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Bach Instruments had total assets of $560,000; total liabilities of $250,000; and total Stockholders' Equity of $310,000. Bach's debt ratio is

44.6%.
28.7%.
80.6%.

55.4%.

The entry to record selling 300 shares of stated value $60 common stock for $70 per share would be

debit Cash $21,000; credit Common Stock $18,000; credit Paid-in Capital in Excess of Stated Value–$3,000.
debit Cash $21,000; credit Common Stock $21,000.
debit Cash $18,000; debit Paid-in Capital in Excess of Stated Value–$3,000; credit Common Stock $21,000.
debit Cash $18,000; credit Common Stock $18,000.

The Statement of Cash Flows reports the sources and uses of cash from all of the following EXCEPT

financing activities.
managerial activities.

operating activities.

On the Income Statement, the results of discontinued operations are reported

immediately after the extraordinary items section.
before the operating income section.
as part of other income (expense).

net of income tax or net of income tax savings.

By NOT accruing warranty expense

reported expenses will be understated, and net income will be understated.
reported expenses will be overstated, and reported liabilities will be understated.
reported liabilities will be understated, and net income will be overstated.

reported liabilities will be overstated, and net income will be understated.

The adjusting entry to record incurred but not yet paid employee wages includes

a debit to Cash.
a debit to Wages Payable.
a debit to Wages Expense.
a debit to Wages Earned.

The type of stock that does NOT carry paid-in capital in excess of par is called

par stock.
stated value stock.
no-par stock.
outstanding stock.

investing activities.

What was the percentage of change in Accounts Receivable if the balance was $80,000 in 2013 and $60,000 in 2014?

+25.00%.
+33.33%.
-25.00%.
-33.33%.

In accounting, what is the meaning of capitalized?

Capitalized means that an asset account is debited (increased) for the cost of an asset.
Capitalized means that the cost of an asset is recorded as a debit (increase) to expense.
Capitalized means that a given city has been selected as a government center.

Capitalized means that a liability account is credited (increased) for the cost of an asset.

please answer all the questions otherwise dont answer. TIA

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Beverley Smith
Beverley SmithLv2
28 Sep 2019

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Related questions

The period end adjusting entry for bad debt expense under the allowance method is

Cash, debit; Accounts Receivable/customer name, credit.
not required.
Bad Debt Expense, debit; Accounts Receivable/customer name, credit.
Bad Debt Expense, debit; Allowance for Uncollectible Accounts, credit.

Bach Instruments had total assets of $560,000; total liabilities of $250,000; and total Stockholders' Equity of $310,000. Bach's debt ratio is

44.6%.
28.7%.
80.6%.

55.4%.

The entry to record selling 300 shares of stated value $60 common stock for $70 per share would be

debit Cash $21,000; credit Common Stock $18,000; credit Paid-in Capital in Excess of Stated Value–$3,000.
debit Cash $21,000; credit Common Stock $21,000.
debit Cash $18,000; debit Paid-in Capital in Excess of Stated Value–$3,000; credit Common Stock $21,000.
debit Cash $18,000; credit Common Stock $18,000.

The Statement of Cash Flows reports the sources and uses of cash from all of the following EXCEPT

financing activities.
managerial activities.

operating activities.

On the Income Statement, the results of discontinued operations are reported

immediately after the extraordinary items section.
before the operating income section.
as part of other income (expense).

net of income tax or net of income tax savings.

By NOT accruing warranty expense

reported expenses will be understated, and net income will be understated.
reported expenses will be overstated, and reported liabilities will be understated.
reported liabilities will be understated, and net income will be overstated.

reported liabilities will be overstated, and net income will be understated.

The adjusting entry to record incurred but not yet paid employee wages includes

a debit to Cash.
a debit to Wages Payable.
a debit to Wages Expense.
a debit to Wages Earned.

The type of stock that does NOT carry paid-in capital in excess of par is called

par stock.
stated value stock.
no-par stock.
outstanding stock.

investing activities.

What was the percentage of change in Accounts Receivable if the balance was $80,000 in 2013 and $60,000 in 2014?

+25.00%.
+33.33%.
-25.00%.
-33.33%.

In accounting, what is the meaning of capitalized?

Capitalized means that an asset account is debited (increased) for the cost of an asset.
Capitalized means that the cost of an asset is recorded as a debit (increase) to expense.
Capitalized means that a given city has been selected as a government center.
Capitalized means that a liability account is credited (increased) for the cost of an asset.

Sarasota Corp. has been authorized to issue 20,400 shares of $100 par value, 6%, noncumulative preferred stock and 1,140,000 shares of no-par common stock. The corporation assigned a $4 stated value to the common stock. At December 31, 2017, the ledger contained the following balances pertaining to stockholders’ equity. Preferred Stock $154,000 Paid-in Capital in Excess of Par Value—Preferred Stock 21,400 Common Stock 1,980,000 Paid-in Capital in Excess of Stated Value—Common Stock 1,550,000 Treasury Stock (4,400 common shares) 35,200 Retained Earnings 82,600 Accumulated Other Comprehensive Income 49,400 The preferred stock was issued for $175,400 cash. All common stock issued was for cash. In November 4,400 shares of common stock were purchased for the treasury at a per share cost of $8. No dividends were declared in 2017. Prepare the journal entries for the following. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (1) Issuance of preferred stock for cash. (2) Issuance of common stock for cash. (3) Purchase of common treasury stock for cash. No. Account Titles and Explanation Debit Credit 1. enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit amount enter a credit amount 2. enter an account title to record the second transaction enter a debit amount enter a credit amount enter an account title to record the second transaction enter a debit amount enter a credit amount enter an account title to record the second transaction enter a debit amount enter a credit amount 3. enter an account title to record the third transaction enter a debit amount enter a credit amount enter an account title to record the third transaction enter a debit amount enter a credit amount Prepare the stockholders’ equity section of the balance sheet at December 31, 2017.

Statement of cash flows—indirect method

Instructions

Labels and Amount Descriptions

Statement of Cash Flows

X

Instructions

The comparative balance sheet of Whitman Co. at December 31, 2016 and 2015, is as follows:

1

Dec. 31, 2016

Dec. 31, 2015

2

Assets

3

Cash

$918,000.00

$964,640.00

4

Accounts receivable (net)

 828,530.00

761,860.00

5

Inventories

1,267,840.00

1,162,650.00

6

Prepaid expenses

28,510.00

35,920.00

7

Land

316,660.00

480,600.00

8

Buildings

1,462,690.00

901,830.00

9

Accumulated depreciation-buildings

(409,440.00)

(381,440.00)

10

Equipment

513,200.00

454,090.00

11

Accumulated depreciation-equipment

(141,800.00)

(158,860.00)

12

Total assets

$4,784,190.00

$4,221,290.00

13

Liabilities and Stockholders’ Equity

14

Accounts payable (merchandise creditors)

$922,640.00

$958,010.00

15

Bonds payable

271,000.00

0.00

16

Common stock, $25 par

307,000.00

117,000.00

17

Paid-in capital: Excess of issue price over par—common stock

754,600.00

557,000.00

18

Retained earnings

2,528,950.00

2,589,280.00

19

Total liabilities and stockholders’ equity

$4,784,190.00

$4,221,290.00

The noncurrent asset, noncurrent liability, and stockholders’ equity accounts for 2016 are as follows:

ACCOUNT Land

ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
2016
Jan. 1 Balance 480,600
Apr. 20 Realized $151,550 cash from sale 163,940 316,660

ACCOUNT Buildings

ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
2016
Jan. 1 Balance 901,830
Apr. 20 Acquired for cash 560,860 1,462,690

ACCOUNT Accumulated Depreciation––Buildings

ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
2016
Jan. 1 Balance 381,440
Dec. 31 Depreciation for year 28,000 409,440

ACCOUNT Equipment

ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
2016
Jan. 1 Balance 454,090
26 Discarded, no salvage 46,790 407,300
Aug. 11 Purchased for cash 105,900 513,200

ACCOUNT Accumulated Depreciation ––Equipment

ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
2016
Jan. 1 Balance 158,860
26 Equipment discarded 46,790 112,070
Dec. 31 Depreciation for year 29,730 141,800

ACCOUNT Bonds Payable

ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
2016
May 1 Issued 20-year bonds 271,000 271,000

ACCOUNT Common Stock $25 par

ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
2016
Jan. 1 Balance 117,000
Dec. 7 Issued 7,600 shares of common stock for $51 per share 190,000 307,000

ACCOUNT Paid-In Capital in Excess of Par––Common Stock

ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
2016
Jan. 1 Balance 557,000
Dec. 7 Issued 7,600 shares of common stock for $51 per share 197,600 754,600

ACCOUNT Retained Earnings

ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
2016
Jan. 1 Balance 2,589,280
Dec. 31 Net loss 28,750 2,560,530
31 Cash dividends 31,580 2,528,950

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. In the operating activities section, use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow, if required. In the investing and financing activities section, use a minus sign only to indicate a NET cash outflow for the section.

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