Reference no: EM133740

Question 1:. At the starting of 2010, Helms Corporation had 34,000 shares of $10 par value common stock issued and outstanding. In January 2010, Helms declared and distributed a 10 % stock dividend. The market value of Helms's stock was $24 all through the month of January. The entry to be recorded for the declaration of stock dividend is

Question 2: A company had 48,000 shares outstanding from January 1 to June 1 and 72,000 shares outstanding from 1^st June to 31^st December. Evaluate the weighted-average number of shares used in earnings per share calculations?

Question 3:. At the starting of 2010, Helms Corporation had 34,000 shares of $10 par value general stock issued and outstanding. During January 2010, Helms declared and distributed a 10 % stock dividend. The market value of Helms's stock was $24 all through the month of January. The entry to be recorded for the declaration of stock dividend is

Question 4:. On 1^st May, 2010, Bryson Corporation had 200,000 shares of $100 par value general stock outstanding with a market value of $160 per share. On May 2, 2010, Bryson announced a 4-for-1 stock split. After the split, the par value of the stock

a. remained the same as before the split.

b. was reduced to $25 per share.

c. was reduced by $40 per share.

d. was reduced by $25 per share.

Question 5:. If the indirect technique is used, which of the subsequent would be added to net income to arrive at net cash flows from operating activities?

a. Increase in Inventory

b. Decrease in Prepaid Expenses

c. Decrease in Accounts Payable

d. Increase in Accounts Receivable

Question 6: If the indirect technique is used, which of the subsequent would be subtracted from total income to arrive at net cash flows from operating activities?

a. Increase in Notes Payable

b. Decrease in Inventory

c. Decrease in Accounts Payable

d. Depreciation Expense

Question 7: If the indirect technique is used, each of the subsequent is a proper adjustment to total income to arrive at net cash flows from operating activities except

a. deducting a decrease in Prepaid Expenses.

b. adding an increase in Salaries Payable.

c. deducting an increase in Accounts Receivable.

d. adding a decrease in Inventory.

Question 8:. In preparing a statement of cash flows using the indirect technique, an increase in an unearned revenue account should

a. be shown as a financing activity.

b. be shown as a deduction from total income in evaluating net cash flows from operating activities.

c. not be shown on the statement of cash flows.

d. be shown as an addition to total income in computing net cash flows from operating activities.

Question 9: Which of the subsequent describes the interest coverage ratio?

a. Income before income taxes plus interest expense divided by interest expense

b. Income after income taxes plus interest expense divided by interest expense

c. Income after income taxes divided by interest expense

d. Income before income taxes minus interest expense divided by interest expense