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During 2017, Crimson Inc. purchased $2,775,000 of inventory. The cost of goods sold for 2017 was $2,635,938

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During 2017, Crimson Inc. purchased $2,775,000 of inventory. The cost of goods sold for 2017 was

$2,635,938 and the ending inventory at December 31, 2017 was $544,688. What was the inventory turnover for 2017?

 
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In an employer-sponsored defined benefit pension plan, the interest cost included in the pension expense represents:

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In an employer-sponsored defined benefit pension plan, the interest cost included in

the pension expense represents:

(A)  The effective discount rate times the unamortized balance of prior service costs.

(B)  The increase in the projected benefit obligation due to the passage of time.

(C)  The increase in the fair value of plan assets due to the passage of time.

(D) The difference between the actual and expected returns on plan assets.

 
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Craig received a $25,000 distribution from Yellow Corporation that the corporation identified as $15,000 dividend and $10,000 return of capital.

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Craig received a $25,000 distribution from Yellow Corporation that the corporation identified as $15,000 dividend

and $10,000 return of capital. What effect does this distribution have on Craig’s taxable income if his basis in the stock of Yellow is $8,000?

a.    Increase of $25,000

b. Increase of $17,000

c. Increase of $15,000

d. Increase of $10,000

 
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Murphy Inc. preferred stock currently pays a dividend of 17 per year and has a yield of 0.19. What is the current price of Murphy’s preferred stock?

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Murphy Inc. preferred stock currently pays a dividend of 17 per year and has a yield of 0.19. What is the current

price of Murphy’s preferred stock?

 
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