Use the Following Information for Questions

question 8

Multiple Choice

Use the following information for questions.
Financial statements for Bernard Corp.are presented below:
-The balance in the Common Shares account at December 31, 2017 was

• A)$260,000.
• B)$400,000.
• C)$460,000.
• D)$620,000.

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Definitions:

Cash Dividends

Distributions of earnings paid to shareholders in the form of cash.

Note Payable

A written promise to pay a specific sum of money, plus interest if applicable, to another party at a future date or on demand.

Net Cash Flow

The difference between a company's cash inflows and cash outflows over a specific period of time.

Bond Interest

The periodic payment that bond issuers make to bondholders, typically as a fixed percentage of the bond's face value.