I need this quiz answered asap. Let me know how can we sort this out since it is too long.

Refer to the following selected nancial information from McCormik, LLC. Compute the company's working capital for Year 2. Year 2 Year 1 Cash $37,500 36,850 Shortterm investments 90,000 90,000 Accounts receivable, net 85,500 86,250 Merchandise inventory 121,000 117,000 Prepaid expenses 12,100 13,500 Plant assets 388,000 392,000 Accounts payable 113,400 111.750 Net sales 711,000 706,000 Cost of goods sold 390,000 385,500 0 $147,200. 0 $142,700. 0 $220,600. 0 $111,700. 0 $232,700. Question 5 2.5 pts Use the following selected information from Wheeier, LLC to determine the 2017 and 2016 common size percentages for cost of goods sold using Net saies as the base. Cost of goods sold Operati ng expenses 2017 2016 $276,200 151,900 55,240 O 65.1% for 2017 and 56.0% for 2016. O 36.4% for 2017 and 41.1% for 2016. 0 117.2% for 2017 and 100.0% for 2016. O 55.0% for 2017 and 56.0% for 2016. 0 119.4% for 2017 and 100.0% for 2016. 27,820 $231,400 129,590 53,240 19,820 Refer to the following selected nancial information from McCormik, LLC. Compute the company's inventory turnover for Year 2. O 3.86. O 4.33. O 5.73. O 3.23. O 4.72. Question 30 2.5 pts On January 1 of Year 1, Congo Express Airways issued $3,500,000 of 7% bonds that pay interest semiannually on January 1 and July 1. The bond issue price is $3,197,389 and the market rate of interest for similar bonds is 8%. The bond premium or discount is being amortized at a rate of $10,087 every six months.After accruing interest at year end, the company's December 31, Year 1 balance sheet should reect total liabilities associated with the bond issue in the amount of: 0 $3,902,500. 0 $3,782,437. 0 $3,780,000. 0 $3,217,563. 0 $3,340,063. Question 11 2.5 pts On January 1, a company issued and sold a $400,000, 7%, 10-year bond payable, and received proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The carrying value of the bonds immediately after the rst interest payment is: 0 $400,000. 0 $396,200. 0 $399,800. 0 $400,200. 0 $395,800. D Question 21 2.5 pts Noncash investing and nancing activities may be disclosed in: O The nancing activities section of the statement of cash ows. O The reconciliation of cash balance section. 0 The operating activities section of the statement of cash ows. 0 A note in the nancial statements or a schedule attached to the statement of cash ows. 0 The investing activities section of the statement of cash ows. Question 31 2.5 pts Yeats Corporation's sales in Year 1 were $396,000 and in Year 2 were $380,000. Using Year 1 as the base year, the percent change for Year 2 compared to the base year is: O 4% O 96% O 100% O -104% O 4.2% D Question 15 2.5 pts The purchase of long-term assets by issuing a note payable for the entire amount is reported on the statement of cash ows in the: O Operating activities. 0 Schedule of noncash nancing and investing activities. 0 Financing activities. 0 Reconciliation of cash balance. 0 Investing activities. D Question 25 2.5 pts A company had net income of $40,000, net sales of $300,000, and average total assets of $200,000. Its prot margin and total asset turnover were respectively: 0 2.0%; 1.5. O 13.3%; 0.2. O 1.5%; 13.3. 0 1.5%; 0.2. O 13.3%; 1.5. Question 35 2.5 pts The appropriate section in the statement of cash ows for reporting the receipt of cash dividends from investments in securities is: O This is not reported on the statement of cash ows. 0 Financing activities. 0 Investing activities. 0 Schedule of noncash investing or nancing activity. 0 Operating activities. Question 22 2.5 pts Stormer Company reports the following amounts on its statement of cash ow: Net cash provided by operating activities was $28,000; net cash used in investing activities was $10,000 and net cash used in nancing activities was $12,000. If the beginning cash balance is $5,000, what is the ending cash balance? 0 $31,000. 0 $55,000. O $45,000. O $6,000. O $11,000. Question 12 2.5 pts The accountant for Mandarin Company is preparing the company's statement of cash ows for the scal yearjust ended. The following information is available: Retained earnings balance at the beginning of the year Net income for the year Cash dividends declared for the year Retained earnings balance at the end of the year Cash dividends payable at the beginning of the year Cash dividends payable at the end of the year What is the amount of cash dividends paid that should be reported in the nancing section of the statement of cash ows? 0 $42,000. 0 $41,000. 0 $1,000. O $43,000. 0 $63,000. $819,000 230,000 42,000 1,007,000 10,000 11,000 D Question 34 2.5 pts When using the indirect method to calculate and report the net cash provided or used by operating activities, net income is adjusted for all but which of the following? 0 Gains and losses from nonoperating items. 0 Changes in current liabilities related to operating activities. O Changes in noncurrent assets and noncurrent liabilities. O Depreciation and amortization expense. O Revenues and expenses that did not provide or use cash. D Question 32 2.5 pts The indirect method separately lists each major item of operating cash receipts and cash payments. 0 True 0 False _ Rajan Company's most recent balance sheet reported total assets of $1.9 million, total liabilities of $0.8 million, and total equity of $1.1 million. Its Debt to equity ratio is: Question 26 2.5 pts On July 1, Shady Creek Resort borrowed $250,000 cash by signing a 10-year, 8% installment note requiring equal payments each June 30 of $37,258. What is the journal entry to record the rst annual payment? O Debit Cash $250,000; debit Interest Expense $37,258; credit Notes Payable $287,258. O Debit Interest Expense $20,000; debit Interest Payable $17,258; credit Cash $37,258. 0 Debit Interest Expense $20,000; debit Notes Payable $17,258; credit Cash $37,258. O Debit Interest Expense $20,000; credit Cash $20,000. 0 Debit Interest Expense $37,258; credit Cash $37,258. D Question 36 2.5 pts Barnes Company purchased $50,000 of 8% bonds at par. The bonds mature in six years and are a held-to- maturity security. Which of the following is the correctjournal entry to record the receipt of the semiannual interest payment? 0 debit Cash, $4,000; credit Long-Term InvestmentsHTM, $4,000. O debit Cash, $4,000; credit Unrealized Gain- Equity, $4,000. 0 debit Cash, $2,000; credit Interest Revenue, $2,000. O debt Cash, $2,000; credit Long-Term InvestmentsHTM, $2000. 0 debit Unrealized GainEquity, $2,000; credit Cash, $2,000. Question 13 2.5 pts When a negative amount is in the base period and a positive amount is in the analysis period (or vice versa), a meaningful percent change cannot be calculated. Question 23 2.5 pts Landmark buys $300,000 of Schroeter Company's 8%, 5-year bonds payable at par value on September 1. Interest payments are made semiannually on March 1 and September 1. The journal entry Landmark should record to accrue interest earned at year-end December 31 is: 0 Debit Cash $8,000, credit Interest Revenue $8,000. O Debit Interest Receivable $8,000, credit Interest Revenue $8,000. 0 Debit Interest Receivable $12,000, credit Interest Revenue $12,000. 0 Debit Cash $12,000, credit Interest Revenue $12,000. O Debit Interest Revenue $8,000, credit Interest Receivable $8,000. D Available-for-sale debt securities are: 0 Always classied as Long-Term Investments. 0 Intended to be held to maturity. 0 Reported at fair value on the balance sheet. 0 Recorded at cost and remain at cost over the life of the investment. O Reported at historical cost, adjusted for the amortized amount of any difference between cost and maturity value. Question 7 2.5 pts Which of the following statements is true? 0 Dividends to stockholders are tax deductible. O Bonds always increase return on equity. 0 Bonds do not have to be repaid. 0 Interest on bonds is tax deductible. 0 Interest on bonds is not tax deductible. Question 27 2.5 pts Landmark Corp. buys $300,000 of Schroeter Company's 8%, 5-year bonds at par value on September 1. Interest payments are made semiannually. All of the following regarding accounting for the securities are true except: O The semiannual interest payment amount is $12,000. O Interest Revenue should be credited when an interest payment is received. O The semiannual interest payment amount is $24,000. O The securities will have a maturity value of $300,000. O The debt securities should be recorded at cost, $300,000. Question 6 2.5 pts Industry standards for nancial statement analysis: O Compare a company's income with its prior year's income. 0 Are based on rules of thumb. Q Are based on a single competitor's nancial performance. 0 Are set by the government. 0 Are available for the nancial performance and condition of the company's industry. D Question 18 2.5 pts A company's total liabilities divided by its total stockholders' equity is called the: 0 Times secured liabilities earned ratio. O De bt-to-equity ratio. 0 Pledged assets to secured liabilities ratio. 0 Return on total assets ratio. O Equity ratio. D Question 8 2.5 pts Short-term investments: 0 Include stocks not intended to be converted into cash. 0 Include bonds not intended to be converted into cash. 0 Are securities that management intends to convert to cash within the longer of one year or the current operating cycle, and are readily convertible to cash. 0 Include funds earmarked for a special purpose such as bond sinking funds. 0 Include sinking funds not intended to be converted into cash. Question 2 2.5 pts Held-to-maturity securities are equity securities a company intends and is able to hold until maturity. O True O False Question 37 2.5 pts Since it is recommended by the FASB, the direct method of preparing the statement of cash ows is most frequently used. 0 True 0 False Question 19 2.5 pts Bonds that have an option exercisable by the issuer to retire them at a stated dollar amount prior to maturity are known as: O Sinking fund bonds. 0 Junk bonds. O Serial bonds. 0 Convertible bonds. O Callable bonds. Question 29 2.5 pts A company's board of directors analyzes nancial statements to assess future company prospects for making operating decisions. Question 39 2.5 pts A bond with a par value of $1,000 trading at 1011/2 sells for a premium. 0 True O False D Question 10 2.5 pts A company holds $40,000 of 7% bonds as a held-to- maturity security. The journal entry to record receipt of a semiannual interest payment includes a debit to Cash for $2,800 and a credit to Interest Revenue for $2,800. 0 True 0 False _ Dividing Accounts receivable, net by Net sales and multiplying the result by 365 is the: O Accounts receivable turnover ratio. 0 Days' sales uncollected. 0 Prot margin. O Current ratio. 0 Average accounts receivable ratio. Question 24 2.5 pts The direct method for the preparation of the operating activities section of the statement of cash ows: 0 Separately lists each major item of operating cash receipts and cash payments. C) Is required by the FASB. O Reports a different amount of cash ows from operations than if the indirect method is used. 0 Reports adjustments to reconcile net income to net cash provided or used by operating activities in the statement. 0 Is required if the company is a merchandiser. Question 11 2.5 pts On January 1, a company issued and sold a $400,000, 7%, 10-year bond payable, and received proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The carrying value of the bonds immediately after the rst interest payment is: 0 $400,000. 0 $396,200. 0 $399,800. 0 $400,200. 0 $395,800. \fQuestion 17 2.5 pts A lessee has substantially all of the benets and risks of ownership in an operating lease. Question Link https://www.coursehero.com/qa/attachment/2372247 https://www.coursehero.com/qa/attachment/2372253 https://www.coursehero.com/qa/attachment/2372246 https://www.coursehero.com/qa/attachment/2372291 https://www.coursehero.com/qa/attachment/2372299 https://www.coursehero.com/qa/attachment/2372258 https://www.coursehero.com/qa/attachment/2372254 https://www.coursehero.com/qa/attachment/2372245 https://www.coursehero.com/qa/attachment/2372288 https://www.coursehero.com/qa/attachment/2372280 https://www.coursehero.com/qa/attachment/2372268 https://www.coursehero.com/qa/attachment/2372261 https://www.coursehero.com/qa/attachment/2372244 https://www.coursehero.com/qa/attachment/2372274 https://www.coursehero.com/qa/attachment/2372264 https://www.coursehero.com/qa/attachment/2374571 https://www.coursehero.com/qa/attachment/2372255 https://www.coursehero.com/qa/attachment/2372298 https://www.coursehero.com/qa/attachment/2372285 https://www.coursehero.com/qa/attachment/2372278 https://www.coursehero.com/qa/attachment/2372269 https://www.coursehero.com/qa/attachment/2372260 https://www.coursehero.com/qa/attachment/2372249 https://www.coursehero.com/qa/attachment/2372272 https://www.coursehero.com/qa/attachment/2372263 https://www.coursehero.com/qa/attachment/2372256 https://www.coursehero.com/qa/attachment/2372243 https://www.coursehero.com/qa/attachment/2372294 https://www.coursehero.com/qa/attachment/2372282 https://www.coursehero.com/qa/attachment/2372275 https://www.coursehero.com/qa/attachment/2372265 https://www.coursehero.com/qa/attachment/2372259 https://www.coursehero.com/qa/attachment/2372300 https://www.coursehero.com/qa/attachment/2372271 https://www.coursehero.com/qa/attachment/2372262 https://www.coursehero.com/qa/attachment/2372252 https://www.coursehero.com/qa/attachment/2372293 https://www.coursehero.com/qa/attachment/2372243 https://www.coursehero.com/qa/attachment/2372241 https://www.coursehero.com/qa/attachment/2372250 https://www.coursehero.com/qa/attachment/2374571 Question No 1 2 3 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 39 40 Not Given Not Given Answer in Sheet No 34 26 35 2 23 21 25 36 31 5 12 18 37 8 15 24 28 32 6 11 19 33 9 16 22 38 29 4 7 14 20 13 10 17 27 30 39 1 3 Please Check Sheet No to get the answer and Computaion ...Thank You https://www.coursehero.com/qa/attachment/2372241 Answer is 232700 Working Capital =Current Asset -Current Liabilities Current Asset Current Liabilities Working Capital 346100 113400 232700 Question Link Answer is https://www.coursehero.com/qa/attachment/2372253 Question No 55.0% for 2017 and 56.0% for 2016 Sales Cost of Goods sold Operating Expense 2 2017 % 276200 100.0% 151900 55.0% 55240 20.0% 2016 % 231400 100.0% 129590 56.0% 53240 23.0% Question Link Question No Answer is Inventory Turnover Ratio https://www.coursehero.com/qa/attachment/2372250 3 Inventory Turnover Ratio Cost of Goods Sold/Average Inventory Inventory Turnover Ratio 3.28 3.28 Question Link Question No https://www.coursehero.com/qa/attachment/2372291 5 Total Liabilitirs Asociated with the Bond Issue 3217563 Answer Bond Payable Less Issue price Discount On issue Discount Amortized Unamortized Disocunt 3500000 3197389 302611 20174 282437 2914952 ent/2372291 Question Link Question No Answer is Face value Issue Value Bond Discount Disount Amortized Carrying Value of bond https://www.coursehero.com/qa/attachment/2372299 11 396200 400000 396000 4000 200 396200 Question No Question Link Answer 21 https://www.coursehero.com/qa/attachment/2372258 A note in The Financial Statement or a Schedule attached to statement of Cash flow Question Link Question No Answer https://www.coursehero.com/qa/attachment/2372254 31 -4% Year 2 Year1 Change % change 380000 396000 -16000 -4% https://www.coursehero.com/qa/attachment/2372245 Question N 3 15 Answer Schedule of Non Cash Financing and Investing Activities https://www.coursehero.com/qa/attachment/2372272 Question No Answer Profit Margin Total Asset Turnover 25 13.3 %, 1.5 13.3% 1.5 https://www.coursehero.com/qa/attachment/2372271 Question N 35 Answer Investing Activities https://www.coursehero.com/qa/attachment/2372269 Question No Answer Net Cash from Operating Activity Net Cash Used in Investing Activities Net Cash Used in Finanace Activities Increase in Cash Beginning Cash balance Ending Cash Balance 22 11000 28000 -10000 -12000 6000 5000 11000 https://www.coursehero.com/qa/attachment/2372268 Question No Answer 12 41000 Dividend Payable at the Beginning Add Dividend Declared Less Divided Payable at the End Divided Paid 10000 42000 11000 41000 https://www.coursehero.com/qa/attachment/2372300 Question No Answer Revenue and Expense That Did not provide or use Cash 34 https://www.coursehero.com/qa/attachment/2372265 Question No Answer 32 0 Question No 16 https://www.coursehero.com/qa/attachment/2372264 Answer Debt equity ratio 0.73 https://www.coursehero.com/qa/attachment/2372263 Question N 26 Answer Debit Interest Expense 20000 debit Note Payable 17258 credit cash 37258 DR Interest Expense Note Payable Cash CR 20000 17258 37258 https://www.coursehero.com/qa/attachment/2372262 Question N 36 Debit Cash $200 credit Interest Revenue $2000 Cash 2000 Interest Revenue 2000 https://www.coursehero.com/qa/attachment/2372261 Question N 13 Answer is 1 https://www.coursehero.com/qa/attachment/2372260 Question No Answer is Debit Interest recivable 8000 and Credit Interest revenue 8000 DR Interest Receivable Interest Revenue 8000 8000 https://www.coursehero.com/qa/attachment/2372259 Question N 33 https://www.coursehero.com/qa/attachment/2372258 Question N 7 Interest on Bond is Tax Deductible https://www.coursehero.com/qa/attachment/2372256 Question No Answer The Semiannual Interest payment amount is 24000 27 https://www.coursehero.com/qa/attachment/2372299 Question No 6 Answer Are available for the financial performance and condition of the company's industry Question No 18 https://www.coursehero.com/qa/attachment/2372255 Answer Debt Equity Ratio Question N 8 https://www.coursehero.com/qa/attachment/2372254 Answer Are Securties that management intends to convert to cash winthin the longer of one year or.... Question N 2 https://www.coursehero.com/qa/attachment/2372253 Answer is 1 Question N 37 https://www.coursehero.com/qa/attachment/2372252 Answer 0 Question N 19 https://www.coursehero.com/qa/attachment/2372298 Callable Bond Question N 29 https://www.coursehero.com/qa/attachment/2372294 Answer 0 Question N 39 https://www.coursehero.com/qa/attachment/2372293 Answer 1 Question N 10 https://www.coursehero.com/qa/attachment/2372288 Answer 0 1400 Question N 20 https://www.coursehero.com/qa/attachment/2372285 Answer Days Sales Uncollected Question N 24 https://www.coursehero.com/qa/attachment/2372249 Answer Seperately list each major item of operating cash recipts and cash Payment Question No https://www.coursehero.com/qa/attachment/2372247 Answer 1 Debit Cash, $9,000; credit Long-Term Investments, $9,000. Question N 3 https://www.coursehero.com/qa/attachment/2372246 Answer Debit Cash$300,000 Credit Long term Investment-HTM $300000 Question N 9 https://www.coursehero.com/qa/attachment/2372245 Use of the fair value option to account for bonds and notes is not acceptable under U.S. GAAP or IFRS S. GAAP or IFRS Question N 14 Answer 1085308 https://www.coursehero.com/qa/attachment/2372244 PV of Inters 40000 8.5302 341208 PV of Matur 1000000 0.744094 744093.9 Value of bond 1085302 Question N Answer is 28 957355 PV of Inters 25000 8.5302 213255 PV of Matur 1000000 0.744094 744093.9 Value of bond 957348.9 Question No Answer 40 https://www.coursehero.com/qa/attachment/2372242 Debit Interest Expense 15620.70 crdit disocount on bnd payable 1620.70 credit cash 14000 Par Value Sale value Disocount 400000 383793 16207 Discount Amortized 1620.7 14000 1620.70 credit cash 14000 https://www.coursehero.com/qa/attachment/2374571 Qestion No 17 Answer is 0 Question 30 0 / 2.5 pts On January 1 of Year 1, Congo Express Airways issued $3,500,000 of 7% bonds that pay interest semiannually on January 1 and July 1. The bond issue price is $3,197,389 and the market rate of interest for similar bonds is 8%. The bond premium or discount is being amortized at a rate of $10,087 every six months.After accruing interest at year end, the company's December 31, Year 1 balance sheet should reect total liabilities associated with the bond issue in the amount of: $3,902,500. $3,782,437. $3,780,000. You Answered . $3,217,563. Discount on Bonds Payable, Begin $302,61 1 Less Year 1 amortization 20,174 (10,087 * 2) = 20,174 Unamorb'zed Discount, Endingr $282,437 Par Value of the bonds $3,500,000 Unamortized discount 282,437 Carrying Value of bonds $3,217,563 + lnterest accrual on Dec. 31 122,500 ($3,500,000 * 7% * 6/ 12) $3,340,063 Correct Answer '2 $3,340,063. Question 34 0 / 2.5 pts When using the indirect method to calculate and report the net cash provided or used by operating activities, net income is adjusted for all but which of the following? Gains and losses from nonoperating items. Changes in current liabilities related to operating activities. Owe": Answer ' 7' Changes in noncurrent assets and noncurrent liabilities. Depreciation and amortization expense. Y0\" Answere'j ' Revenues and expenses that did not provide or use cash. Question 35 The appropriate section in the statement of cash ows for reporting the receipt of cash dividends from investments in securities is: This is not reported on the statement of cash ows. Financing activities. 5 Investing activities. You Answered Schedule of noncash investing or nancing activity. Correct Answer Operating activities Question 11 2.5 pts On January 1, a company issued and sold a $400,000, 7%, 10-year bond payable, and received proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The carrying value of the bonds immediately after the rst interest payment is: 0 $400,000. 0 $396,200. 0 $399,800. 0 $400,200. 0 $395,800. \fQuestion 17 2.5 pts A lessee has substantially all of the benets and risks of ownership in an operating lease. Question Link https://www.coursehero.com/qa/attachment/2372247 https://www.coursehero.com/qa/attachment/2372253 https://www.coursehero.com/qa/attachment/2372246 https://www.coursehero.com/qa/attachment/2372291 https://www.coursehero.com/qa/attachment/2372299 https://www.coursehero.com/qa/attachment/2372258 https://www.coursehero.com/qa/attachment/2372254 https://www.coursehero.com/qa/attachment/2372245 https://www.coursehero.com/qa/attachment/2372288 https://www.coursehero.com/qa/attachment/2372280 https://www.coursehero.com/qa/attachment/2372268 https://www.coursehero.com/qa/attachment/2372261 https://www.coursehero.com/qa/attachment/2372244 https://www.coursehero.com/qa/attachment/2372274 https://www.coursehero.com/qa/attachment/2372264 https://www.coursehero.com/qa/attachment/2374571 https://www.coursehero.com/qa/attachment/2372255 https://www.coursehero.com/qa/attachment/2372298 https://www.coursehero.com/qa/attachment/2372285 https://www.coursehero.com/qa/attachment/2372278 https://www.coursehero.com/qa/attachment/2372269 https://www.coursehero.com/qa/attachment/2372260 https://www.coursehero.com/qa/attachment/2372249 https://www.coursehero.com/qa/attachment/2372272 https://www.coursehero.com/qa/attachment/2372263 https://www.coursehero.com/qa/attachment/2372256 https://www.coursehero.com/qa/attachment/2372243 https://www.coursehero.com/qa/attachment/2372294 https://www.coursehero.com/qa/attachment/2372282 https://www.coursehero.com/qa/attachment/2372275 https://www.coursehero.com/qa/attachment/2372265 https://www.coursehero.com/qa/attachment/2372259 https://www.coursehero.com/qa/attachment/2372300 https://www.coursehero.com/qa/attachment/2372271 https://www.coursehero.com/qa/attachment/2372262 https://www.coursehero.com/qa/attachment/2372252 https://www.coursehero.com/qa/attachment/2372293 https://www.coursehero.com/qa/attachment/2372243 https://www.coursehero.com/qa/attachment/2372241 https://www.coursehero.com/qa/attachment/2372250 https://www.coursehero.com/qa/attachment/2374571 Question No 1 2 3 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 39 40 Not Given Not Given Answer in Sheet No 34 26 35 2 23 21 25 36 31 5 12 18 37 8 15 24 28 32 6 11 19 33 9 16 22 38 29 4 7 14 20 13 10 17 27 30 39 1 3 Please Check Sheet No to get the answer and Computaion ...Thank You https://www.coursehero.com/qa/attachment/2372241 Answer is 232700 Working Capital =Current Asset -Current Liabilities Current Asset Current Liabilities Working Capital 346100 113400 232700 Question Link Answer is https://www.coursehero.com/qa/attachment/2372253 Question No 55.0% for 2017 and 56.0% for 2016 Sales Cost of Goods sold Operating Expense 2 2017 % 276200 100.0% 151900 55.0% 55240 20.0% 2016 % 231400 100.0% 129590 56.0% 53240 23.0% Question Link Question No Answer is Inventory Turnover Ratio https://www.coursehero.com/qa/attachment/2372250 3 Inventory Turnover Ratio Cost of Goods Sold/Average Inventory Inventory Turnover Ratio 3.28 3.28 Question Link Question No https://www.coursehero.com/qa/attachment/2372291 5 Total Liabilitirs Asociated with the Bond Issue 3217563 Answer Bond Payable Less Issue price Discount On issue Discount Amortized Unamortized Disocunt 3500000 3197389 302611 20174 282437 2914952 ent/2372291 Question Link Question No Answer is Face value Issue Value Bond Discount Disount Amortized Carrying Value of bond https://www.coursehero.com/qa/attachment/2372299 11 396200 400000 396000 4000 200 396200 Question No Question Link Answer 21 https://www.coursehero.com/qa/attachment/2372258 A note in The Financial Statement or a Schedule attached to statement of Cash flow Question Link Question No Answer https://www.coursehero.com/qa/attachment/2372254 31 -4% Year 2 Year1 Change % change 380000 396000 -16000 -4% https://www.coursehero.com/qa/attachment/2372245 Question N 3 15 Answer Schedule of Non Cash Financing and Investing Activities https://www.coursehero.com/qa/attachment/2372272 Question No Answer Profit Margin Total Asset Turnover 25 13.3 %, 1.5 13.3% 1.5 https://www.coursehero.com/qa/attachment/2372271 Question N 35 Answer Investing Activities https://www.coursehero.com/qa/attachment/2372269 Question No Answer Net Cash from Operating Activity Net Cash Used in Investing Activities Net Cash Used in Finanace Activities Increase in Cash Beginning Cash balance Ending Cash Balance 22 11000 28000 -10000 -12000 6000 5000 11000 https://www.coursehero.com/qa/attachment/2372268 Question No Answer 12 41000 Dividend Payable at the Beginning Add Dividend Declared Less Divided Payable at the End Divided Paid 10000 42000 11000 41000 https://www.coursehero.com/qa/attachment/2372300 Question No Answer Revenue and Expense That Did not provide or use Cash 34 https://www.coursehero.com/qa/attachment/2372265 Question No Answer 32 0 Question No 16 https://www.coursehero.com/qa/attachment/2372264 Answer Debt equity ratio 0.73 https://www.coursehero.com/qa/attachment/2372263 Question N 26 Answer Debit Interest Expense 20000 debit Note Payable 17258 credit cash 37258 DR Interest Expense Note Payable Cash CR 20000 17258 37258 https://www.coursehero.com/qa/attachment/2372262 Question N 36 Debit Cash $200 credit Interest Revenue $2000 Cash 2000 Interest Revenue 2000 https://www.coursehero.com/qa/attachment/2372261 Question N 13 Answer is 1 https://www.coursehero.com/qa/attachment/2372260 Question No Answer is Debit Interest recivable 8000 and Credit Interest revenue 8000 DR Interest Receivable Interest Revenue 8000 8000 https://www.coursehero.com/qa/attachment/2372259 Question N 33 https://www.coursehero.com/qa/attachment/2372258 Question N 7 Interest on Bond is Tax Deductible https://www.coursehero.com/qa/attachment/2372256 Question No Answer The Semiannual Interest payment amount is 24000 27 https://www.coursehero.com/qa/attachment/2372299 Question No 6 Answer Are available for the financial performance and condition of the company's industry Question No 18 https://www.coursehero.com/qa/attachment/2372255 Answer Debt Equity Ratio Question N 8 https://www.coursehero.com/qa/attachment/2372254 Answer Are Securties that management intends to convert to cash winthin the longer of one year or.... Question N 2 https://www.coursehero.com/qa/attachment/2372253 Answer is 1 Question N 37 https://www.coursehero.com/qa/attachment/2372252 Answer 0 Question N 19 https://www.coursehero.com/qa/attachment/2372298 Callable Bond Question N 29 https://www.coursehero.com/qa/attachment/2372294 Answer 0 Question N 39 https://www.coursehero.com/qa/attachment/2372293 Answer 1 Question N 10 https://www.coursehero.com/qa/attachment/2372288 Answer 0 1400 Question N 20 https://www.coursehero.com/qa/attachment/2372285 Answer Days Sales Uncollected Question N 24 https://www.coursehero.com/qa/attachment/2372249 Answer Seperately list each major item of operating cash recipts and cash Payment Question No https://www.coursehero.com/qa/attachment/2372247 Answer 1 Debit Cash, $9,000; credit Long-Term Investments, $9,000. Question N 3 https://www.coursehero.com/qa/attachment/2372246 Answer Debit Cash$300,000 Credit Long term Investment-HTM $300000 Question N 9 https://www.coursehero.com/qa/attachment/2372245 Use of the fair value option to account for bonds and notes is not acceptable under U.S. GAAP or IFRS S. GAAP or IFRS Question N 14 Answer 1085308 https://www.coursehero.com/qa/attachment/2372244 PV of Inters 40000 8.5302 341208 PV of Matur 1000000 0.744094 744093.9 Value of bond 1085302 Question N Answer is 28 957355 PV of Inters 25000 8.5302 213255 PV of Matur 1000000 0.744094 744093.9 Value of bond 957348.9 Question No Answer 40 https://www.coursehero.com/qa/attachment/2372242 Debit Interest Expense 15620.70 crdit disocount on bnd payable 1620.70 credit cash 14000 Par Value Sale value Disocount 400000 383793 16207 Discount Amortized 1620.7 14000 1620.70 credit cash 14000 https://www.coursehero.com/qa/attachment/2374571 Qestion No 17 Answer is 0 Question 30 0 / 2.5 pts On January 1 of Year 1, Congo Express Airways issued $3,500,000 of 7% bonds that pay interest semiannually on January 1 and July 1. The bond issue price is $3,197,389 and the market rate of interest for similar bonds is 8%. The bond premium or discount is being amortized at a rate of $10,087 every six months.After accruing interest at year end, the company's December 31, Year 1 balance sheet should reect total liabilities associated with the bond issue in the amount of: $3,902,500. $3,782,437. $3,780,000. You Answered . $3,217,563. Discount on Bonds Payable, Begin $302,61 1 Less Year 1 amortization 20,174 (10,087 * 2) = 20,174 Unamorb'zed Discount, Endingr $282,437 Par Value of the bonds $3,500,000 Unamortized discount 282,437 Carrying Value of bonds $3,217,563 + lnterest accrual on Dec. 31 122,500 ($3,500,000 * 7% * 6/ 12) $3,340,063 Correct Answer '2 $3,340,063. Question 34 0 / 2.5 pts When using the indirect method to calculate and report the net cash provided or used by operating activities, net income is adjusted for all but which of the following? Gains and losses from nonoperating items. Changes in current liabilities related to operating activities. Owe": Answer ' 7' Changes in noncurrent assets and noncurrent liabilities. Depreciation and amortization expense. Y0\" Answere'j ' Revenues and expenses that did not provide or use cash. Question 35 The appropriate section in the statement of cash ows for reporting the receipt of cash dividends from investments in securities is: This is not reported on the statement of cash ows. Financing activities. 5 Investing activities. You Answered Schedule of noncash investing or nancing activity. Correct Answer Operating activities