Accounting -Assume cost of goods sold on an accrual basis is $450,000

| January 30, 2017

Question
Assume cost of goods sold on an accrual basis is $450,000, accounts payable

increased by $30,000, and inventory increased by $75,000. Cash paid for

merchandise is:

a. $555,000.

b. $345,000.

c. $351,000.

d. $495,000.

Value City Furniture Corporation had 100,000 shares of common stock outstanding on January 1. An additional 50,000 shares were issued on July 1, and 25,000 shares were reacquired on September 1. What was the weighted-average number of shares outstanding during the year?

a. 140,000

b. 116,667

c. 125,000

d. 118,750

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