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Question completion Jalus. QUESTION 11 2 po Rainsoft Company Selected data from the financial statements are provided below: 2015 Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets $ 44,000 84.000 44.000 46.000 5218,000 2014 $ 28,000 32,000 166.000 36.000 $262.000 2013 $ 14,000 114,400 100,000 41,600 $270,000 Total Current Liabilities Net Credit Sales Cost of Goods Sold Net Cash Flows from Operating Activities $130,000 442,000 336.000 32.000 $144,000 652.000 598.000 58,000 Refer to Rainsoft Company. What is the current ratio for 2015? 0.60 0.99 1.34 1.68 QUESTION 15 When a corporation declares a cash dividend, which of the following is true? Cash decreases. Liabilities decrease. Stockholders' equity decreases. No entry is necessary. QUESTION 16 Which of the following statements is false? Abalance sheet reports a company's cash balance at a specific date. An income statement reports the amounts of revenue and expense on an accrual basis. A statement of retained earnings reports the amount of cash received from operating activities and the amount of cash paid for dividends. A statement of cash flows explains the changes in cash from operating investing, and financing activities. QUESTION 17 The following information was taken from the financial records of Mr. Transmission: Accounts payable, December 31, 2014 $ 88,000 Accounts payable, December 31, 2013 99,000 Operating expenses for 2014 999,000 How would the change in accounts payable be reported in the operating activities section of the statement of cash flows under the indirect method? As an addition to operating expenses As a deduction from operating expenses. As an addition to net income. As a deduction from net income QUESTION 18 On January 1, 2012, a company issued 10,000 shares of 10%, $10 par value cumulative preferred stock. No dividends were declared in 2012 or 2013. In 2014, the company declared a dividend of $200,000. How much of the 2014 dividend should be paid to common stockholders? $170,000 $190,000 $197.000 $200,000 QUESTION 19 What is the primary reason for a stock split? To distribute cash to the investor. To decrease the market value of the stock To decrease the number of shares outstanding To increase the capital stock of the corporation. QUESTION 24 Rapid Sign Corporation Selected data from the financial statements are presented below: Net income Cash dividends paid on common stock Average number of common shares outstanding Treasury Stock Market price per share of common stock at year-end 2015 $110,000 42,000 140,000 70,000 16.00 2014 $123,000 38,000 145,000 13.00 Refer to Rapid Sign Corporation. What is the stock repurchase payout ratio for 2015? 63.8% 51.796 35.196 00 QUESTION 28 Medstar Ambulance Service Information from the company's financial records is presented below: Notes payable, December 31, 2013 Notes payable. December 31, 2014 Loss on Note retirement--2014 Interest expense on bonds--2014 $1,000,000 1,200,000 45,000 75.000 At the end of 2014, the company issued notes at par value for $1,200,000 cash. The proceeds were used to retire the $1,000,000 note issue outstanding at the end of 2013 (before their maturity date). All interest expense was paid in cash during 2014 Refer to Medstar Ambulance Service. How much was paid to retire the $1,000,000 note issue during 2014? $ 800,000 $1,200.000 51.045,000 $1.075.000