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How would the declaration of a cash dividend affect the calculation of a company’s price-earnings ratio? (Hint: Do not consider any change in the market price of the stock that might occur because of the declaration of the dividend.)

A company paid $364,000 for a purchase that included land, a building, and equipment. An appraiser estimated the market value of the land to be $87,000, the building to be $314,000, and the equipment to be $27,000. Based on this information recording the basket purchase in the accounting records would cause:

For Year 2, the Sacramento Corporation had beginning and ending Retained Earnings balances of $191,225 and $217,900, respectively. Also during Year 2, the board of directors declared cash dividends of $28,300, which were paid during Year 2. The board also declared a stock dividend, which was issued and required a transfer in the amount of $17,500 to paid-in capital. Total expenses during Year 2 were $42,916. Based on this information, what was the amount of total revenue for Year 2?

Which of the following describes an activity that increases a company’s bank account balance?

Voiles Company reissued 200 shares of its treasury stock. The treasury stock originally cost $25 per share and was reissued for $35 per share. Select the answer that accurately reflects how the reissue of the treasury stock would affect Voiles financial statements. Balance SheetIncome StatementStatement of Cash FlowsAssets=Liabilities+ Stockholders’ EquityCash+Accounts Receivable=Accounts Payable+Other Equity Accounts−Treasury Stock+Paid-in Capital from Treasury StockRevenue−Expenses=Net IncomeA.7,000+ = + −(5,000)+2,000 − = 7,000 FAB.7,000+ = + −5,000+2,000 − = 7,000 IAC.7,000+ = + − +7,000 − = 7,000 FAD.5,000+ = + − +5,000 − = 5,000 FA

On January 1, Year 1, Hardwick Company purchased a truck that cost $53,000. The company expected to drive the truck 200,000 miles over its 5-year useful life, and the truck had an estimated salvage value of $3,000. If the truck is driven 30,000 miles during Year 1, what would be the amount of depreciation expense for the year?

Which of the following describes, in part, how the declaration of a stock dividend affects the financial statements?

Which of the following describes a callable bond?

Which of the following is not a typical document associated with a bank checking account?

On January 1, Year 1, Phillips Company made a basket purchase including land, a building and equipment for $380,000. The appraised values of the assets are $20,000 for the land, $340,000 for the building and $40,000 for equipment. Phillips uses the double-declining-balance method for the equipment which is estimated to have a useful life of four years and a salvage value of $5,000. What is the depreciation expense for the equipment for Year 1?