The net income for a company was $400,000 last year and is $500,000 this year. The percentage of increase or decrease is
a. 20%; b. 25%; c. 80%; d. 125%; e. cannot be determined from the information given
B
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Indicate whether the statement is true or false
The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year$128,000?Cash dividends declared for the year 48,000?Proceeds from the sale of equipment 83,000?Gain on the sale of equipment 7400?Cash dividends payable at the beginning of the year 20,000?Cash dividends payable at the end of the year 22,400?Net income for the year 94,000?What is the ending balance for retained earnings?
A. $178,000. B. $174,000. C. $280,000. D. $204,000. E. $252,000.
The problem with the constant dividend payout ratio is
A) management cannot decrease the dividend when times are tough. B) management is reluctant to cut the dividend even if there are low profits that year. C) the dollar amount of the dividend fluctuates from year to year. D) investors may come to expect a specified amount.
Which of the following is likely to be a fully deductible business expense?
A. The cost of a three-year subscription to a business publication. B. The cost of employee uniforms that can be adapted to ordinary personal wear. C. Salaries in excess of the industry average paid to attract talented employees. D. A speeding fine paid by a trucker who was delivering a rush order. E. None of the choices are likely to be deductible.