Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help will all, ASAP thank you!! *Multiple Choice Question 86 The interest charged on a $294000 note payable, at the rate of 6%, on

Please help will all, ASAP
thank you!! image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
*Multiple Choice Question 86 The interest charged on a $294000 note payable, at the rate of 6%, on a 90-day note would be (Use 360 days for calculation.) $8820. $4410 $1470. $17640. *Multiple Choice Question 97 A retail store credited the sales Revenue account for the sales price and the amount of sales tax on sales. If the sales tax rate is 5% and the balance in the sales Revenue account amounted to $378000, what is the amount of the sales taxes owed to the taxing agency? $378000 $18900 $360000 $18000 Multiple Choice Question 114 The following totals for the month of April were taken from the payroll records of Blossom Company Salaries FICA taxes withheld Income taxes withheld Medical insurance deductions Federal unemployment taxes State unemployment taxes $141600 10830 29500 5300 380 2550 The entry to record the payment of net payroll would include a debit to Salaries and Wages Payable for $95970. debit to Salaries and Wages Payable for $85140. O credit to Cash for $106800. O debit to Salaries and Wages Payable for $93420. Multiple Choice Question 115 The following totals for the month of April were taken from the payroll records of Shamrock Company Salaries $100800 FICA taxes withheld 7710 Income taxes withheld 21000 Medical insurance deductions 3800 Federal unemployment taxes 270 State unemployment taxes 1810 The entry to record accrual of employer's payroll taxes would include a O debit to Payroll Tax Expense for $9790. Odebit to Payroll Tax Expense for $2080. O credit to FICA Taxes Payable for $15420. O credit to Payroll Tax Expense for $2080. *Multiple Choice Question 121 Outstanding stock of the Novak Corp. included 53000 shares of $5 par common stock and 8000 shares of 5%, $10 par non- cumulative preferred stock. In 2019, Novak declared and paid dividends of $5300. In 2020, Novak declared and paid dividends of $15900. How much of the 2020 dividend was distributed to preferred shareholders? $11900. C$9300. C $4000. None of these answer choices are correct. *Multiple Choice Question 169 Pina Colada Corp. had 270000 shares of common stock outstanding before a stock split occurred and 810000 shares outstanding after the stock split. The stock split was 3-for-1. 6-for-1 2-for-6. 1-for-6. Multiple Choice Question 203 The following information pertains to Whispering Winds Corp. Assume that all balance sheet amounts represent average balance figures. Total assets $259000 Stockholders' equity-common 129500 Total stockholders' equity 184500 Sales revenue 94500 Net income 28500 Number of shares of common stock 5900 Common dividends 4900 Preferred dividends 7400 What is the return on common stockholders' equity ratio for Whispering? 17.6% O 13.3% O 21.0% 16.3% * Multiple Choice Question 87 If Year 1 cost of goods sold equals $720, Year 2 cost of goods sold equals $810, and Year 3 cost of goods sold equals $620, the percentage to be assigned for Year 1 in a trend analysis, assuming that Year 1 is the base year, is 113% OOO 86%. 100% 116%. Multiple Choice Question 91 Assume the following cost of goods sold data for a company: 2023 2022 2021 $1425510 1210000 1011000 If 2021 is the base year, what is the percentage increase in cost of goods sold from 2021 to 2023? O 41% O 18% O 141% O 20%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer

13th Edition

978-0073379616, 73379611, 978-0697789938

Students also viewed these Accounting questions