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Acct 301 > Final Exam > Flashcards

Final Exam Flashcards

1
Q

Return On Equity

A

Test of Profitability

Net Income ÷ Average Stockholders’ Equity

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2
Q

Return on Assets

A

Test of Profitability

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3
Q

Earnings Per Share

A

Test of Profitability

Net Income ÷ Average Number of Shares of Common Stock Outstanding

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4
Q

Profit Margin

A

Test of Profitability

Net Income ÷ Net Sales Revenue

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5
Q

Current Ratio

A

Test of Liquidity

Current Assets/Current Liabilities

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6
Q

Quick Ratio

A

Test of Liquidity

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7
Q

Recievable turnover ratio

A

Test of liquidity

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8
Q

Inventory Turnover ratio

A

Test of liquidity

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9
Q

Accounts Payable Turnover Ratio

A

Test of Liquidity

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10
Q

Times interest earned Ratio

A

Test of sovency

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11
Q

Price to earnings ratio (P/E) ratio

A

Market tests

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12
Q

Debt to Equity Ratio

A

Test of liquidity

Total Liabilities ÷ Stockholders’ Equity

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13
Q

Dividend Yield

A

Market Test

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14
Q

Retained earnings Equation

A

Beg RE + NI – Dividends = ending retained earnings

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15
Q

Issue Stock

A

Cash
Common Stock
Capital in Excess of par

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16
Q

Repurchase stock

A

Treasury Stock

Cash

17
Q

Selling Treasury Stock for more then you paid

A

Cash
Treasury Stock
Capital in excess of par

18
Q

Selling Treasury Stock for less than you paid

A

Cash
Capital in excess of par
Treasury Stock

19
Q

Stock Dividend (<20%)

A

Retained Earnings
Common Stock
Capital In excess of par

20
Q

Large Stock Dividend

A

Retained Earnings

Common Stock

21
Q

Bond issue formula

A

FaceValuePV(periods,marketInterestRate)+ InterestPVA(periods,MarketInterestRate)

22
Q

Call on Bonds Journal Entry (premium)

A

Bonds Payable
Loss on Bonds Called
Premium on Bonds Payable
Cash

23
Q

Call on Bonds Journal Entry (discount)

A

Bonds Payable
Loss on Bonds called
Discount on BP
Cash

Acct 301 (1 decks)

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