times current liabilities.

40. Using the following balance sheet and income statement data, what is the current ratio?

Current assets $ 7,000 Net income $ 15,000

Current liabilities 4,000 Stockholders equity 21,000

Average assets 44,000 Total liabilities 9,000

Total assets 30,000

Average common shares outstanding was 10,000.

a. 0.78 : 1

b. 3.33 : 1

c. 0.57 : 1

d. 1.75: 1