Question 46 For firms with a complex capital structure, the weighted average number of shares used to calculate diluted earnings per share is least likely to include: A) common stock outstanding. B) antidilutive convertible preferred stock. C) dilutive convertible preferred stock. D) dilutive convertible bonds.
Question 47 Which of the following two accruals are assets on the balance sheet? A) Accrued revenue and accrued expenses. B) Accrued revenue and prepaid expenses. C) Unearned revenue and prepaid expenses. D) Unearned revenue and accrued expenses.
Question 48 Savannah Corp.’s financial accounts for the year ended December 31 included the following information: - Net Income: $122,000
- Preferred Stock Dividends Paid: $35,000
- Common Stock Dividends Paid: $42,000
- Common Shares outstanding at January 1: 50,000
- 10% preferred $100 par value shares outstanding at January 1: 3,500
No stock transactions occurred during the year and all preferred stock dividends were paid. Basic earnings per share for Savannah are closest to: A) $1.74. B) $2.44. C) $0.90. D) $1.44.
Question 49 Electronics Corp.’s financial information for the year ended December 31 includes the following: - Beginning Inventory was $2,400,000.
- Ending Inventory was $2,900,000.
- Purchases were $14,900,000.
- Beginning LIFO Reserve was $320,000.
- Ending LIFO Reserve was $395,000.
If Electronics Corp converts its ending inventory from the last in, first out (LIFO) inventory cost flow assumption to first in, first out (FIFO), the FIFO ending inventory balance will be:
A) $2,505,000. B) $2,975,000. C) $3,295,000. D) $3,220,000.
Question 50 Which of the following items is best described as a listing of all the journal entries in order of their dates? A) General ledger. B) Unclassified journal. C) General journal. D) Trial ledger.
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发表于 2008-5-10 14:01
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