Matching Questions
-Each transaction numbered 1 through 5 below involves an equity security originally acquired at a cost of $1,000. Identify the effect each transaction has on the current ratio and earnings per share by selecting from the effects listed in a through f. You may use each letter more than once or not at all.
____ 1. Trading securities with a current balance sheet value of $1,200 are sold for $1,100.
____ 2. Trading securities with a current balance sheet value of $800 are sold for $800.
____ 3. Trading securities with a current balance sheet value of $1,200 are sold for $1,300.
____ 4. Available-for-sale securities have a market value of $800 at yearend.
____ 5. Available-for-sale securities have a market value of $1,200 at yearend.
Definitions:
Q21: If preferred stock, which can be exchanged
Q28: On January 1, 2009, Justin Corp. leased
Q29: Jake Company borrowed $100,000 from Guaranty Trust
Q48: Dividends payable is recorded at the date
Q55: On January 1, 2010, Gee Company issued
Q78: A multinational is<br>A) a company that prepares
Q91: The industry in which Carter is a
Q91: An asset account<br>A) has a debit balance.<br>B)
Q100: Forrest's Crab House purchased Florida stone crab
Q106: Phoenix Corp. paid rent of $12,000 per