Excerpts from Stealth Company’s December 31, 2021 and 2020,…

Excerpts from Stealth Company’s December 31, 2021 and 2020, financial statements are presented below:      2021   2020 Accounts receivable $ 30,000 $ 41,000 Inventory   38,000   37,000 Net sales (all credit)   196,000   193,000 Cost of goods sold   123,000   109,000 Total assets   426,000   412,000 Total stockholders’ equity   250,000   233,000 Net income   39,500   36,000   Stealth Company’s 2021 receivables turnover ratio is:

The board of directors of Capstone Inc. declared a $0.80 per…

The board of directors of Capstone Inc. declared a $0.80 per share cash dividend on its $2 par common stock. On the date of declaration, there were 41,000 shares authorized, 16,000 shares issued, and 7,000 shares held as treasury stock.What is the entry when the dividends are declared?   A. Dividends 7,200     Dividends Payable   7,200 B. Dividends 7,200     Cash   7,200 C. Dividends 32,800     Dividends Payable   32,800 D. Dividends 12,800     Cash   12,800  

Excerpts from Stealth Company’s December 31, 2021 and 2020,…

Excerpts from Stealth Company’s December 31, 2021 and 2020, financial statements are presented below:      2021   2020 Accounts receivable $ 30,000 $ 41,000 Inventory   38,000   37,000 Net sales (all credit)   196,000   193,000 Cost of goods sold   123,000   109,000 Total assets   426,000   412,000 Total stockholders’ equity   250,000   233,000 Net income   39,500   36,000   Stealth Company’s 2021 receivables turnover ratio is: