Product Description
Phoenix ACC 291 Week 5 Practice Questions Chapter 13 Answers (2017)
- Sustainable income is equal to net income.
-
Which of the following is not an irregular item on the income statement?
-
Sudley Shoppe had severe damage done to its Christmas inventory due to an escaped circus elephant rampaging through the store. The inventory loss was $80,000 before applicable taxes of $20,000. How should Sudley Shoppe report the loss?
-
Which of the following is income that includes all changes in stockholders' equity during a period except those resulting from investments by stockholders and distributions to stockholders?
-
Assume the following cost of goods sold data for a company:
2014
1,600,000
2013
1,500,000
2012
1,200,000
If 2012 is the base year, what is the percentage increase in cost of goods sold from 2012 to 2014? -
In vertical analysis, what is the base amount for depreciation expense?
-
Profitability ratios provide information about a firm’s success in generating income from operations.
-
The following information is available for Barkley Company:
2014
2013
Accounts receivable
$ 360,000
$400,000
Inventory
280,000
320,000
Net credit sales
3,000,000
1,400,000
Cost of goods sold
1,200,000
1,060,000
Net income
300,000
170,000
How much is the inventory turnover for 2014? -
Which measure(s) is (are) an evaluation of a company’s ability to pay current liabilities?
-
Which of the following is true for reporting extraordinary items under IFRS?
Customers also viewed
-
$7.99
-
$7.99
-
$7.99
-
$7.99
-
$7.99