On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial statements. The following information is available: Beginning inventory, January 1: $5,000 Net sales: $50,000 Net purchases: $51,000 The company's gross margin ratio is 15%. Using the gross profit method, the cost of goods sold would be:
$6,000. $26,500. $5,000. $31,500. $42,500.
Company X had a net income of $25,000 for the year ended December 31, 2016. In 2016, Company X paid the out dividends of $10,000. At the end of 2016, Company X had a retained earnings balance of $60,000. What was Company X's retained earnings balance at the beginning of the year? a. $45,000 b. $75,000 c. $35,000 d. $70,000
9) Consider the following four alternatives: 1. $132 received in two years. 2. $160 received in five years. 3. $200 received in eight years. 4. $220 received in ten years. The ranking of the four alternatives from most valuable to least valuable if the interest rate is 7% per year would be: A) 1, 2, 3, 4. B) 4, 3, 2, 1. C) 3, 4, 2, 1. D) 3, 1, 2, 4.
The Daily News had net income of $121,600, of which, 40% was distributed to the shareholders as dividends. During the year, the company sold $75,000 worth of common stock. According to the cash flow from assets (CFFA), what is the cash flow to stockholders?
A. - $75,000
B. - $26,360
C. - $2,040
D. $123,640
E. $147,960
