1. Stockholders’ Equity section includes the following information: What is the total selling price of the common stock? Preferred Stock $12,000 Paid-in Capital in Excess of Par-Preferred $2,700 Common Stock $15,000 Paid-in Capital in Excess of Par-Common $4,100 Retained Earnings $8,200 A. $19,100

B. $27,300

C. $14,700

D. $15,000

2. Eagle Ridge, Inc. issued 40 shares of $20 par value stock to its accountant in full payment for her $900 fee for assisting in setting up the new company. The entry for the issuance of the stock is a

A. debit to Paid-in Capital in Excess of Par–Common for $100.

B. credit to Common Stock for $800.

C. debit to Common Stock for $800.

D. credit to Common Stock for $900.

3. Galaxy Donuts has a cash conversion cycle of _______ days, which is a very healthy turnover rate.

A. 60

B. 30

C. 90

D. 120

4. An example of a cash outflow from investing activities is

A. paying cash dividends.

B. the purchase of treasury stock.

C. making a loan to another company.

D. issuance of a note payable.

5. Which of the following is not a part of financing activities?

A. Paying dividends

 

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