Midterm For Accounting equations - 20582

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(AC215)

What is a cash equivalent investment?

 

What is the customer orientation?

 

A company had total assets of 1,760,000, total cash flows of 1,320,000, & cash flows from of $1,320,000, and cash flows from operations of $205,000. This implies its cash flow on total assets ratio is equal to ______________________?

 

Everrine Corporation owns 3,000 shares of JRW Corporation JRW Corp. has 25,000 shares of stock outstanding. JRW paid $4.00 per share in cash dividends to its stockholders.  What is the entry to record the receipt of these dividends?

 

Alton Company has an overhead application rate 160% and allocates overhead based on direct materials. During the current period:

    1. a.    Direct labor is $50,000
    2. b.    Direct Materials used is $80,00

i.                    Determine the amount of overhead Alton Company should record in the current period.

A company must repay the bank $10,000 cash in 3 years for a loan it took out. The loan is at 8% interest compounded annually. The present value factor for 3 years at 8% is 0.7938. What is the present value of the loan?

 

Shamrock Company had net income of $30,000. On January 1, the number of shares of common stock outstanding was 8,000. The company declared a $2,700 dividend on its no cumulative, nonparticipating preferred stock. There were no other stock transactions. What is the company’s earnings per share?

 

Canoe Company uses a job order cost accounting system & allocates its overhead on the basis of direct labor costs.

Canoe company’s production costs for the year were:

a.    Direct Labor $30,000

b.    Direct Materials $50,000

c.     Factory Overhead applied $6,000

What is the overhead application rate?

 

 

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MIDTERM AC215.doc
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