Quantum, Inc declared a 2 per share dividend on October 1. The date of record is October 20th,
the ex-dividend date is October 18th, and the payment date is October 31st. Mitchell owns a share
of stock on October 1.
Mitchell sells his share to Gene on October 18th, Gene sells the share to
Dimitri on October 20th, and Dimitri sells the share to Hank on October 30th. Who will receive the
dividend?
A) Gene B) Hank C) Mitchell D) Dimitri
Question 2
Matterhorn, Inc had the following sales for the past six months. Matterhorn collects its credit sales
30 in the month of sale, 60 one month after the sale, and 10 two months after the sale.
Cash Sales Credit Sales
January 50,000 50,000
February 70,000 110,000
March 55,000 95,000
April 78,000 130,000
May 80,000 105,000
June 75,000 148,000
What are Matterhorn's total cash receipts for the month of April?
A) 168,000 B) 208,000 C) 176,000 D) 98,000
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Identical twins share 100 percent of their segregating genes.
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An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ...