Multiple Choice Questions Use the Hialeah Bell Corporation financial statements that follow to answer questions 1 through
Question:
Multiple Choice Questions
Use the Hialeah Bell Corporation financial statements that follow to answer questions 1 through 6.
1. Hialeah Bells days sales in average receivables during 2010 was
a. 29 days.
b. 117 days.
c. 21 days.
d. 25 days.
2. Hialeah Bells inventory turnover during fiscal year 2010 was
a. 130 times.
b. 81 times.
c. 41 times.
d. very slow.
3. Hialeah Bells long-term debt bears interest at 11%. During the year ended December 31, 2010, Bells times-interest-earned ratio was
a. 137 times.
b. 144 times.
c. 147 times.
d. 150 times.
4. Hialeah Bells trend of return on sales is
a. Worrisome.
b. Declining.
c. Improving.
d. Stuck at 20.8%.
5. How many shares of common stock did Hialeah Bell have outstanding, on average, during 2010?
a. 2,947 million
b. 5,258 million
c. 5,244 million
d. 2,965 million
6. Book value per share of Hialeah Bells common stock outstanding at December 31, 2010, was
a. $5,649.
b. $1.84.
c. $1.96.
d.$2.08.
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Step by Step Answer:
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas