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Question 15 Not yet answered Points out of 1.00 Remove flag A bond that will sell for a discount when the market rate is greater than the coupon rate. Select one: O True False Question 18 Not yet answered Points out of 1.00 Remove flag Treasury Stock is; Select one Select one: o a. Stock of other corporations owned by a corporation b. A corporation's own stock that has been reacquired and held for future use c. Stocks invested in gold and silver d. AU.S. government security Question 19 Not yet answered Points out of 1.00 Remove flag Kailey, Inc. issued 20,000 shares of no par common stock, stated value 520, at $32 cash per share. The journal entry to record this transaction is: Select one: Debit: Cash 640,000 Credit: Common Stock Credit: Paid-in Capital in Excess of Stated Value 400,000 240,000 640,000 Debit: Cash Credit: Common Stock 640,000 Debit: Cash 640,000 Credit: Common Stock Credit: Paid-in Capital in Excess of Par Value 400,000 240,000 Question 20 Not yet answered Points out of 1.00 Remove flag Cash dividends reduce both cash and retained earnings by the amount of the dividends paid Select one: True False Question 24 Not yet answered Points out of 1.00 Remove flag The December 31, 2019, balance sheet of Ivey Company includes the following information: Inventory $750,000 Prepaid Expenses 60,000 Total Current Assets 1,800,000 Total Current Liabilities 875,000 Accounts Payable 520000 What is Ivey's quick ratio at Dec ember 3 Select one: a. 2.57 b.1.13 C. 0.80 d. 1.85 Question 27 Not yet answered Points out of 1.00 Remove flag Bryn Mar Company is authorized to issue 1,000,000 shares of $10 par value common stock. By March 15, 2019, the company had issued 200,000 shares at $34 per share. On March 15, 2019, the company declared a 10% stock dividend when the market price was $40 per share. What amount debit to the Stock Dividend account? Select one: O a. 680,000 O b. 200,000 O c.600,000 d. 800,000 Question 30 Not yet answered Points out of 1.00 Remove flag With the following information provided by the company Dream Team please determine their Times Interest Ratio; Current Assets: $100,000 Long Term Assets: $300,000 Current Liabilities: $50,000 Long Term Liabilities: $150,000 Equity: $200,000 Net Income: $20,000 Interest Expense: $5,000 Supplies Expense: $2,500 Select one a. 2 ON cs 0.55 Question 32 Not yet answered Points out of 1.00 Remove flag The Groom company has 50,000 shares of $10 par value common stock outstanding when it declares a dividend of 51 per share. What would be the journal entry for the declaration of the cash dividends? 50,000 50,000 Select one: O a. Debit: Dividends Payable - Common Stock Credit: Cash b. Debit: Cash Dividends 50,000 Credit: Cash 50,000 O C. Debit Cash Dividends 50,000 50,000 Credit: Dividends Payable. Common Stock d. Debit Cash 50,000 Credit Cash Dividends 50,000 Question 33 Not yet answered Points out of 1.00 Remove flag Ms. Decker started a fashion magazine company in which customers were required to pay her $120 in advance for a year's subscription in which the customer receives one magazine each month. In December 2019 she received 10,000 subscription orders and in January 2020 she published her first magazine. Please prepare the journal entry for the issuance of the magazine in January 100,000 100,000 Select one: a. Debit: Unearned Subscription Revenue Credit: Subscription Revenue O b. Debit: Cash 120,000 Credit: Subscription Revenue c. Debit: Unearned Subscription Revenue Credit: Subscription Revenue O d. Debit: Unearned Subscription Revenue Credit: Subscription Revenue 120,000 120,000 120,000 1,200,000 1,200,000 Question 15 Not yet answered Points out of 1.00 Remove flag A bond that will sell for a discount when the market rate is greater than the coupon rate. Select one: O True False Question 18 Not yet answered Points out of 1.00 Remove flag Treasury Stock is; Select one Select one: o a. Stock of other corporations owned by a corporation b. A corporation's own stock that has been reacquired and held for future use c. Stocks invested in gold and silver d. AU.S. government security Question 19 Not yet answered Points out of 1.00 Remove flag Kailey, Inc. issued 20,000 shares of no par common stock, stated value 520, at $32 cash per share. The journal entry to record this transaction is: Select one: Debit: Cash 640,000 Credit: Common Stock Credit: Paid-in Capital in Excess of Stated Value 400,000 240,000 640,000 Debit: Cash Credit: Common Stock 640,000 Debit: Cash 640,000 Credit: Common Stock Credit: Paid-in Capital in Excess of Par Value 400,000 240,000 Question 20 Not yet answered Points out of 1.00 Remove flag Cash dividends reduce both cash and retained earnings by the amount of the dividends paid Select one: True False Question 24 Not yet answered Points out of 1.00 Remove flag The December 31, 2019, balance sheet of Ivey Company includes the following information: Inventory $750,000 Prepaid Expenses 60,000 Total Current Assets 1,800,000 Total Current Liabilities 875,000 Accounts Payable 520000 What is Ivey's quick ratio at Dec ember 3 Select one: a. 2.57 b.1.13 C. 0.80 d. 1.85 Question 27 Not yet answered Points out of 1.00 Remove flag Bryn Mar Company is authorized to issue 1,000,000 shares of $10 par value common stock. By March 15, 2019, the company had issued 200,000 shares at $34 per share. On March 15, 2019, the company declared a 10% stock dividend when the market price was $40 per share. What amount debit to the Stock Dividend account? Select one: O a. 680,000 O b. 200,000 O c.600,000 d. 800,000 Question 30 Not yet answered Points out of 1.00 Remove flag With the following information provided by the company Dream Team please determine their Times Interest Ratio; Current Assets: $100,000 Long Term Assets: $300,000 Current Liabilities: $50,000 Long Term Liabilities: $150,000 Equity: $200,000 Net Income: $20,000 Interest Expense: $5,000 Supplies Expense: $2,500 Select one a. 2 ON cs 0.55 Question 32 Not yet answered Points out of 1.00 Remove flag The Groom company has 50,000 shares of $10 par value common stock outstanding when it declares a dividend of 51 per share. What would be the journal entry for the declaration of the cash dividends? 50,000 50,000 Select one: O a. Debit: Dividends Payable - Common Stock Credit: Cash b. Debit: Cash Dividends 50,000 Credit: Cash 50,000 O C. Debit Cash Dividends 50,000 50,000 Credit: Dividends Payable. Common Stock d. Debit Cash 50,000 Credit Cash Dividends 50,000 Question 33 Not yet answered Points out of 1.00 Remove flag Ms. Decker started a fashion magazine company in which customers were required to pay her $120 in advance for a year's subscription in which the customer receives one magazine each month. In December 2019 she received 10,000 subscription orders and in January 2020 she published her first magazine. Please prepare the journal entry for the issuance of the magazine in January 100,000 100,000 Select one: a. Debit: Unearned Subscription Revenue Credit: Subscription Revenue O b. Debit: Cash 120,000 Credit: Subscription Revenue c. Debit: Unearned Subscription Revenue Credit: Subscription Revenue O d. Debit: Unearned Subscription Revenue Credit: Subscription Revenue 120,000 120,000 120,000 1,200,000 1,200,000

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