Problem 1: Which one of the following values will not change when a firm declares a large stock dividend?
a. common stock account balance
b. par value per share
c. market price per share
d. retained earnings account balance
Problem 2: The Corner Market has sales of 898,000 and a cost of goods sold equal to 70% of sales. The beginning inventory is 64,000 and the ending inventory is 71,000. What's the length of the inventory period?
a. 39.2 days
b. 13.3 days
c. 27.4 days
d. 9.3 days
Problem 3: TRIa Inc has projected quarterly sales of $1800, $2,400, $2,800 and $1200 for quarters 1-4 respectively. The accounts receivable period is 30 days. How much will the firm collect in quarter 3? assume each quarter has 90 days.
a. 2600
b. 2400
c. 2533
d. 2667