Baseball Town, Inc. borrowed $20,000 for 9 months at an APR of 3.00%. The amount of interest expense on this loan was: (round to the nearest dollar)

In January of 2016, SC, Inc. had 300,000 shares of common stock authorized, of which have been 200,000 issued, and 150,000 shares outstanding. The board of directors of SC, Inc. approved a 2% stock dividend in February, 2016. After the stock dividend is processed, which of the following is a false statement at the end of February, 2016?

The annual per share dividend requirement of a 5.0%, $100 par value preferred stock that was issued for $102 is:

Depreciation expense totaled $15,000 for the year; accrued wages decreased $2,000; a new car was purchased for $35,000; accounts receivable increased $7,000; payments on long term debt amounted to $15,000; accounts payable increased $4,000; net income was $65,000 for the year; proceeds from the issuance of common stock were $45,000; dividends paid totaled $7,500; inventory decreased $8,000; What was the net cash provided by operating activities? (don't include cents - round to the nearest dollar)

An item that cost $15,000 is sold for $24,000. The gross profit ratio for this item is:

The declaration date of a cash dividend declared by the board of directors' requires the following journal entry:

Dr. Retained Earnings XXXXX

Cr. Cash XXXXXX

Is that True or False?

In July, as you are reviewing the June monthly financial statements, you notice that the company has not paid for their June utility bill. You need to adjust the June statements to reflect the utility expense. When preparing the entry to record this expense, your entry would include:

Which of the following is not usually associated with bonds?

Coupon rate of interest.

Maturity rate of interest.

Face value.

Maturity value.

The liability for product warranty claims is an example of a liability that has been calculated using estimates:

True.

False.

Which of the following would affect total retained earnings?

Net Income or net loss.

Stock Dividends.

Cash Dividends.

All of the above would affect total retained earnings.

only b and c

The number of shares of a class of stock that are outstanding is:

the number of shares authorized minus the number of shares issued.

the number of shares authorized minus the number of shares held in the treasury.

the number of shares issued minus the number of shares held in the treasury.

the number of shares issued minus the number of shares owned by directors