ACC 200 Final Exam; Questions & Answers
100% Verified
Receivables turnover ratio Correct answer-net credit sales / average accounts receivables
Inventory turnover ratio Correct answer-costs of goods sold / average inventory
Current ratio Correct answer-current assets / current liabilities
Debt to equity ratio Correct answer-total liabilities / stockholders' equity
Times interest earned ratio Correct answer-net income + interest expense + tax expense /
interest expense
Gross profit ratio Correct answer-gross profit / net sales
Return on assets Correct answer-net income / average total assets
Asset turnover Correct answer-net sales / average total assets
Return on equity Correct answer-net income / average stockholders' equity
Dividend Yield Correct answer-dividends per share / stock price
, ACC 200 Final Exam; Questions & Answers
100% Verified
Earnings per share Correct answer-net income - preferred stock dividends / average
shares of common stock outstanding
Net Income Correct answer-Revenues - Expenses
For the year ended December 31st, 2018 Correct answer-Income Statement and
Statement of Stockholders' Equity
Issue common stock in exchange for cash of $2,500. Correct answer-Debit - Cash : 2,500
Credit - Common Stock : 2,500
Purchase sewing equipment by signing a note with the local bank, $2,200. Correct
answer-Debit - Equipment : 2,200
Credit - Note Payable : 2,200
Pay rent of $550 for March. Correct answer-Debit - Rent Expense : 550
Credit - Cash : 550
100% Verified
Receivables turnover ratio Correct answer-net credit sales / average accounts receivables
Inventory turnover ratio Correct answer-costs of goods sold / average inventory
Current ratio Correct answer-current assets / current liabilities
Debt to equity ratio Correct answer-total liabilities / stockholders' equity
Times interest earned ratio Correct answer-net income + interest expense + tax expense /
interest expense
Gross profit ratio Correct answer-gross profit / net sales
Return on assets Correct answer-net income / average total assets
Asset turnover Correct answer-net sales / average total assets
Return on equity Correct answer-net income / average stockholders' equity
Dividend Yield Correct answer-dividends per share / stock price
, ACC 200 Final Exam; Questions & Answers
100% Verified
Earnings per share Correct answer-net income - preferred stock dividends / average
shares of common stock outstanding
Net Income Correct answer-Revenues - Expenses
For the year ended December 31st, 2018 Correct answer-Income Statement and
Statement of Stockholders' Equity
Issue common stock in exchange for cash of $2,500. Correct answer-Debit - Cash : 2,500
Credit - Common Stock : 2,500
Purchase sewing equipment by signing a note with the local bank, $2,200. Correct
answer-Debit - Equipment : 2,200
Credit - Note Payable : 2,200
Pay rent of $550 for March. Correct answer-Debit - Rent Expense : 550
Credit - Cash : 550
