Hodges, Inc. had the following assets and liabilities as of September 30, 2013: Assets – $56,327 and Liabilities – $28,416. If assets increased by $3,914 and equity increased by $2,290 during October, what is the increase or decrease in liabilities of Hodges as of October 31, 2013?

Question

Question 1 of 40

In using the total cost concept of applying the cost-plus approach to product pricing, only profit is covered in the markup.

True

False

Question 2 of 40

What is the effect of a stock dividend on the balance sheet?

A. Decrease total assets and decrease total stockholders’ equity

B. Decrease total assets and increase total stockholders’ equity

C. Increase total liabilities and decrease total stockholders’ equity

D. No effect on total assets, total liabilities, or total stockholders’ equity

Question 3 of 40

Hodges, Inc. had the following assets and liabilities as of September 30, 2013: Assets – $56,327 and Liabilities – $28,416. If assets increased by $3,914 and equity increased by $2,290 during October, what is the increase or decrease in liabilities of Hodges as of October 31, 2013?

A.($1,624)

B.$1,624

C.$6,204

D.($6,204)

Question 4 of 40

In computing the rate earned on total assets, interest expense is added to net income before dividing by average total assets.

A. True

B. False

Question 5 of 40

Cash dividends are not paid on shares of treasury stock.

A. True

B. False

Question 6 of 40

Earnings per common share is one factor that influences the decision to use debt financing or equity financing.

A. True

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