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21) Which of the following occurs when a cash dividend is declared? A) Liabilities remain unchanged. B) Stockholders' equity decreases. C) Liabilities decrease. D) Assets increase. 22) Dividends in arrears are: A) a liability on the balance sheet. B) passed dividends on noncumulative preferred stock. C) passed dividends on cumulative preferred stock. D) passed dividends on common stock. 23) Saturn.

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11) Which of the following accounting principles requires that warranty expenses must be estimated and recognized in the same period as the related sales revenue is recognized? A) the matching principle B) the disclosure principle C) the revenue principle D) the consistency principle 12) Bison Company reported sales revenue for 2013 of $900,000. The products.

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Learning Objective 11-5 1) Investors use the times-interest-earned ratio to evaluate a business's ability to pay interest expense. 2) The times-interest-earned ratio is also called the short interest ratio. 3) A high interest-coverage ratio indicates a business's difficulty in paying interest expense. 4) The times-interest-earned ratio is calculated as: A) earnings before interest and tax.

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11) The following information is from the balance sheet of Tudor Corporation as of December 31, •   2015. Preferred Stock, $100 par $300,000 Paid-in Capital in Excess of Par—Preferred 21,000 Common Stock, $1 par 102,000 Paid-in Capital in Excess of Par—Common 306,000 Retained Earnings 78,900 Total Stockholders' Equity $807,900 What was the total paid-in capital as of December 31, 2015? A) $606,000 B) $807,900 C) $729,000 D).

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11) Simonsen, Paulson, and Richardson are partners in a firm with the following capital account balances: Simonsen $50,000 Paulson 160,000 Richardson 100,000 The profit-and-loss-sharing ratio among Simonsen, Paulson, and Richardson is 1:3:2, in the order given. Paulson is retiring from the partnership on December 31, 2013. Paulson's capital account is settled at book value. Journalize the cash.

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9) The information related to Stereo Music is given below: Year ended December 31, 2012 Year ended December 31, 2013 Net Income $81,510 $210,570 Income Tax Expense 55,910 103,505 Interest Expense 6,595 59,505 Calculate the times-interest-earned ratio for each year and also state the percentage change in the ratio. 10) Ferro Inc. signed a 200-day, 5%, $5,000 note on April 1, 2014, and.

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41) Which of the following will happen to a stockholder's percentage ownership in the stock of a corporation when the corporation declares a stock dividend? A) The stockholder's percentage ownership decreases. B) The stockholder's percentage ownership can increase or decrease. C) The stockholder's percentage ownership increases. D) The stockholder's percentage ownership remains unchanged. 42) Which.

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