Author: Anonymous

In a card game, each player is dealt a hand     of 7 cards from a deck of 52 playing cards.      How many hands are possible? 

A basket contains 8 green apples, 11 red apples, 5 nectarines, and 12 oranges. Mark randomly chooses a piece of fruit, eats it, then selects another.  Find the probability of P(a green apple then a nectarine) (choosing a green apple, then a nectarine). 

Boreal Transit Corp. had 400,000 common shares outstanding on January 1.The following common share transactions occurred during the year:DateTransactionMarch 1Issued 120,000 common shares for cashJuly 1Reacquired and cancelled 60,000 common sharesOctober 1Distributed a 10% stock dividendDecember 1Completed a 2-for-1 stock splitBoreal reported net income of $2,268,000 for the year.The company also had 30,000 cumulative preferred shares outstanding throughout the year, each carrying an annual dividend of $4 per share. No preferred dividends were declared during the year, and there were no dividends in arrears at the beginning of the year.Which combination correctly reports Boreal’s weighted-average common shares and basic earnings per share?

Mountainview Utilities Ltd.’s defined benefit pension plan allows an employee to retire with an unreduced pension when the employee’s age plus years of credited service equals at least 85.At December 31, an employee is 58 years old and has completed 27 years of credited service.Which statement is correct?

Rocky Prairie Systems Ltd. reported net income of $1,200,000 and had 380,000 weighted-average common shares outstanding during the year.The company also had 20,000 cumulative preferred shares outstanding throughout the year. Each preferred share carries an annual dividend of $3. No preferred dividends were declared during the year.On April 1, Rocky Prairie issued $2,000,000 of 6% convertible bonds. The bonds were outstanding for the remainder of the year. Each $1,000 bond is convertible into 25 common shares.The corporate income tax rate is 25%.What diluted earnings per share should Rocky Prairie report?

Cedar Ridge Services Ltd. maintains a defined contribution pension plan.Under the plan:employees contribute 3% of eligible salaries; andCedar Ridge contributes 4% of eligible salaries.Eligible employee salaries for the year totalled $3,000,000. Employee contributions were withheld and remitted separately and are not part of Cedar Ridge’s pension expense.By December 31, Cedar Ridge had remitted $110,000 of its required employer contributions.Which combination correctly reports Cedar Ridge’s pension expense and pension payable at December 31?

Granite Peak Technologies Ltd. had the following balances before completing any current-year share transactions:ItemAmountCommon Shares$1,200,000Retained Earnings$900,000Common shares outstanding100,000 sharesOn September 1, Granite Peak declared and immediately distributed a 10% stock dividend. The stock dividend was recorded at a declared amount of $12 per share.On December 1, Granite Peak completed a 3-for-1 stock split.Which combination correctly reports the balances immediately after both transactions?

Bill and Claudette formed Cypress, a general partnership, by contributing the following assets in exchange for 50 percent capital and profits interests in the partnership:     Basis Fair value Bill:     Cash $10,000 $10,000 Machinery $50,000 $20,000 Total $60,000 $30,000 Claudette:     Land $40,000 $80,000 Total $40,000 $80,000   [question 2 of 2] What is Cypress’s total (inside) basis in the contributed assets?

A nurse is teaching a client about pancreatic enzyme replacement therapy. The nurse should understand that further teaching is necessary when the client states which of the following?

Which statement indicates to the nurse that a client who is experiencing frequent episodes of indigestion and flatulence may have cholecystitis?