Accounting Computations

Accounting Computations

11th Grade

10 Qs

quiz-placeholder

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Accounting Computations

Accounting Computations

Assessment

Quiz

Others

11th Grade

Practice Problem

Hard

Created by

ALONA DICIANO

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Calculate the depreciation expense for an asset with a cost of $10,000, salvage value of $1,000, and a useful life of 5 years using the straight-line method.

$1,800 per year

$1,200 per year

$1,500 per year

$2,000 per year

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Determine the ending balance of accounts receivable if the beginning balance was $20,000, credit sales were $5,000, and cash collections were $3,000.

$25,000

$22,000

$4,000

$18,000

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Compute the net income for a company with revenues of $50,000, expenses of $30,000, and taxes of $5,000.

$15,000

$25,000

$20,000

$10,000

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Find the total assets of a company with liabilities of $20,000 and owner's equity of $30,000.

$50,000

$10,000

$40,000

$25,000

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Calculate the inventory turnover ratio if the cost of goods sold is $50,000 and average inventory is $10,000.

10

5

2

7

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Determine the current ratio for a company with current assets of $40,000 and current liabilities of $20,000.

0.5

3

2

1.5

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Compute the earnings per share (EPS) for a company with a net income of $100,000 and 50,000 outstanding shares.

$3.50

$1.50

$2

$4

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