5. Martin Jackson receives an hourly wage rate of $23, with time-and-a-half pay for all hours worked in excess of 40 hou

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5. Martin Jackson receives an hourly wage rate of $23, with
time-and-a-half pay for all hours worked in excess of 40 hours
during a week. Payroll data for the current week are as follows:
hours worked, 44; federal income tax withheld, $202; social
security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the
net amount to be paid to Jackson?
a. $776.65 b. $1,058.00 c. $1,438.65 d. $1,742.65
11. The charter of a corporation provides for the issuance of
100,000 shares of common stock. Assume that 43,000 shares were
originally issued and 5,000 were subsequently reacquired. What is
the number of shares outstanding?
a.43,000
b.48,000
c.38,000
d.5,000
12. What is the total stockholders' equity based on the
following account balances?
a.$722,970
b.$665,970
c.$521,700
d.$694,470
28. The net income reported on the income statement for the
current year was $253,891. Depreciation recorded on fixed assets
and amortization of patents for the year were $41,701 and $10,247,
respectively. Balances of current asset and current liability
accounts at the end and at the beginning of the year are as
follows:
What is the amount of the net cash flows from operating
activities reported on the statement of cash flows prepared by the
indirect method?
a.$232,735
b.$344,505
c.$268,183
d.$242,807
29. Cash dividends of $73,520 were declared during the year.
Cash dividends payable were $9,644 at the beginning of the year and
$15,906 at the end of the year. The amount of cash paid for
dividends during the year is
a.$83,164
b.$67,258
c.$73,520
d.$99,070