1. question : (tco a) a corporation has which of the following sets


 1.Question :(TCO A) A corporation has which of the following sets of characteristics?


 Student Answer: Shared control, tax advantages, increased skills, and resources 


  Simple to set up and maintains control with the founder 


  Easier to transfer ownership and raise funds, no personal liability for stockholders 

  Harder to raise funds and gives owner control 


 Instructor Explanation:Chapter 1, pages 4 and 5



 Points Received:5 of 5 






 2.Question :(TCO A) When a corporation distributes a dividend, _____.


 Student Answer: the most common form of distribution is a cash dividend 


  the Dividends account will be increased with a credit 


  the Retained Earnings account will be directly increased with a debit 


  the Dividends account will be decreased with a debit 


 Instructor Explanation:Chapter 3, page 114



 Points Received:5 of 5 






 3.Question :(TCOs A, B) Below is a partial list of account balances for Kerner Company:


Cash                          $10,000

Prepaid insurance           1,000

Accounts receivable        5,000

Accounts payable           4,000

Notes payable                6,000

Common stock               2,000

Dividends                       1,000

Revenues                     30,000

Expenses                     25,000


What did Kerner Company show as total credits?


 Student Answer: $43,000 








 Instructor Explanation:Chapter 3, page 129



 Points Received:5 of 5 






 4.Question :(TCOs B, E) Using accrual accounting, expenses are recorded and reported only _____.


 Student Answer: when they are incurred, whether or not cash is paid 


  when they are incurred and paid at the same time 


  if they are paid before they are incurred 


  if they are paid after they are incurred 


 Instructor Explanation:Chapter 4, page 167



 Points Received:5 of 5 






 5.Question :(TCO D) In a period of increasing prices, which inventory cost flow assumption will result in the lowest amount of income tax expense?


 Student Answer: FIFO 




  The average cost method 


  Income tax expense for the period will be the same under all assumptions. 

 Instructor Explanation:Chapter 6, page 292



 Points Received:5 of 5 






 6.Question :(TCOs A, E) Equipment with a cost of $192,000 has an estimated salvage value of $18,000 and an estimated life of 4 years or 12,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,300 hours?


 Student Answer: $48,000 








 Instructor Explanation:Chapter 9, page 455



 Points Received:5 of 5 






 7.Question :(TCOs D, G) Lopez Corporation issues 500 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a _____.


 Student Answer: debit to Cash of $500,000 


  credit to Discount on Bonds Payable for $20,000 


  credit to Bonds Payable for $480,000 


  debit to Cash for $480,000 


 Instructor Explanation:Chapter 10, page 517



 Points Received:5 of 5 






 8.Question :(TCO C) Accounts receivable arising from sales to customers amounted to $35,000 and $40,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $120,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is _____.


 Student Answer: $120,000 








 Instructor Explanation:Chapter 12, page 636



 Points Received:5 of 5 






 9.Question :(TCO F) One variation of the horizontal analysis is known as _____.


 Student Answer: nonlinear analysis 


  vertical analysis 


  trend analysis 


  common-size analysis 


 Instructor Explanation:Chapter 13, page 694



 Points Received:5 of 5 






 10.Question :(TCO F) Comparisons of data within a company are an example of the following comparative basis.


 Student Answer: Industry averages 








 Instructor Explanation:Chapter 13, page 693



 Points Received:5 of 5 






 11.Question :(TCO F) In vertical analysis, the base amount for studying salary and wages expense is generally _____.


 Student Answer: net sales 


  salary and wages expense in a previous year 


  gross profit 


  net income 


 Instructor Explanation:Chapter 13, page 698



 Points Received:5 of 5 






 12.Question :(TCO F) Short-term creditors are usually most interested in assessing _____.


 Student Answer: solvency 








 Instructor Explanation:Chapter 13, page 70



 Points Received:5 of 5 






 13.Question :(TCO F) Return on common stockholder’s equity ratio is affected by _____.


 Student Answer: net income 


  dividend paid to preferred stock, if any 


  leverage (debt-to-assets ratio) 


  All of the above 


 Instructor Explanation:Chapter 13, page 715



 Points Received:5 of 5 






 14.Question :(TCO G) To calculate the market value of a bond, we need to use the time-value-of-money concept called _____.


 Student Answer: compounding 






  None of the above 


 Instructor Explanation:Chapter 10, page 514



 Points Received:5 of 5 





Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Australia Assessments
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Finance/Acc Related
Well answered.
Customer 460073, April 29th, 2022
good job
Customer 456821, May 18th, 2022
Customer 462495, March 28th, 2022
IT, Web
The new writer was amazing and followed the instructions perfectly! Thank you so much for tackling all requirements on short notice and a HUGE thank you to the support team for remaining in contact with me until a resolution was received.
Customer 452455, January 13th, 2023
Excellent responses.
Customer 463049, June 5th, 2022
Family and consumer science
Great effort.
Customer 462739, April 14th, 2022
Nice. Be keen on instructions.
Customer 462787, April 1st, 2022
Business Studies
Great work again!
Customer 454345, May 10th, 2020
Leadership Studies
Writer was very patient and completed on time
Customer 452707, October 4th, 2022
Customer 463463, November 1st, 2022
English 101
Thank you!
Customer 454351, May 9th, 2020
Great Content!
Customer 463469, October 20th, 2022
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat