Gaston Co. reports the following amounts:

Total revenue in 2012	$100,000
Accounts Receivable at the end of 2012	$20,000
Accounts Receivable at the end of 2011	$30,000

Calculate the amount of cash collected from customers in 2012?

	a.	$130,000
	b.	$120,000
	c.	$110,000
	d.	$100,000
	e.	$90,000

Which of the following ratios measures the underlying risk of a company?

	a.	Return on assets
	b.	Asset turnover
	c.	Gross profit ratio
	d.	Debt to equity
	e.	Profit margin

Mayston Co. issued $10,000 shares of $0.01 par value stock for $20 per share. To record this transaction, Mayston will:

	a.	Credit Common Stock for $200,000
	b.	Debit Additional Paid-In Capital for $199,900
	c.	Credit Common Stock for $100
	d.	Credit Additional Paid-In Capital for $200,000
	e.	Debit Cash for $100

Distributions to stockholders are referred to as:

	a.	Dividends
	b.	Expenses
	c.	Common Stock
	d.	Cash
	e.	Additional Paid-In Capital

A company declares a dividend of $1 per share on December 1 for stockholders of record on December 15. Dividends are paid on December 31. What will happen on December 31?

	a.	The company will debit Dividends
	b.	The companys stock price will increase by $1 (all else equal)
	c.	The company will debit Dividends Payable
	d.	The companys stock price will decline by $1 (all else equal)
	e.	C and D will occur

Net income	$25,000
Depreciation Expense	$4,000
Increase in Accounts Receivable	$1,000
Issuance of common stock	$15,000
Decrease in Taxes Payable	$3,000
Sale of land	$20,000
Loss on the sale of land	$2,000
Payment of dividends	$5,000

Calculate the amount of operating cash flows:

	a.	$27,000
	b.	$57,000
	c.	$30,000
	d.	$35,000
	e.	$18,000

To calculate the value today of receiving $1,000 each year for the next 10 years, you would use which Table?

	a.	Table 1 - Future Value of $1
	b.	Table 2 - Present Value of $1
	c.	Table 3 - Future Value of an Annuity
	d.	Table 4 - Present Value of an Annuity
	e.	Table 5 - Market Value

Gaston Co. reports the following amounts:

Total interest expense in 2012	$100,000
Interest Payable at the end of 2012	$20,000
Interest Payable at the end of 2011	$30,000

Calculate the amount of cash paid for interest in 2012?

	a.	$130,000
	b.	$120,000
	c.	$110,000
	d.	$100,000
	e.	$90,000

An advantage of the corporate form of business is:

	a.	Easier to make a profit
	b.	Easier to raise debt capital
	c.	Limited double taxation
	d.	Limited regulation
	e.	Limited liability

The disadvantages of the corporate form of business include:

	a.	Ability to transfer ownership.
	b.	Additional taxes.
	c.	Limited liability.
	d.	Ability to raise capital.
	e.	None of the above.

if you could explain/show your work, that'd be greatly appreciated!