At March 31, Cummins Co. had a balance in its cash account of $10,500. At the end of March the company determined that it had outstanding checks of $1,130, deposits in transit of $700, a bank service charge of $40, and an NSF check from a customer for $225. The true cash balance at March 31 is: Multiple Choice $10,235 $10,500 $9.780 $10,070 Blair Scott started a sole proprietorship by depositing $32,000 cash in a business checking account. During the accounting period the business borrowed $14,000 from a bank, earned $4,200 of net Income, and Scott withdrew $5,400 cash from the business. Based on this information, at the end of the accounting perlod Scott's capital account contained a balance of Multiple Choice O $36,200. $33.200. $30.800 $44,800 The times-interest-earned ratio is calculated by which of the following? Multiple Choice Earnings before interest and taxes divided by interest expense. Net income divided by interest expense. Total assets divided by interest expense. None of these answer choices is correct. On January 1, 2016 Brown Co. issued $110,000 of 9%, 20-year bonds. If Bluefield's tax rate is 40%, the after-tax cost of borrowing related to these bonds for 2016 is: Multiple Choice 58 $9.900. $13.860 O $3.960. $5,940. The par value of a company's stock Multiple Choice has little connection to the market value of the stock. may be revised each time a company issues more shares of stock. is generally greater than market value. dictates the initial price of the stock Callable bonds may be Multiple Choice converted to common stock at the option of the issuer. called for early reurement at the option of the issuer converted to common stock at the option of the bondholder called for early reulement at the option of the bondholder The Wilson Company purchased $26,000 of merchandise from the Poole Wholesale Company. Wilson also paid $1,900 for freight costs to have the goods shipped to its location. Which of the following statements regarding the necessary entries for the transactions is true? Wilson uses the perpetual Inventory system, Multiple Choice Total debits to the inventory account would be $27.900 0 Transportation-In would be debited for S1900. Total debits to the inventory account would be $1,900 Total debits to the inventory account would be $26.000