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## Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

problem) PDQ Corp. has sales of \$4,000,000; the firm's cost of goods sold is \$2,500,000; and its total operating expenses are \$600,000. The firm's interest expense is \$250,000, and the corporate tax rate is 40%. What is PDQ's net income?

(a)\$288,000               (b)\$350,000             (c)\$377,000                          (d)\$390,000

problem) Li Retailing reported the following items for the current year: Sales = \$3,000,000; Cost of Goods Sold = \$1,500,000; Depreciation Expense = \$170,000; Administrative Expenses = \$150,000; Interest Expense = \$30,000; Marketing Expenses = \$80,000; and Taxes = \$300,000. Li's net profit margin is equal to

(a)25.67%.                   (b)35.67%.             (c)36.67%.                            (d)50.00%.

problem) What was the average annual rate of return on long-term government bonds (30-Year Treasury Bonds) during the period 1984 to 2008?

(a)4.14%                     (b)5.88%               (c)6.89%                              (d)7.82%

problem) SRC has a debt ratio of .4, current liabilities of \$18,000, and total assets of \$100,000. What is the level of SRC's total liabilities?

(a)\$22,000                  (b)\$40,000            (c)\$58,000                           (d)\$63,934

problem) A firm paid dividends of \$10,000, paid interest of \$20,000, reduced debt principal outstanding (paid off debt) in the amount of \$100,000, and sold new stock for \$150,000. What was the firm's cash flow from financing activities?

(a) +\$20,000 (\$20,000 flowed into the firm)          (b) -\$20,000 (\$20,000 flowed out of the firm)

(c) +\$280,000 (\$280,000 flowed into the firm)       (d)-\$280,000 (\$280,000 flowed out of the firm)

problem) Baron, Inc. has total current assets of \$1,200,000; long-term debt of \$600,000; total current liabilities of \$500,000; and long-term assets of \$800,000. How much is the firm's net working capital?

(a) \$1,000,000             (b)\$900,000          (c)\$600,000                        (d) \$700,000

Accounting Basics, Accounting

• Category:- Accounting Basics
• Reference No.:- M9205

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