（單選題）FactPattern:ThefinancialstatementsforDividendosaurusIncforthecurrentyearareasBalanceStatementeandRetained$CostofgoodsGross$Operations $

ebefore $ e 英文P2

$Add:Jan.1retained Less: Dec.31retained Dividendosaurushasreturnonassets

A、B、C、D、45查看解析只看錯題

正確答案是：A

展開答疑我要糾 收藏試題|收起解 Answer(A)isThereturnonassetsistheratioofnet etototalassets.ForDividendosaurus,itequals21.1%($200net e÷$950totalassets).Answer(B)isTheratioofnet etocommonequityis39.2%.Answer(C)isincorrect.Theratioof ebeforetaxtototalassetsis42.1%.Answer(D)isincorrect.Theratio ebeforeinterestandtaxtototalassetsis Unit3Profitabilityysisandytical （單選題）FactPattern:ThefinancialstatementsforDividendosaurusIncforthecurrentyearareasfollowsDividendosaurushasaprofitmarginofBalance Statement eandRetained$Costofgoods Gross $ Long-term Capital Retained

Operations Interest ebefore e Add:Jan.1retained Less: Dec.31retainedearnings DividendosaurushasaprofitmarginofA、667%C、14D、46正確答案是：A

展開答疑我要糾 收藏試題|收起解 Answer(A)isTheprofitmarginistheratioofnet etosales.ForDividendosaurus,itequals6.67%($200net e÷$3,000sales).Answer(B)isTheratioof ebeforetaxtosalesis13.33%.Answer(C)isincorrect.Theratioof ebeforeinterestandtaxestosalesis14.33%.Answer(D)isincorrect.Theratioofgrossprofittosalesis Unit3Profitabilityysisandytical （單選題）Inthecurrentyear,GriffinInc.,had$15millioninsaleswhiletotalfixedcostswereheldto$6million.Thefirm’stotalassetsaveraged$20millionandthedebt-to-equityratiowascalculatedat0.60.Ifthefirm’sEBITis$3million,theinterestonalldebtis9%,andthetaxrateis40%,whatisthefirm’sreturnonequity?C、186%D、24正確答案是：A

展開答疑我要糾 收藏試題|收起解 Answer(A)isThefirststepistodeterminetheamountofequity.Ifthedebt-to-equityratiois.6,thecalculationis.6E+E=$20million.Thus,E(equity)equals$12.5million.Debtistherefore$7.5million.At9%,intereston$7.5millionofdebtis$675,000.Earningsbeforetaxes$2,325,000($3,000,000EBIT–$675,000interest).Ata40%taxrate,taxesare$930,000,whichleavesanet eof$1,395,000.Returnonequityiscalculatedbydividingthe$1,395,000bythe$12,500,000ofequitycapital,givinganROEof11.16%.Answer(B)isincorrect.Afailuretodeductinterestexpenseresultsin14.4%.Answer(C)isincorrect.Afailuretodeduct etaxesresultsin18.6%.Answer(D)isincorrect.Usingthewrongamountofequityresultsin Unit3Profitabilityysisandytical 4（單選題）WhiteKnightEnterprisesisexperiencingagrowthrateof9%withareturnonassetsof12Ifthedebtratiois36%andthemarketpriceofthestockis$38pershare,whatisthereturnonequity?A、768%展開答疑我要糾 收藏試題|收起解正確答案是：D Answer(A)isThefigureof7.68%isbasedon64%oftheROA.Answer(B)isincorrect.Thefigureof9.0%isthegrowthrate,nota(C)isThefigureof12.0%isthereturnonassets,notreturnonequity.Answer(D)iscorrect.Assumethatthefirmhas$100inassets,withdebtof$36andequityof$64. (return)is$12.The$12returnonassetsequatestoan18.75%returnonequity($12÷ Unit3Profitabilityysisandytical 5（單選題）actPattern:ThedatapresentedbelowshowactualfiguresforselectedaccountsofMcKeonforthefiscalyearendedMay31,Year1,andselectedbudgetfiguresfortheYear2fiscalyear.McKeon’scontrollerisintheprocessreviewingtheYear2budgetandcalculatingsomekeyratiosbasedonthebudget.McKeonmonitorsyieldorreturnratiosusingtheaveragefinancialpositionofthe.(Roundallcalculationstothreedecimalcesifnecessary.) Current Noncurrent Current Long-termdebt 75,00030,000Commonstock($30parvalue)300,000300,000Retained 32,000Year2 Costofgoods Interest etaxes(40%rate) DividendsdeclaredandpaidinYear60,000 *AllsalesarecreditCurrentAssets5/31/Year2 $ Prepaidexpenses TheYear2returnonequityforMcKeonisC、0D、0展開答疑我要糾 收藏試題|收起解正確答案是：B Answer(A)isReturnonequityequalsnet edividedbyaveragestockholders’equity.Answer(B)iscorrect.Returnonequityequals eof$72,000($350,000sales–$160,000COGS$3,000interestexpense–$48,000taxes–$67,000administrativeexpenses)dividedbytheaveragestockholders’equity(yieldorreturnratiosarebasedonaveragefinancialpositioninthesequestions).Theaverageequityof$326,000isfoundbyaveragingthe$320,000sumofthecommonstockandretainedearningsatMay31,Year1,with$332,000endingbalance.Dividingthe$72,000net eby$326,000producesarateofreturnof22.1%.Answer(C)isReturnonequityequalsnet edividedbyaveragestockholders’equity.Answer(D)isincorrect.Returnonequityequals edividedbyaveragestockholders’ Unit3Profitabilityysisandytical 6（單選題）InYear3, Manufacturing’sgrossprofitmarginremainedunchangedfromYear2.But,inYear3,the’snetprofitmargindeclinedfromthelevelreachedinYear2.Thiscouldhavehappenedbecause,inYear3,B、CostofgoodssoldincreasedrelativetoC、Salesincreasedatafasterratethanoperatingexpenses.D、Commonsharedividendsincreased.展開答疑我要糾 收藏試題|收起解 Answer(A)isGrossprofitmarginisnetsalesminuscostofgoodssold.Netprofitmarginisgrossprofitmarginminusallremainingexpensesandlosses,oneofwhichis etaxes.Ifcorporatetaxratesincreased,netprofitmarginwoulddecrease,leavinggrossprofitmarginunchanged.Answer(B)isAchangeincostofgoodssoldwouldhaveaffectedgrossprofitmargin.Answer(C)isincorrect.Salesincreasingfasterthanoperatingexpenseswouldhaveresultedinanincrease,notadecrease,tonetprofitmargin.Answer(D)isAnyimpactondividendscannotbedeterminedfromtheinformation Unit3Profitabilityysisandytical 7（單選題）Colonie,Inc.,expectstoreportnet eofatleast$10millionannuallyfortheforeseeablefuture.Coloniecouldincreaseitsreturnonequitybytakingwhichofthefollowingactionswithrespecttoitsinventoryturnoverandtheuseofequity UseofEquity 展開答疑我要糾 收藏試題|收起解正確答案是：B Answer(A)isIncreasingequityfinancingraisesthedenominator,loweringtheoverallreturnonequityAnswer(B)isReturnonequity,inthemostgeneralterms,istheratioofnet etototalequity.Increasinginventoryturnoverraisesthenumerator,anddecreasingequityfinancinglowersthedenominator.Thiscombinationisthustheonlyeffectivemeansofincreasingreturnonequity.Answer(C)isincorrect.Decreasinginventoryturnoverlowersthenumerator,loweringtheoverallreturnonequityAnswer(D)isDecreasinginventoryturnoverlowersthenumerator,loweringtheoverallreturnonequity Unit3Profitabilityysisandytical 8（單選題）FactPattern:TheinformationbelowpertainstoDevlinStatementofFinancialPositionasofMay31(inthousands)Year2YearCurrent Trading Accountsreceivable Prepaid $255Investments,at Property,nt,andequipment Intangibleassets Total $748CurrentNotes etaxes Totalcurrentliabilities Long-term Deferred Total $163Preferredstock,6%,$100par $150Commonstock,$10par Additionalpaid-incapital-- Retained Total $585Totalliabilitiesand $748Devlin’srateofreturnonassetsfortheyearendedMay31,Year2,A、72%C、7D、11展開答疑我要糾 收藏試題|收起解正確答案是：B Answer(A)isThefigureof7.2%usesendingtotalassetsinsteadofaveragetotalassets.Answer(B)iscorrect.Therateofreturnonassetsequalsnet edividedbyaveragetotalassets.Accordingly,therateofreturnis7.5%{$54÷[($748+$691)÷2]}.Answer(C)is edividedbybeginningtotalassetsequals7.8%.Answer(D)isincorrect.Thereturnonsalesis Unit3Profitabilityysisandytical 9（單選題）FactPattern:TheinformationbelowpertainstoDevlinStatementofFinancialPositionasofMay31(inthousands)Year2YearCurrent Trading Accountsreceivable Prepaid $255Investments,at Property,nt,andequipment Intangibleassets Total $748CurrentNotes etaxes Totalcurrentliabilities Long-term Deferred Total $163Preferredstock,6%,$100par $150Commonstock,$10par Additionalpaid-incapital-- Retained Total $585Totalliabilitiesand $748Devlin’srateofreturnonassetsfortheyearendedMay31,Year2,A、72%C、7D、11 收藏試題|收起解正確答案是：B Answer(A)isThefigureof7.2%usesendingtotalassetsinsteadofaveragetotalassets.Answer(B)iscorrect.Therateofreturnonassetsequalsnet edividedbyaveragetotalassets.Accordingly,therateofreturnis7.5%{$54÷[($748+$691)÷2]}.Answer(C)is edividedbybeginningtotalassetsequals7.8%.Answer(D)isincorrect.Thereturnonsalesis Unit3Profitabilityysisandytical 10（單選題）FactPattern:Fortheyearjustended,BeechwoodCorporationhad efromoperationsof$198,000andneteof$96,000.Theliabilitiesandshareholders’equitysectionofBeechwood’sstatementoffinancialpositionisJanuary1December 7%bonds Commonstock($10par Reserveforbond Retained Totalliabilitiesandshareholders’ Beechwood’sreturnonshareholders’equityfortheyearjustendedA、19B、C、32D、39展開答疑我要糾 收藏試題|收起解正確答案是：A Answer(A)isReturnonequityconsistsofnet edividedbytotalequity.Sincethenumeratorisderivedfromthe estatement,thebalancesheetaccountsinthedenominatormustbeaveraged.Beechwood’sreturnisthuscalculatedasfollows:ROE$96,000÷{[($300,000+$300,000)÷2]+[($12,000+$28,000)÷2]+[($155,000+$206,000)÷=$96,000÷($300,000+$20,000+=$96,000÷Answer(B)isThispercentageresultsfromfailingtoincludethereserveforbondretirementintotalAnswer(C)isThispercentageresultsfromfailingtoincludethereserveforbondretirementandretainedearningsinthedenominator.Answer(D)isThispercentageresultsfromimproperlyusing efromoperationsratherthanneteinthenumerator. Unit3Profitabilityysisandytical 11（單選題）Foragivenlevelofsalesandholdingallotherfinancialstatementitemsconstant,a’sreturnonequity(ROE)willA、IncreaseastheirdebtratioB、Decreaseastheircostofgoodssoldasapercentofsalesdecrease.C、Decreaseastheirtotalassetsincrease.D、Increaseastheirequity展開答疑我要糾 收藏試題|收起解正確答案是：C Answer(A)isthedebtratioistotalliabilitiestototalassets.Ifthisratiodecreases,theneitherliabilitieswentdownorassetswentuporboth;sinceallotherfinancialstatementlineitemsareheldconstant,itwillhavenoeffectonthereturnonequity.Answer(B)is,ifcostofgoodssoldasapercentofsalesdecreases,returnonequitywillnotbeAnswer(C)isAfirm’sreturnonequityisameasureofhowmuchequitycapitalisemployedtogenerateitslevelofearnings.Inthiscase,anincreaseintotalassetsmeansanincreaseinequity(sinceallotherfinancialstatementitemsarebeingheldconstant).Equityisthedenominator,andanincreaseinthedenominatormeansadecreaseintheoverallratio.Answer(D)isincorrect.,ifequityincreases,returnonequitywill Unit3Profitabilityysisandytical 12（單選題）AndersonCablewishestocalculateitsreturnonassetsYouknowthatthereturnonequityis12%andthatthedebtratiois40%.Whatisthereturnonassets?A、48%C、12D、20展開答疑我要糾 收藏試題|收起解正確答案是：B Answer(A)is4.8%resultsfromfailingtosubtractthedebtratiofrom1.Answer(B)iscorrect.Theentire eaccruestotheequityholders.Iftotalassetsequal$100,thenequitymustbe60%ofthat,or$60.A12%returnon$60wouldbe$7.20.Returnonassetsiscalculatedusingthefollowingformula:Returnonassets=Returnonequity×(1–Debtratio)ForAndersonCable,thecalculationis12%×60%=7.2%Answer(C)isincorrect.returnonassetsisnotthesameasreturnonequity.Answer(D)isincorrect.20%isthedifferencebetweenthedebtratioand(1–debt Unit3Profitabilityysisandytical 13（單選題）ZoronCorporationexperiencedthefollowingyear-over-yearNetprofit IncreasedTotalasset IncreasedTotal DecreasedTotal IncreasedUsingDuPontysis,whatistheyear-over-yearchangeinZoron’sreturnonequityA、Increased95B、IncreasedC、IncreasedD、Increased|正確答案是：C Answer(A)isTheDuPontModelforROEisasfollows:Netprofitmargin×Totalassetturnover×Equitymultiplier(Totalassets÷Totalequity).Theyear-over-yearchangeisnotcalculatedbysimplyaddingandsubtractingtheincreasesanddecreasesfromlastyeartothisyear.Theincorrectamountof95%resultsfromaddingandsubtractingtheyear-over-yearchanges(25%+40%–10%+40%).Answer(B)isTheyear-over-yearchangeisnotcalculatedbysimplydividingtheincreaseinthenetprofitmarginbytheincreaseinthetotalassetturnover.Answer(C)isTheROEusingtheDuPontysisiscalculatedasNetprofitmargin×Totalassetturnover×Equitymultiplier(Totalassets÷TotalThebestwaytosolvethisproblemistouseactualnumbersforthereturnonequitycomparisonofthisyeartolastyear.AssumingthatlastyearZoronhadanetprofitmarginof.025,totalassetturnoverof1.05,totalassetsof$500,000,andtotalequityof$200,000,lastyear’sROEisequalto6.56%[.025×1.05×($500,000÷Byusingtheinformationgivenintheproblem,Zoron’scurrent-yearamountscanbecalculated,resultinginanetprofitmarginof.03125(increasedby25%),totalassetturnoverof1.47(increasedby40%),totalassetsof$450,000(decreasedby10%),andtotalequityof$280,000(increasedby40%).Therefore,thisyear’sROEisequalto7.38%[.01325×1.47×(450,000÷280,000)].TheincreaseinROEfromlastyeartothisyearcannowbecalculatedas12.5%[(7.38–6.56)÷6.56].Answer(D)isThisanswerchoiceincorrectlymultiplestheyear-over-yearchangeforthenetprofitmarginbytheyear-over-yearchangeforthetotalassetturnovertogetanincreaseinROEof10.0%. Unit3Profitabilityysisandytical 14（單選題）IfAhasahigherrateofreturnonassetsthanB,thereasonmaybethatAhasaprofitmarginonsales,aassetturnoverratio,orboth.List List 展開答疑我要糾 收藏試題|收起解正確答案是：A Answer(A)isTheDuPontmodeltreatsthereturnonassetsastheproductoftheprofitmarginandtheassetturnover:Ifonehasahigherreturnonassetsthananother,itmayhaveahigherprofitmargin,ahigherassetturnover,orboth.Answer(B)isAhigherprofitmarginonsalesorahigherasset-turnoverratiomayexinahigherreturnonassets.Yoursessionhasexpired.Pleaseloginagaintocontinue.Answer(C)isincorrect.Ahigherprofitmarginonsalesorahigherasset-turnoverratiomayexinahigherreturnonassets.Answer(D)isAhigherprofitmarginonsalesorahigherasset-turnoverratiomayexinahigherreturnonassets. Unit3Profitabilityysisandytical 15（單選題）ThefollowinginformationpertainstoAndrewCo.fortheyearendedDecember31: Averagetotal WhichoneofthefollowingformulasdepictstheuseoftheDuPontmodeltocalculateAndrew’sreturnonA、(720,000480,000720,000B、(480,000720,000720,000C、(720,000480,000120,000D、(480,000720,000120,000展開答疑我要糾 收藏試題|收起解正確答案是：C Answer(A)isTheDuPontmodeldepictsreturnonassetsastotalassetturnover(salesdividedbyaveragetotalassets)timestheprofitmargin(net edividedbysales).Answer(B)isTheDuPontmodeldepictsreturnonassetsastotalassetturnover(salesdividedbyaveragetotalassets)timestheprofitmargin(net edividedbysales).Answer(C)isTheDuPontmodeldepictsreturnonassetsastotalassetturnover(salesdividedbyaveragetotalassets)timestheprofitmargin(net edividedbysales).Therefore,Andrew’sROAcalculationusestheformula[($720,000÷$480,000)×($120,000÷Answer(D)isTheDuPontmodeldepictsreturnonassetsastotalassetturnover(salesdividedbyaveragetotalassets)timestheprofitmargin(net edividedbysales) Unit3Profitabilityysisandytical 16（單選題）InterstateMotorshasdecidedtomakeanadditionalinvestmentinitsoperatingassetsthatarefinancedbydebt.Assumingallotherfactorsremainconstant,thisincreaseininvestmentwillhavewhichoneofthefollowingeffects?OperatingOperatingReturnon A、IncreastNochangeB、NochangeDecreaseDecreaseC、NochangeIncreaseDecreaseD、DecreaseDecrease展開答疑我要糾 收藏試題|收起解正確答案是：B Answer(A)isAssetturnoverwilldecrease.Answer(B)iscorrect.Ifallelseremainsconstant,anadditionalinvestmentinoperatingassetswillnotchangeebutwillaffectthebalancesheet.Assetturnoverwilldecreasebecauseanunchangednumerator(sales)willbedividedbyanincreasedamountoffixedassets.Returnonoperatingassetswilldeclinebecauseanunchangednumerator( e)willbedividedbygreaterassets.Answer(C)isincorrect.Assetturnoverwilldecrease.Answer(D)isincorrect. ewillnot Unit3Profitabilityysisandytical 17（單選題）SelectedfinancialdataforTVXCorporationfortheyearisshownBeginningof Shares Marketpricepershare Earningsbeforeinterestand Interest Usingtheabovedatathefirm’sreturnonequityusingtheDuPontmodelA、B、C、22%展開答疑我要糾 收藏試題|收起解正確答案是：C解析Answer(AisThispercentageincorrectlyusesnet einsteadofsalesfortheequitymultiplier.Answer(B)isincorrect.Thispercentageusesendingequityinsteadofaverageequityfortheequitymultiplier.Answer(C)iscorrect.TheDuPontmodeldepictsreturnonequityastheprofitmargin(net edividedbysales)timestotalassetturnover(salesdividedbyaveragetotalassets)timestheequitymultiplier(averagetotalassetsdividedbyaveragetotalequity).Thus,thereturnonequityusingtheDuPontmodelis3.27%($720,000÷ 2.24($22,000,000÷ 2.97($9,800,000÷$3,3300,000)(D)isThispercentageusestheincorrectnet eamountwhencalculatingprofitmargin.The eamountonlydeductsinterestexpensefromearningsbeforeinterestandtaxandfailstodeducttaxes.考點Unit3Profitabilityysisandytical 18（單選題）TheDuPontformulainvolveswhichcombinationoffinancialelementsinitsA、Netprofitmargintotalassetturnoverandequitymultiplier.B、Totalassetturnoverandsalesturnoverprofitability.C、Profitmarginsalesturnoverandasset-useD、Totalassetturnoversalesturnoverandequity展開答疑我要糾 收藏試題|收起解正確答案是：A Answer(A)isTheDuPontmodelbeginswiththestandardequationforreturnonequity(ROE)andbreaksitdownintothreedifferentefficiencycomponents.ROE=Netprofitmargin×Assetturnover×EquitymultiplierAnswer(B)isincorrect.TheDuPontmodelalsoinvolvesnetprofitmarginandequitymultiplier.Answer(C)isincorrect.TheDuPontmodelalsoinvolvestotalassetturnoverandequitymultiplier.Answer(D)isincorrect.TheDuPontmodelalsoinvolvesnetprofit Unit3Profitabilityysisandytical 19（單選題）AccordingtotheDuPontformulawhichoneofthefollowingwillnotincreaseaprofitablefirm’sreturnonA、Increasingtotalassetturnover.B、Increasingnetprofitmargin.C、Loweringcorporate D、Loweringequitymultiplier.展開答疑我要糾 收藏試題|收起解正確答案是：D Answer(A)isIncreasingtotalassetturnoverwouldincreaseaprofitablefirm’sreturnonequity.Answer(B)isincorrect.Increasingnetprofitmarginwouldincreaseaprofitablefirm’sreturnonequity.Answer(C)isincorrect.Loweringcorporate etaxeswouldincreaseaprofitablefirm’sreturnonequity.Answer(D)iscorrect.Loweringtheequitymultiplierwouldnotincreaseaprofitablefirm’sreturnonDuPontmodeldepictsreturnonassetsastotalassetturnover(salesdividedbytotalassets)timestheprofitmargin edividedby Unit3Profitabilityysisandytical 20（單選題）Bookvaluepercommonsharerepresentstheamountofequityassignedtoeachoutstandingshareofcommonstock.Whichoneofthefollowingstatementsaboutbookvaluepercommonshareistrue?A、MarketpricepercommonshareusuallyapproximatesbookvaluepercommonB、BookvaluepercommonsharecanbemisleadingbecauseitisbasedonhistoricalC、AmarketpricepercommonsharethatisgreaterthanbookvaluepercommonshareisanindicationofanovervaluedD、Bookvaluepercommonshareistheamountthatwouldbepaidtoshareholdersiftheweresoldto.展開答疑我要糾 收藏試題|收起解正確答案是：B Answer(A)isMarketpricemaybemoreorlessthanbookvalue.Answer(B)iscorrect.Bookvalueisbasedonthefinancialstatements,whicharestatedintermsofhistoricalcostandnominaldollars.Thefigurecanbemisleadingbecausefairvaluesmaydiffersubstantiallyfrombookfigures.Answer(C)isFairvaluemaybemoreaccuratethanthecarryingvaluesifthehistoricalcostfiguresareoutofdate.Answer(D)isTheamountanotherwouldpaywouldbebasedonfairvalues,notbook Unit3Profitabilityysisandytical 21（單選題）Theissuanceofnewsharesinafive-for-onesplitofcommonA、Decreasesthebookvaluepershareofcommonstock.B、Increasesthebookvaluepershareofcommonstock.C、Increasestotalshareholders’equity.D、Decreasestotalshareholders’展開答疑我要糾 收藏試題|收起解正確答案是：A Answer(A)isGiventhatfivetimesasmanysharesofstockareoutstanding,thebookvaluepershareofcommonstockisone-fifthoftheformervalueafterthesplit.Answer(B)isThebookvaluepershareisdecreased.Answer(C)isincorrect.Thestocksplitdoesnotchangetheamountofshareholders’equity.Answer(D)isincorrect.Thestocksplitdoesnotchangetheamountofshareholders’ Unit3Profitabilityysisandytical 22（單選題）Thebookvaluepersharecalculationofacorporationisusuallysignificantlydifferentfromthemarketvalueofthestock’ssellingpriceduetotheA、UseofaccrualaccountinginpreparingfinancialB、Omissionofthenumberofpreferredsharesoutstandingatyear-endinthecalculation.C、Useofhistoricalcostsinpreparingfinancialstatements.D、missionoftotalassetsfromthenumeratorinthecalculationAnswer(A)isStockmarketinvestorsbasetheirdecisionsonfairvalues,andaccrualaccountingcontributestothedeterminationoffairvalues.Thus,bothbookvalueandmarketvaluerelyonaccrualaccounting.Answer(B)isPreferredsharesarenotomittedwhenbookvaluepershareofpreferredstockiscalculated.Answer(C)iscorrect.Astock’sbookvalueistheamountofnetassetsavailabletotheholdersofagiventypeofstock,dividedbythenumberofthosesharesoutstanding.Themarketpriceistheamountthatastockmarketinvestoriswillingtopayforthestock.Thetwovaluesarenormallydifferentbecausethebookvalueisbasedprimarilyonhistoricalcostexpressedinnominaldollars.Accordingly,thebookvaluemaybemisleadingbecausebookvaluesofassetsmaydiffermateriallyfromthefairvaluesofthosesameassets.Answer(D)isNet,nottotal,assetsareavailabletoshareholders.Hence,thenumeratorinthebookvaluecalculationisbasedonnet展開答疑我要糾 收藏試題|收起解正確答案是：C Unit3Profitabilityysisandytical 23（單選題）FactPattern:TheStatementofFinancialPositionforKingProductsCorporationforthefiscalyearsendedJune30,Year2,andJune30,Year1,ispresentedbelowNetsalesandcostofgoodssoldfortheyearendedJune30,Year2,$600,000and$440,000,KingProductsCorporationStatementofFinancialPosition(inthousands)June $ $B、$1450展開答疑我要糾 收藏試題|收起解正確答案是：D Answer(A)isTheparvaluepershareofthecommonstockis$10;bookvalueincludesadditionalpaid-incapitalandretainedearnings.Answer(B)isTheamountof$14.50isbasedon40,000authorizedshares.Answer(C)isincorrect.ThebookvalueattheendofYear1was$18.33.Answer(D)iscorrect.Bookvalueequalsequityattributabletoaclassofstockdividedbythenumberofsharesoutstanding.Atyear-end,30,000sharesofcommonstockareoutstanding.Equityattrbutabletothecommonshareholdersincludesallequityexceptpreferredstock.Thus,thebookvalueofashareofcommonstockis$19.33[($780,000totalequity–$200,000preferredstock)÷30,000sharesofcommonstock]. Unit3Profitabilityysisandytical 24（單選題）FactPattern:ThedatapresentedbelowshowactualfiguresforselectedaccountsofMcKeonforthefiscalyearendedMay31,Year1,andselectedbudgetfiguresfortheYear2fiscalyear.McKeon’scontrollerisintheprocessreviewingtheYear2budgetandcalculatingsomekeyratiosbasedonthebudget.McKeonmonitorsyieldorreturnratiosusingtheaveragefinancialpositionofthe.(Roundallcalculationstothreedecimalcesifnecessary.) Current Noncurrent Current Long-termdebt Commonstock($30parvalue)300,000 Retained Year2 Costofgoods Interest etaxes(40%rate) DividendsdeclaredandpaidinYear60,000 *AllsalesarecreditCurrentAssets5/31/Year2 $ Prepaidexpenses ThepersharebookvalueofMcKeon’scommonstockforYear2isB、$3200展開答疑我要糾 收藏試題|收起解正確答案是：A Answer(A)isWhennopreferredstockisoutstanding,thebookvaluepershareequalstotalshareholders’equitydividedbythenumberofsharesoutstandingatthebalancesheetdate.Thus,dividing$332,000($300,000commonstock+$32,000retainedearnings)by10,000sharesresultsinabookvalueof$33.20pershare.Answer(B)isBookvaluepercommonshareisthesumofequityattributabletocommonstockandretainedearningsdividedbythenumberofcommonsharesoutstanding.Answer(C)isBookvaluepercommonshareisthesumofequityattributabletocommonstockandretainedearningsdividedbythenumberofcommonsharesoutstanding.Answer(D)isBookvaluepercommonshareisthesumofequityattributabletocommonstockandretainedearningsdividedbythenumberofcommonsharesoutstanding. Unit3Profitabilityysisandytical 25（單選題）ConsiderthefollowingfinancialLarsenManufacturing,Inc.StatementofFinancialPositionDecember31(inthousands)Current Long-term Total Current Long-term Total Shareholders’Preferred–6%cumulative,$100par,authorized,issued,andoutstanding35,000 Common–$5par,3,000,000sharesauthorized,1,050,000sharesissuedand Additionalpaid-incapital– Retained Totalshareholders’ Totalliabilitiesand BasedontheabovefinancialdataandassumingthatLarsenhadnopreferredstockdividendsinarrears,the’sbookvaluepershareatDecember31ofthecurrentyearisC、$994展開答疑我要糾 收藏試題|收起解正確答案是：C Answer(A)isImproperlycountingonlythevalueofcommonstockinthenumeratorresultsin$5.00.Answer(B)isincorrect.Improperlyincludingonlycommonstockandadditionalpaid-incapitaloncommonstockinthenumeratorresultsin$7.50.Answer(C)isBookvaluepershareiscalculatedwiththefollowingForLarsen,thecalculationisasBookvaluepershare=($13,934,000–$3,500,000)÷=$10,434,000÷=Answer(D)isFailingtodeducttheliquidationvalueofpreferredstockfromthenumeratorresults Unit3Profitabilityysisandytical 26（單選題）Whichoneofthefollowingstatementsabouttheprice-earnings(P/E)ratioisA、AwithhighgrowthopportunitiesordinarilyhasahighP/EB、AP/EratiohasmoremeaningwhenafirmhaslossesthanwhenithasC、AP/Eratiohasmoremeaningwhenafirmhasabnormallylowprofitsinrelationtoitsassetbase.D、AP/Eratioexpressestherelationshipbetweenafirm’smarketpriceanditsnetsales.展開答疑我要糾 收藏試題|收起解正確答案是：A Answer(A)isAwithhighgrowthopportunitiestypicallyhasahighP/Eratiobecauseinvestorsarewillingtopayapriceforthestockhigherthanthatjustifiedbycurrentearnings.Ineffect,theyaretradingcurrentearningsforpotentialfutureearnings.Answer(B)isAP/Eratiocannotbecomputedwhenafirmhaslosses.Answer(C)isincorrect.Afirmwithabnormallylowprofitscouldhaveanextremelyhigh,andthusmeaningless,P/EAnswer(D)isTheP/Eratioexpressestherelationshipbetweenmarketpriceandafirm’s Unit3Profitabilityysisandytical 27（單選題）InformationconcerningHamilton’scommonstockispresentedbelowforthefiscalyearendedMay31,Year2.Commonstockoutstanding Statedvalueper Year1dividendspaidper Year2dividendspaidper Basicearningper Dilutedearningsper Theprice-earningsratioforHamilton’scommonstock.C、50D、60展開答疑我要糾 收藏試題|收起解正確答案是：C Answer(A)isThefigureof3.0isbasedonuseofthestatedvaluepershareasthedenominator.Answer(B)isincorrect.Thefigureof4.0isbasedonerroneouslyusing