In 2019, Fun Company reports $5,000,000 of Net Income in the current year, after taking out 35% for taxes. They began the year with 2,000,000 shares of common stock.  On 4/1/2019 they issue an additional 1,200,000 shares and on 10/1/2019 they repurchase 400,000 shares.  Fun Company has 100,000 shares of $100 par, 5% cumulative preferred stock and while they pay no cash dividends in the current year they did pay a 20% stock dividend on 3/1/2019 to their common shareholders. What is the weighted average common shares outstanding for 2019?  

ABC Corp. reported an ending cash balance of $200,000 on 12/31/2012 and a beginning cash balance of $100,000 on 12/31/2011. They further reported a $350,000 cash inflow from Operating Activities, and a $200,000 outflow from Financing Activities.  They only had two cash flows relating to investing and one of those cash flows was a $100,000 purchase of equipment. What is the cash flow from investing for the other activity?

Builder Inc. enters into a contract to build a house for XYZ, Inc. on 4/1/2016 for $500,000. The terms of the contract requires that the building be completed by 3/31/2017, and offers a $50,000 bonus if the building is completed by 3/1/2017.  Based on past experience, Builder Inc. is 65% confident that will be able to make the 3/1/2017 deadline and receive the bonus. Builder, Inc. records revenue evenly over the construction of the building. How much revenue will Builder Inc. record in 2016 related to this project?

ABC Corp. reported an ending cash balance of $200,000 on 12/31/2012 and a beginning cash balance of $100,000 on 12/31/2011. They further reported a $350,000 cash inflow from Operating Activities, and a $200,000 outflow from Financing Activities.  They only had two cash flows relating to investing and one of those cash flows was a $100,000 purchase of equipment. Which of the following cash flows could represent the other investing cash flow?

ABC, Inc. prepares its financial statements consistent with a 12/31 fiscal period end. On 6/30/2014 ABC, Inc. received $100,000 for a basket of goods and services that were sold to XYZ, Inc. In exchange for the $100,000 ABC, Inc. agreed to deliver and install a state of the art machine on 7/1/2014, they also agreed to conduct an 8-hour training session for the current employees on 7/15/2014, and to conduct a second 8-hour training session on 1/15/2015.  Finally, ABC, Inc. will provide four years of customer support which will begin on 7/1/2014.  If sold separately, ABC, Inc. generally charges the following:                                                                   Amount                   Machine                                  $80,000                   Installation                              $12,000                   Training                                  $500 per hour                   Customer Support                   $25,000 When ABC, Inc. prepares their financial statements on 12/31/2014, how much Unearned Revenue will the record at the end of 2014?

Which of the following is not an Operating Cash Flow?

Which of the following is not a Financing Cash Flow?

On 12/14/2016 the Board of Directors declared a $2.00 per share dividend to be paid on 1/15/2017 to the shareholders of record on 12/28/2016. The Ex-dividend date for this stock is 12/26/2016.   Which of the dates listed below is the most relevant if you want to wait to purchase the stock, but make sure you purchase in time to ensure that you receive the dividend?

Use the following income statement and comparative balance sheet to find the following cash flows:   Income Statement                                                    2009 Revenues                                                              $600,000 -Cost of Goods Sold                                           -$300,000 Gross Margin                                                       $300,000 -Depreciation                                                      – $20,000 -Loss on Sale of Machine                                   – $15,000 -Salary expense                                                 – $150,000 -Tax expense                                                       – $15,000 Net Income                                                          $100,000   Balance Sheet                                                                                               12/31/2008                                       12/31/2009                            Cash                                                                             $22,000                                                $82,000 Accounts Receivable                                                   $30,000                                                $25,000 Inventory                                                                     $20,000                                                $40,000 Non-Current Deferred Tax Asset                                $5,000                                                  $25,000 Property, Plant, and Equipment, net                           $100,000                                             $120,000 Total Assets                                                                $177,000                                             $292,000   Accounts Payable – Salaries                                      $15,000                                                 $13,000 Accounts Payable – Inventory                                    $5,000                                                  $30,000 Common Stock                                                            $10,000                                                $10,000 APIC-C.S.                                                                    $62,000                                                $62,000 Treasury Stock                                                             ($5,000)                                                ($3,000) Retained Earnings                                                       $90,000                                                $180,000 Total Liabilities and Owners equity                           $177,000                                               $292,000 How much cash was paid to employees in 2009?  

Use the following income statement and comparative balance sheet to find the following cash flows:   Income Statement                                                    2009 Revenues                                                              $600,000 -Cost of Goods Sold                                           -$300,000 Gross Margin                                                       $300,000 -Depreciation                                                      – $20,000 -Loss on Sale of Machine                                   – $15,000 -Salary expense                                                 – $150,000 -Tax expense                                                       – $15,000 Net Income                                                          $100,000   Balance Sheet                                                                                               12/31/2008                                       12/31/2009                            Cash                                                                             $22,000                                                $82,000 Accounts Receivable                                                   $30,000                                                $25,000 Inventory                                                                     $20,000                                                $40,000 Non-Current Deferred Tax Asset                                $5,000                                                  $25,000 Property, Plant, and Equipment, net                           $100,000                                             $120,000 Total Assets                                                                $177,000                                             $292,000   Accounts Payable – Salaries                                      $15,000                                                 $13,000 Accounts Payable – Inventory                                    $5,000                                                  $30,000 Common Stock                                                            $10,000                                                $10,000 APIC-C.S.                                                                    $62,000                                                $62,000 Treasury Stock                                                             ($5,000)                                                ($3,000) Retained Earnings                                                       $90,000                                                $180,000 Total Liabilities and Owners equity                           $177,000                                               $292,000 How much cash was paid for inventory in 2009?