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To view answers to Accounting 101 Semester 1 2009 Test answers attend my workshop

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Question 1:
A sportsware manufacturer sells tennis rackets for $90 each. Variable costs are $50 per unit. Fixed costs are $15,000 (excluding depreciation). Its only depreicable asset is a machine with a value of $110,000, a useful life of 6 years and a salvage value of 30,000. What is the accounting break-even? Ignore taxes
(a) 708
(b) 564
(c) 1080
(d) 956

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Question 2:
If the sportsware manufacturer in the previous question expects sales of 1200, what is its profit to the nearest thousand
(a) $5,000
(b) $10,000
(c) $15,000
(d) $20,000
(e) $25,000

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Question 7: A company had the following ratios in years 2008 and 2009:

Ratio Name 2008 2009
Current Ratio 0.5 0.5
Acid ratio 0.3 0.4

What caused the acid ratio to increase while the current ratio remained the same?

(a) An increase in cash
(b) The creation of prepayments
(c) An increase in inventory
(d) A decrease in Inventory
Question 8:
Which of the following is not a ratio used to address the profitability of the firm?
(a) Return on Assets
(b) Return on Equity
(c) Interest Cover
(d) Gross Profit Margin

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Question 9:
On the cash flow statement the payment of a dividend would be classified under
(a) Operating activities
(b) Investing activities
(c) Financing activities
(d) Neither

Question 10: Which of the following is not a Current Asset:
(a) Inventory
(b) Property expected to be sold in the next twelve months (more…)

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A lot of students have complained that accounting 101 is not offering answers to past tests! However, businessed101 is here to help!!!

I am offering one exclusive workshop on Wednesday the 16 of September (Week 7). The cost will be $10 and it will be help between 2-3 in OGGB room 321. We will go over a past test and I will explain each answer in detail. To book a place email: businessed101@gmail.com or text 0210724101

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