Can anyone help me to get right answers .whoever gonna help plz remember once I submit the answers can't change kindly pick the answers wisely

Question 2 of 30 Consider the following data: Silicon Valley Company purchased an asset on January 1 at a cost of $78,000. It is expected to be used for five years and have a salvage value of $8,000. Calculate the depreciation expense for each year of the asset's useful life under each of the following methods: Under the doubledecliningbalance method, the book value of the asset at the end of year 3 would be: $54,667 $36,000 $22,000 $16,848 $12,667 $8,000 None of these answers are correct $10,109 $28,080 $78,000 Question 3 of 30 Which of the following statements is true? In calculating the percentage of change (for a comparative financial statement), the amount for the year prior serves as the base. Quick assets include cash, temporary investments, and receivables. Merchandise inventory turnover measures the relationship between sales and inventory. Factors that reflect the ability of a business to pay its debts and earn a reasonable amount of income are referred to as solvency and profitability. The debttoequity ratio is calculated by dividing the net income for the year by the average stockholders' equity for the year. The current ratio is calculated by dividing total current assets by total liabilities. Question 4 of 30 Consider the following data: Silicon Valley Company purchased an asset on January 1 at a cost of $78,000. It is expected to be used for five years and have a salvage value of $8,000. Calculate the depreciation expense for each year of the asset's useful life under each of the following methods: Under the sumoftheyearsdigit method, the book value of the asset at the end of year 3 would be: $10,109 $16,848 $36,000 $22,000 $28,080 $54,667 $12,667 None of these answers are correct $78,000 $8,000 Question 5 of 30 If sales are $540,000, expenses are $440,000 and dividends are $50,000, what is the balance of income Summary prior to closing? It will have a debit balance of $100,000. None of these answers are correct It will have a credit balance of $100,000. It will have a debit balance of $50,000. It will have a credit balance of $50,000. Question 6 of 30 The adjusting entry to record an increase in Allowance for Bad Debts involves debiting Allowance for Bad Debts and crediting Accounts Receivable. debiting Accounts Receivable and crediting Bad Debt Expense. debiting Bad Debt Expense and crediting Allowance for Bad Debts. debiting Allowance for Bad Debts and crediting Bad Debt Expense. None of these answers are correct Question 7 of 30 Consider the following facts: Company A's accounting records at the end of the year shows the following: Purchase Discounts $5,600 Freight In $7,800 Purchases $201,000 Beginning Inventory $23,500 Ending Inventory $28,800 Purchase Returns $6,400 Company A uses the periodic inventory system. Company A's cost of goods purchased is: $196,800 $189,000 None of these answers are correct $202,100 $191,500 Question 8 of 30 Company A sold merchandise with a list price of $4,200 and costing $2,300 on account to Company B. The sale was subject to the following terms: FOB destination, 2/10, n/30. Company A prepays the freight costs of $85 (debit Delivery Expense for the freight costs). Prior to payment for the goods, Company A issues a credit memo for $750 to Company B for merchandise costing $425 that is returned. Company A received payment from Company B within the discount period. Company A uses a perpetual inventory system. Which of the following statements is true about the amount Company A receives from Company B for the sale? None of these answers are correct. The invoice amount is greater than $2,800 and less than $2,900. The invoice amount is greater than $3,200 and less than $3,300. The invoice amount is greater than $3,300 and less than $3,400. The invoice amount is greater than $3,400 and less than $3,500. The invoice amount is greater than $3,000 and less than $3,100. The invoice amount is greater than $3,100 and less than $3,200. The invoice amount is greater than $2,700 and less than $2,800. The invoice amount is greater than $3,500 and less than $3,600. The invoice amount is greater than $2,900 and less than $3,000. Question 9 of 30 Silicon Valley Company had cost of goods sold for the year of $1,600,000. Merchandise inventory at the beginning of the year was $195,000 and merchandise inventory at the end of the year was $205,000. The average number of days that the inventory was held during the year was 25.0 days 45.6 days 39.6 days 54.6 days None of these answers are correct. 8.0 days Question 10 of 30 The following information was available for Silicon Valley Company at December 31, 2016: Beginning inventory $90,000; Ending inventory $70,000; Cost of goods sold $656,000; Sales $900,000 Silicon Valley Company's days in inventory in 2016 was None of these answers are correct 44.5 38.8 50.0 32.3 Question 11 of 30 Which of the following accounts are decreased with a credit? Equipment Common Stock Rent Expense Fees Earned Unearned Revenue Wages Expense Accounts Payable Question 12 of 30 Consider the following facts: Company A has the following inventory information: Inventory at the beginning of January was 15 units purchased at $8.00 each. On January 8, purchased 60 units @ $8.30 each On January 17, purchased 30 units @ $8.40 each On January 25, purchased 45 units @ $8.80 each On January 31, a physical count showed 45 units on hand Company A uses the periodic inventory system Company A's ending inventory under FIFO is: $897 $870 $369 $396 None of these answers are correct Question 13 of 30 _______________ is the depreciation method using a fixed rate applied to the undepreciated cost of the asset each year, resulting in successively smaller depreciation charges as the undepreciated cost diminishes year by year. decliningbalance method MACRS straightline method unitsofproduction method None of these answers are correct. sumoftheyears'digit method Question 14 of 30 Which of the following is NOT a cash outflow from an operating activity? a payment to the government a withdrawal by the owners a payment for the acquisition of inventory a payment for interest on a loan All of these are cash outflows from operating activities. Question 15 of 30 Silicon Valley Company purchased a van at a cost of $42,000 and expects it can be sold for $6,000 after 120,000 miles of service. Assuming the units ofproduction method is used and the van is driven for 24,000 miles during the first year, the depreciation at the end of the first year would be None of these answers are correct. $4,200. $1,200. $7,200. $12,000. Question 16 of 30 At December 31, 2016, Company A has assets of $430,000 and liabilities of $205,000. Based on this information and your understanding of the accounting equation, which of the following statements are true? (There are multiple true statements and you must select only those that are true in order to get full credit for the question.) Total stockholders' equity at December 31, 2016 equals $225,000. Total stockholders' equity at December 31, 2016 equals $222,000. If the only changes in the company's account balances are an increase in assets of $12,000 and an increase in liabilities of $15,000 in 2017, then total stockholders' equity will equal $222,000 at December 31, 2017. If the only changes in the company's account balances are a decrease in assets of $8,000 and an increase in liabilities of $14,000 in 2017, then total stockholders' equity will equal $203,000 at December 31, 2017. If the only changes in the company's account balances are a decrease in assets of $18,000 and an increase in liabilities of $15,000 in 2017, then total stockholders' equity will equal $230,000 at December 31, 2017. Question 17 of 30 Consider the following situations for Company A: Situation #1: On the June 30 bank reconciliation, deposits in transit total $720. During July, the Cash account in the general ledger shows deposits of $15,750. The bank statement for July shows that $15,600 in deposits were received during the month. Situation #2: On the June 30 bank reconciliation, outstanding checks were $680. During the month of July, the Cash account in the general ledger shows that $17,200 of checks were issued. The bank statement showed that $16,400 of checks cleared the bank in July. Situation #3: In September, deposits per the bank statement totaled $26,700, deposits per books were $25,400, and deposits in transit at September 30 were $2,100. Situation #4: In September, cash disbursements per books were $23,700, checks clearing the bank were $25,000, and outstanding checks at September 30 were $2,100. In all 4 situations, there were no bank debit or credit memos. Also, no Cash account errors were made by either the bank of the company. In situation #3, the deposits in transit at August 31 were $ ___________. $3,400 $3,100 $2,100 None of these answers are correct $1,870 Question 18 of 30 Which of the following statements are true? (Select all choices that are true) The system of accounting where revenues are recorded when they are earned and expenses are recorded when they are incurred is called the cash basis of accounting. The matching concept requires expenses be recorded in the same period that the related revenue is recorded. The revenue recognition concept states that revenue should be recorded in the same period as the cash is received. The Unearned Revenues account is an example of a liability. Accounts payable are accounts that you expect will be paid to you. Question 19 of 30 Two companies report the same cost of goods available for sale but each employs a different inventory costing method. If the price of goods has increased during the period, then the company using FIFO will have the highest cost of good sold. LIFO will have the highest ending inventory. LIFO will have the lowest cost of goods sold. None of these answers are correct FIFO will have the highest ending inventory. Question 20 of 30 Cash dividends of $50,000 were declared during the year. Cash dividends payable were $10,000 and $5,000 at the beginning and end of the year, respectively. The amount of cash for the payment of dividends during the year is $50,000 $55,000 $60,000 None of these answers are correct. $65,000 Question 21 of 30 Those transactions dealing with the exchange of cash between the firm and its owners (stockholders) and creditors are called financing activities. operating activities. planning activities. investing activities. Noncash activities Question 22 of 30 The following information is from the accounting records of Company A for the fiscal year ended March 31, 2016. Company A uses the periodic inventory system for its inventory recordkeeping: Merchandise inventory, April 1, 2015: $193,250 Merchandise inventory, March 31, 2016: $180,100 Purchases for the fiscal year: $1,079,600 Purchases returns and allowances for the fiscal year: $51,200 Purchases discounts for the fiscal year: $18,500 Sales for the fiscal year: $1,860,000 Freightin for the fiscal year: $19,250 Which of the following statements is true about the total cost of merchandise purchased for the fiscal year for Company A? It is greater than $1,500,000 and less than $1,600,000. It is greater than $1,200,000 and less than $1,300,000. It is greater than $1,600,000 and less than $1,700,000. It is greater than $1,000,000 and less than $1,100,000. None of these answers are correct. It is greater than $800,000 and less than $900,000. It is greater than $1,300,000 and less than $1,400,000. It is greater than $900,000 and less than $1,000,000. It is greater than $1,400,000 and less than $1,500,000. It is greater than $1,100,000 and less than $1,200,000. Question 23 of 30 Consider the following situations for Company A: Situation #1: On the June 30 bank reconciliation, deposits in transit total $720. During July, the Cash account in the general ledger shows deposits of $15,750. The bank statement for July shows that $15,600 in deposits were received during the month. Situation #2: On the June 30 bank reconciliation, outstanding checks were $680. During the month of July, the Cash account in the general ledger shows that $17,200 of checks were issued. The bank statement showed that $16,400 of checks cleared the bank in July. Situation #3: In September, deposits per the bank statement totaled $26,700, deposits per books were $25,400, and deposits in transit at September 30 were $2,100. Situation #4: In September, cash disbursements per books were $23,700, checks clearing the bank were $25,000, and outstanding checks at September 30 were $2,100. In all 4 situations, there were no bank debit or credit memos. Also, no Cash account errors were made by either the bank of the company. In situation #2, the outstanding checks at July 31 were $ ___________. $1,540 None of these answers are correct $1,870 $1,480 $2,100 Question 24 of 30 If Silicon Valley Company has 6,000 shares of common stock outstanding and the total common stockholders' equity is $1,500,000. The book value per share of common stock is None of these answers are correct. $4.00 $25.00 $2.50 $.004 $.250.00 Question 25 of 30 Which of the following statements are true? All of these statements are true. Cash dividends paid on capital stock would be reported in the statement of cash flows in the cash flows from financing activities section. The purchase of noncurrent assets would be reported as a cash flow from investing activities on the statement of cash flows. On the statement of cash flows, investing activities would include any receipts from the issuance of bonds payable. Cash dividends paid on capital stock would not be reported in the statement of cash flows in the cash flows from investing activities section. On the statement of cash flows, the cash flows from financing activities section would include receipts from a note receivable. Question 27 of 30 Silicon Valley Company has net sales on account of $1,200,000. Net accounts receivable at the beginning of the year are $500,000 and net accounts receivable at the end of the year are $700,000. The average number of days that the accounts receivables were on the books was 182.5 days. 304.0 days. 8.7 days. None of these answers are correct. 439.8 days. Question 29 of 30 Which of the following statements is true? Dividing the net income for the year by the average number of common shares outstanding during the year (if only common stock is outstanding) is the calculation for the book value per share. Dividing cost of goods sold by the average of merchandise inventory is the calculation for the merchandise inventory turnover. Dividing the net income for the year by the average assets for the year is the calculation for the earnings per share. The net income for the year ended was $300,000. Common stockholders' equity at the beginning of the year was $1,400,000 and $1,600,000 at the end of the year. The return on common stockholders' equity would be 21.43%. A corporation has 2,000 shares of $50 par, 10% preferred stock, and 6,000 shares of common stock outstanding. The net income for the year is $250,000. The earnings per share of common stock would be $40.00. Dividing quick assets by current liabilities is the calculation for the acidtest ratio. Question 30 of 30 Which of the following statements are true? (Select all choices that are true) The entry to record the payment of dividends would be: debit Dividends credit Cash The statement of cash flows reports information as a specific date. Salary owed but not yet paid is an example of an accrued expense. The process of initially recording a business transaction is called journalizing. liabilities are reported on the statement of retained earnings.