Practice Review. Stockholders Equity Chapter

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Practice Review. Stockholders Equity Chapter"

Transcription

1 Practice Review Stockholders Equity Chapter

2 Use the following information to answer questions 1-3. When Sample Corporation was formed on January 1, the corporate charter provided for 50,000 shares of $20 par value stock. The following transactions were among those engaged in by the corporation during the first month of operation. What are the following entries? 1. The corporation issued 200 shares to its lawyer in full payment of the $5,000 bill for drawing up the articles of incorporation. 2. The company issued 8,000 shares of stock at a price of $25 per share. 3. The company issued 7,000 shares in exchange for equipment that had a fair market value of $160,000.

3 Use the following information to answer questions 4-5. Sample Corporation has 60,000 shares of $10 par value common stock outstanding. What are the following entries? 4. On March 17 declared a 10% stock dividend to stockholders of record March 20. The market value of the stock was $13 on March On March 30 distributed the stock dividend.

4 6. What type of account is Stock dividends distributable? 7. What type of account is Cash dividends payable? 8. On May 1 Sample Corporation had 100,000 shares of $100 par value common stock outstanding with a market value of $160 per share. On May 2, Sample Corporation announced a 4 for 1 stock split. After the split, what were the par value, market value, and number of shares outstanding? What entry was made on May 2?

5 Use the following information to answer questions On January 1, Sample Corporation had 50,000 shares of $10 par value common stock issued and outstanding. All 50,000 shares had been issued in a prior period for $15 per share. On February 1, Sample Corporation purchased 2,000 shares of its own stock for $18 per share. On March 2 Sample Corporation sold 1,000 shares of this stock for $20 per share. On April 1 it sold 500 shares of this stock for $15 per share. On May 1 Sample Corporation retired the remaining shares. 9. What is the entry on February 1? 10. What is the entry on March 2? 11. What is the entry on April 1? 12. What is the entry on May 1?

6 13. Calculate the number of shares outstanding if: 80,000 shares are authorized; 30,000 shares are unissued; and 5,000 shares are in the treasury. 14. When a cash dividend is declared, three different dates are usually involved. Assume a $5,000 cash dividend. List the three dates and the journal entries made on them.

7 15. On December 31, Sample Corporation reported the following balances on its balance sheet. Prepare the Stockholders Equity section of the balance sheet with all proper disclosures. Cash $22,000; Treasury stock ($8 per share, at cost) ($16,000); Retained Earnings $130,000; Common stock, $5 par (authorized 100,000 shares, issued? shares of which? shares are held as treasury stock) $400,000; Paid in Capital in excess of par $?; and Total Contributed Capital $540,000.

8 16. Which of the following is not true about a 30% stock dividend? a. Retained earnings decreases. b. Contributed capital increases. c. Par value per share remains the same. d. The market value of the stock is needed to record the stock dividend. 17. At the beginning of the year, Sample Corporation had 30,000 shares of $10 par value common stock issued and outstanding. During January the corporation declared and distributed a 10 percent stock dividend. The market value of the stock was $24 throughout the month of January. As a result of this stock dividend, total stockholders equity should increase (decrease) by a. 0 b. $30,000 c. $42,000 d. ($72,000)

9 18. On June 1 Sample Corporation had 200,000 shares of $4 par value common stock outstanding with a market value of $160 per share. On June 2 the corporation declared a 4 for 1 stock split. After the split, what were the par value, market value, and number of shares outstanding?

10 19. Sample Corporation has 60,000 shares of $10 par value common stock outstanding. On March 17 a 10% stock dividend was declared to stockholders of record on March 20, and to be distributed on March 30. The market value of the stock on March 17 was $13 per share. a. What is the entry on March 17? b. What is the entry on March 20? c. What is the entry on March 30?

11 20. According to generally accepted accounting principles, treasury stock should be recorded at: a. par or stated value b. cost c. original issue cost d. net realizable value 21. On the balance sheet, treasury stock owned by the company is classified properly as a. current assets b. investments c. a note to the financial statements d. contra-stockholders equity

12 22. Compute the missing numbers from the following information: Par value per common share $10 Common stock account balance $150,000 Number of shares authorized 20,000 shares Number of shares issued and outstanding shares Paid in Capital in excess of Par balance $ Retained Earnings account balance $80,000 Total Contributed Capital $ Total Stockholders Equity $300,000

13 23. Comprehensive Stockholders' Equity Transactions and Financial Ratios Sample Corporation was chartered in the state of Massachusetts. The company was authorized to issue 10,000 shares of $100 par value, 6 percent preferred stock and 50,000 shares of no-par common stock. The common stock has a $2 stated value. The stock-related transactions for the quarter ended October 31, 2010, were as follows: Required Record transactions for the quarter ended October 31, 2010, in T accounts. Aug. 3 Issued 10,000 shares of common stock at $22 per share. 15 Issued 8,000 shares of common stock for land. Asking price for the land was $100,000. Common stock's market value was $12 per share. 22 Issued 5,000 shares of preferred stock for $500,000. Oct. 4 Issued 5,000 shares of common stock for $60, Purchased 2,500 shares of common stock for the treasury for $6, Declared a quarterly cash dividend on the outstanding preferred stock and $.10 per share on common stock outstanding, payable on October 31 to stockholders of record on October Date of record for cash dividends. 31 Paid cash dividends.

14 23. Comprehensive Stockholders' Equity Transactions and Financial Ratios 2. Prepare the stockholders' equity section of the balance sheet as of October 31, Net income for the quarter was $23,000.

15 24. Treasury Stock: Record the treasury stock transactions in T accounts. Sample Corporation had the following treasury stock transactions during 2011: 1. Purchased 80,000 shares of its $1 par value common stock on the market for $2.50 per share. 2. Purchased 16,000 shares of its $1 par value common stock on the market for $2.80 per share. 3. Sold 44,000 shares purchased in a for $131, Sold the other 36,000 shares purchased in a for $72, Sold 6,000 of the remaining shares of treasury stock for $1.60 per share. 6. Retired all the remaining shares of treasury stock. All shares originally were issued at $1.50 per share. What is the reasoning behind treating the purchase of treasury stock as a reduction in stockholders' equity as opposed to treating it as an investment asset?

Corporations: Organization, Stock Transactions, and Dividends

Corporations: Organization, Stock Transactions, and Dividends C H A P T E R 13 Corporations: Organization, Stock Transactions, and Dividends Financial Accounting 14e Warren Reeve Duchac human/istock/360/getty Images Advantages and Disadvantages of the Corporate Form

More information

ANSWERS TO MULTIPLE CHOICE. 1. c) 2. d) 3. b) 4. a) 5. c) 6. b) 7. c) 8. c) 9. d) 10. a) E11 3.

ANSWERS TO MULTIPLE CHOICE. 1. c) 2. d) 3. b) 4. a) 5. c) 6. b) 7. c) 8. c) 9. d) 10. a) E11 3. 4. Common stock the usual or normal stock of the corporation. It is the voting stock and generally ranks after the preferred stock for dividends and assets distributed upon dissolution. Often it is called

More information

Corporations: Organization, Stock Transactions, and Dividends

Corporations: Organization, Stock Transactions, and Dividends C H A P T E R 11 Corporations: Organization, Stock Transactions, and Dividends Corporate Financial Accounting 13e Warren Reeve Duchac human/istock/360/getty Images Characteristics of a Corporation (slide

More information

COMPONENTS OF CAPITAL

COMPONENTS OF CAPITAL ILLUSTRATION 15-1 COMPONENTS OF CAPITAL COMPONENTS OF CAPITAL Stockholders' Equity (Total) LESS Treasury Stock (Cost Method) Contributed Capital Retained Earnings Preferred Stock Common Stock LESS Unappropriated

More information

Vol. 1, Chapter 4 Corporate Accounting

Vol. 1, Chapter 4 Corporate Accounting Vol. 1, Chapter 4 Corporate Accounting Problem 1 The high and low prices for McDonald s stock over the last 52 weeks were $35.91 and $27.36 respectively. The annual cash dividend yield is 1.9% of that

More information

Authorization and Issuance. Of capital stock

Authorization and Issuance. Of capital stock Authorization and Issuance Of capital stock Authorized Shares The maximum number of shares Of capital stock that can be sold to the public Authorized Shares Issued Shares are authorized shares of stock

More information

2-8. Identify whether each of the following items increases or decreases cash flow:

2-8. Identify whether each of the following items increases or decreases cash flow: Problems 2-8. Identify whether each of the following items increases or decreases cash flow: Increase in accounts receivable Increase in notes payable Depreciation expense Increase in investments Decrease

More information

SOLUTIONS. Learning Goal 30

SOLUTIONS. Learning Goal 30 S1 Learning Goal 30 Multiple Choice 1. c A corporation wants to reissue treasury stock at a higher price than it paid. In this way, a greater amount of capital can be obtained than was returned to the

More information

CHAPTER 11 Reporting and Analyzing Stockholders Equity

CHAPTER 11 Reporting and Analyzing Stockholders Equity CHAPTER 11 Reporting and Analyzing Stockholders Equity Major Characteristics of a Corporation Ownership A publicly held corporation is regularly traded on a national securities market and may have thousands

More information

When Tandy (RadioShack) Corporation announced a 2:1 stock split, the company had 97 million shares outstanding, trading at $100 per share.

When Tandy (RadioShack) Corporation announced a 2:1 stock split, the company had 97 million shares outstanding, trading at $100 per share. BE12-2 When Tandy (RadioShack) Corporation announced a 2:1 stock split, the company had 97 million shares outstanding, trading at $1 per share. (a) Estimate the number of shares outstanding and market

More information

Issuance of Common Stock example

Issuance of Common Stock example Issuance of Common Stock example Let's assume that a company wants to raise $10,000 through the issuance of common stock. At the time the stock is sold the market price is $50 per share. the company will,

More information

CHAPTER 15. Stockholders Equity ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Concepts for Analysis. Brief Exercises Exercises Problems

CHAPTER 15. Stockholders Equity ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Concepts for Analysis. Brief Exercises Exercises Problems CHAPTER 15 Stockholders Equity ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis *1. Stockholders rights; corporate form. 1, 2, 3, 4,

More information

Stock Dividends. Stock Dividends and Stock Splits. Amount of Stock Dividend. Created in 2006 By Michael Worthington Elizabeth City State University

Stock Dividends. Stock Dividends and Stock Splits. Amount of Stock Dividend. Created in 2006 By Michael Worthington Elizabeth City State University Stock Dividends and Stock Splits Created in 2006 By Michael Worthington Elizabeth City State University Stock Dividends Stock Dividends consist of additional shares of issued to current stockholders (instead

More information

Summer 2002 Accounting 2110 Practice Exam 4. Student IDNO PLEASE ENTER YOUR NAME AND IDNO ON THE SCAN TRON SHEET!

Summer 2002 Accounting 2110 Practice Exam 4. Student IDNO PLEASE ENTER YOUR NAME AND IDNO ON THE SCAN TRON SHEET! Summer 2002 Accounting 2110 Practice Exam 4 Student IDNO PLEASE ENTER YOUR NAME AND IDNO ON THE SCAN TRON SHEET! 1. Which of the following most likely would be classified as a current liability? a. Dividends

More information

A. Retained Earnings the basic source of retained earnings is income from operations.

A. Retained Earnings the basic source of retained earnings is income from operations. Chapter 16 Stockholders Equity: Retained Earnings LECTURE OUTLINE The material in this chapter is straight-forward and can be covered in two class periods. Students are often not familiar with dividend

More information

Income Measurement and Profitability Analysis

Income Measurement and Profitability Analysis PROFITABILITY ANALYSIS The following financial statements for Spencer Company will be used to demonstrate the calculation of the various ratios in profitability analysis. Spencer Company Comparative Balance

More information

CHAPTER 11 Solutions STOCKHOLDERS EQUITY

CHAPTER 11 Solutions STOCKHOLDERS EQUITY CHAPTER 11 Solutions STOCKHOLDERS EQUITY Chapter 11, SE 1. 1. c 4. 2. a 5. 3. b 6. d e a Chapter 11, SE 2. 1. Advantage 4. 2. Disadvantage 5. 3. Advantage 6. Advantage Disadvantage Advantage Chapter 11,

More information

TOPIC LEARNING OBJECTIVE

TOPIC LEARNING OBJECTIVE Topic Mapping 1 Transaction Analysis Understand the effect of various types of transactions on the accounting equation, accounting journal and accounting ledger. Concepts and Skills Accounting Equation

More information

6. Depreciation is a process of a. asset devaluation. b. cost accumulation. c. cost allocation. d. asset valuation.

6. Depreciation is a process of a. asset devaluation. b. cost accumulation. c. cost allocation. d. asset valuation. 1. A company purchased land for $72,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start.

More information

CH 23 STATEMENT OF CASH FLOWS SELF-STUDY QUESTIONS

CH 23 STATEMENT OF CASH FLOWS SELF-STUDY QUESTIONS C H 2 3, P a g e 1 CH 23 STATEMENT OF CASH FLOWS SELF-STUDY QUESTIONS (note from Dr. N: I have deleted questions for you to omit, but did not renumber the remaining questions) 1. The primary purpose of

More information

Statement of Cash Flows

Statement of Cash Flows PREPARING THE STATEMENT OF CASH FLOWS: THE INDIRECT METHOD OF REPORTING CASH FLOWS FROM OPERATING ACTIVITIES The work sheet method described in the text book is not the recommended approach. We will provide

More information

07:58. Think about it STOCKHOLDERS EQUITY. Stockholders Equity Components. Chapter 15. Three Buckets:

07:58. Think about it STOCKHOLDERS EQUITY. Stockholders Equity Components. Chapter 15. Three Buckets: STOCKHOLDERS EQUITY Chapter 15 Think about it Who owns a Company? The Stockholders Who controls a Company? The Stockholders Who runs the Company? Executive Management (called C level, as in C EO, CFO,

More information

GBA 521 Midterm Review Dr. Markelevich

GBA 521 Midterm Review Dr. Markelevich GBA 521 Midterm Review Dr. Markelevich Multiple Choice (3 points for each question) Identify the letter of the choice that best completes the statement or answers the question. Wynn Corp. Wynn Corp. reported

More information

1. The primary forms of business organization are the proprietorship, the partnership, and the corporation.

1. The primary forms of business organization are the proprietorship, the partnership, and the corporation. Chapter 15 Stockholders Equity: Contributed Capital LECTURE OUTLINE This material in this chapter is straight-forward and can be covered in one or two class sessions. Treasury stock transactions under

More information

The Statement of Cash Flows Direct Method

The Statement of Cash Flows Direct Method 23 The Statement of Cash Flows Direct Method DEMONSTRATION PROBLEM The financial statements of Bolero Corporation follow. Copyright Houghton Mifflin Company. All rights reserved. 1 Bolero Corporation Income

More information

Chapter 18 Shareholders Equity

Chapter 18 Shareholders Equity PAID-IN CAPITAL Fundamental Share Rights One of the most important features of the corporate form of business is the issuance of capital stock in exchange for capital contributions. Each share of capital

More information

ILLUSTRATION 17-1 CONVERTIBLE SECURITIES CONVERTIBLE BONDS

ILLUSTRATION 17-1 CONVERTIBLE SECURITIES CONVERTIBLE BONDS ILLUSTRATION 17-1 CONVERTIBLE SECURITIES CONVERTIBLE BONDS Issued ten, 8%, $1,000 par value bonds at 110. Each bond is convertible into 100 shares of $5 par value common. Entry at date of issue: Cash 11,000

More information

Long Island University C.W. Post GBA 521. Final Exam - review

Long Island University C.W. Post GBA 521. Final Exam - review Long Island University C.W. Post GBA 521 Name: _ (Last name) (First name) Date: _ Final Exam - review Multiple Choice Following are 14 multiple choice questions, worth 3 points each. Clearly identify the

More information

Chapter 4. Completing the accounting cycle

Chapter 4. Completing the accounting cycle 1 Chapter 4 Completing the accounting cycle 2 Learning objectives 1. Prepare an accounting worksheet and describe its purpose 2. Prepare a classified balance sheet and explain the major headings 3. Explain

More information

Principles of Financial Accounting ACC-101-TE. TECEP Test Description

Principles of Financial Accounting ACC-101-TE. TECEP Test Description Principles of Financial Accounting ACC-101-TE TECEP Test Description This TECEP is an introduction to the field of financial accounting. It covers the accounting cycle, merchandising concerns, and financial

More information

Consolidated Interim Earnings Report

Consolidated Interim Earnings Report Consolidated Interim Earnings Report For the Six Months Ended 30th September, 2003 23th Octorber, 2003 Hitachi Capital Corporation These financial statements were prepared for the interim earnings release

More information

Consolidated Balance Sheets

Consolidated Balance Sheets Consolidated Balance Sheets March 31 2015 2014 2015 Assets: Current assets Cash and cash equivalents 726,888 604,571 $ 6,057,400 Marketable securities 19,033 16,635 158,608 Notes and accounts receivable:

More information

E15-1. Understanding Shareholders Equity

E15-1. Understanding Shareholders Equity E15-1. Understanding Shareholders Equity Preferred stock is a class of capital stock that pays dividends at a specified rate and that has preference over common stock in the payment of dividends and the

More information

HIGH VELOCITY ENTERPRISES, INC.. CONSOLIDATED BALANCE SHEET As of JUNE 30, 2014. Assets

HIGH VELOCITY ENTERPRISES, INC.. CONSOLIDATED BALANCE SHEET As of JUNE 30, 2014. Assets CONSOLIDATED BALANCE SHEET As of Assets Current assets Cash $ 32,736 Loan Receivables - Related Parties 15,285 Total current assets 48,021 Investment 55,000 Total assets $ 103,021 Current liabilities Liabilities

More information

Shareholder=s Equity

Shareholder=s Equity Shareholder=s Equity Objectives

More information

E2-2: Identifying Financing, Investing and Operating Transactions?

E2-2: Identifying Financing, Investing and Operating Transactions? E2-2: Identifying Financing, Investing and Operating Transactions? Listed below are eight transactions. In each case, identify whether the transaction is an example of financing, investing or operating

More information

Norfolk Southern Corporation and Subsidiaries Consolidated Statements of Income (Unaudited)

Norfolk Southern Corporation and Subsidiaries Consolidated Statements of Income (Unaudited) Consolidated Statements of Income Fourth Quarter Years ended December 31, 2015 2014 2015 2014 ($ in millions, except per share amounts) Railway operating revenues Coal $ 433 $ 543 $ 1,823 $ 2,382 General

More information

ACC 255 FINAL EXAM REVIEW PACKET (NEW MATERIAL)

ACC 255 FINAL EXAM REVIEW PACKET (NEW MATERIAL) Page 1 ACC 255 FINAL EXAM REVIEW PACKET (NEW MATERIAL) Complete these sample exam problems/objective questions and check your answers with the solutions at the end of the review file and identify where

More information

1. A set of procedures for controlling cash payments by preparing and approving vouchers before payments are made is known as a voucher system.

1. A set of procedures for controlling cash payments by preparing and approving vouchers before payments are made is known as a voucher system. Accounting II True/False Indicate whether the sentence or statement is true or false. 1. A set of procedures for controlling cash payments by preparing and approving vouchers before payments are made is

More information

ILLUSTRATION 5-1 BALANCE SHEET CLASSIFICATIONS

ILLUSTRATION 5-1 BALANCE SHEET CLASSIFICATIONS ILLUSTRATION 5-1 BALANCE SHEET CLASSIFICATIONS MAJOR BALANCE SHEET CLASSIFICATIONS ASSETS = LIABILITIES + OWNERS' EQUITY Current Assets Long-Term Investments Current Liabilities Long-Term Debt Capital

More information

BRIEF EXERCISES. BE10 6 Match each of the following preferred stock features with its description. 1. Convertible 2. Redeemable 3.

BRIEF EXERCISES. BE10 6 Match each of the following preferred stock features with its description. 1. Convertible 2. Redeemable 3. BRIEF EXERCISES Cite advantages and disadvantages of a corporation (LO1) Understand an S corporation ( LO1 ) Record issuance of common stock ( LO2 ) Record issuance of common stock ( LO2 ) Record issuance

More information

Territorial Bancorp Inc. Announces Second Quarter 2015 Results

Territorial Bancorp Inc. Announces Second Quarter 2015 Results PRESS RELEASE FOR IMMEDIATE RELEASE Contact: Walter Ida (808) 946-1400 Territorial Bancorp Inc. Announces Second Quarter 2015 Results Earnings per share for the three months ended June 30, 2015 rose to

More information

Stockholders' equity, reported on the balance sheet, consists of which of the following accounts? (Check all that apply.)

Stockholders' equity, reported on the balance sheet, consists of which of the following accounts? (Check all that apply.) Stockholders' equity, reported on the balance sheet, consists of which of the following accounts? (Check all that apply.) ~ Your answer is correct Read about 11\is Corporate Liabilities Dividends When

More information

Summary of Financial Results for the Three Months Ended June 30, 2015

Summary of Financial Results for the Three Months Ended June 30, 2015 Summary of Financial Results for the Three Months Ended June 30, 2015 (Non-Consolidated) August 7, 2015 Company name: JAPAN POST BANK Co., Ltd. Website: http://www.jp-bank.japanpost.jp/

More information

Chapter 18 Shareholders Equity

Chapter 18 Shareholders Equity RETAINED EARNINGS The balance in retained earnings represents an accumulation of the following common items from the inception date of the business: Add: net income Subtract: net losses Subtract: dividends.

More information

Vol. 1, Chapter 7 The Statement of Cash Flows

Vol. 1, Chapter 7 The Statement of Cash Flows Vol. 1, Chapter 7 The Statement of Cash Flows Problem 1: Solution Transaction # Identification 1 Operating 2 Investing 3 Noncash transaction 4 Financing 5 Noncash transaction 6 Operating 7 Investing 8

More information

Statement of Cash Flows

Statement of Cash Flows THE CONTENT AND VALUE OF THE STATEMENT OF CASH FLOWS The cash flow statement reconciles beginning and ending cash by presenting the cash receipts and cash disbursements of an enterprise for an accounting

More information

Study Guide - Final Exam Accounting I

Study Guide - Final Exam Accounting I Study Guide - Final Exam Accounting I True/False Indicate whether the sentence or statement is true or false. 1. Entries in a sales journal affect account balances in both the accounts receivable ledger

More information

Territorial Bancorp Inc. Announces 2015 Results

Territorial Bancorp Inc. Announces 2015 Results PRESS RELEASE FOR IMMEDIATE RELEASE Contact: Walter Ida (808) 946-1400 Territorial Bancorp Inc. Announces 2015 Results Fully diluted earnings per share for the three months ended December 31, 2015 rose

More information

中 原 大 學 95 學 年 度 轉 學 考 招 生 入 學 考 試

中 原 大 學 95 學 年 度 轉 學 考 招 生 入 學 考 試 中 原 大 學 95 學 年 度 轉 學 考 招 生 入 學 考 試 7 月 12 日 14:00~15:30 商 學 群 組 二 年 級 科 目 : 會 計 學 ( 共 七 頁 第 一 頁 ) 可 使 用 計 算 機, 惟 僅 限 不 具 可 程 式 及 多 重 記 憶 者 一 MULTIPLE CHOICE QUESTIONS: (50%) 誠 實 是 我 們 珍 視 的 美 德, 我 們 喜

More information

Illinois Corporate Franchise Tax. Department of Revenue 3-21-2014 House Joint Committee of Revenue and Finance and State Government

Illinois Corporate Franchise Tax. Department of Revenue 3-21-2014 House Joint Committee of Revenue and Finance and State Government Illinois Corporate Franchise Tax Department of Revenue 3-21-2014 House Joint Committee of Revenue and Finance and State Government Objectives Provide committee members with some basic accounting framework

More information

COMPONENTS OF THE STATEMENT OF CASH FLOWS

COMPONENTS OF THE STATEMENT OF CASH FLOWS ILLUSTRATION 24-1 OPERATING, INVESTING, AND FINANCING ACTIVITIES COMPONENTS OF THE STATEMENT OF CASH FLOWS CASH FLOWS FROM OPERATING ACTIVITIES + Sales and Service Revenue Received Cost of Sales Paid Selling

More information

a. $ 65,000. b. $ 80,000. c. $130,000. d. $145,000.

a. $ 65,000. b. $ 80,000. c. $130,000. d. $145,000. 注 意 1. 本 試 題 卷 共 50 題, 總 分 100 分 第 01-15 題, 每 題 1.75 分, 合 計 26.25 分 ; 第 16-35 題, 每 題 2 分, 合 計 40 分 ; 第 36-50 題, 每 題 2.25 分, 合 計 33.75 答 錯 不 倒 扣 2. 請 將 答 案 按 試 題 題 號, 依 序 填 入 答 案 卡 1.FastForward had cash

More information

EMERSON AND SUBSIDIARIES CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)

EMERSON AND SUBSIDIARIES CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) TABLE 1 Quarter Ended March 31, Percent Change Net Sales $ 5,854 $ 5,919 1% Costs and expenses: Cost of sales 3,548 3,583

More information

3,000 3,000 2,910 2,910 3,000 3,000 2,940 2,940

3,000 3,000 2,910 2,910 3,000 3,000 2,940 2,940 1. David Company uses the gross method to record its credit purchases, and it uses the periodic inventory system. On July 21, 20D, the company purchased goods that had an invoice price of $ with terms

More information

Kansas City 4Life Insurance Company

Kansas City 4Life Insurance Company Kansas City 4Life Insurance Company 2012 Fourth Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office

More information

U. S. Securities and Exchange Commission Washington, D. C. 20549 FORM 10-QSB

U. S. Securities and Exchange Commission Washington, D. C. 20549 FORM 10-QSB U. S. Securities and Exchange Commission Washington, D. C. 20549 FORM 10-QSB [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September

More information

Earnings Per Share. a. Illustrations

Earnings Per Share. a. Illustrations Earnings Per Share A. Simple Capital Structure--if a corporation's capital structure consists only of common stock or includes no potentially dilutive convertible securities, options, warrants, or other

More information

Cash is King. cash flow is less likely to be affected

Cash is King. cash flow is less likely to be affected Reading 27: Understanding Cash Flow Statements Relevance of Cash Flow The primary purpose of the statement of cash flows (SCF) is to provide: Info about a firm s cash receipts & cash payments during an

More information

1-3Q of FY2014 87.43 78.77 1-3Q of FY2013 74.47 51.74

1-3Q of FY2014 87.43 78.77 1-3Q of FY2013 74.47 51.74 January 30, 2015 Resona Holdings, Inc. Consolidated Financial Results for the Third Quarter of Fiscal Year 2014 (Nine months ended December 31, 2014/Unaudited) Code number: 8308 Stock

More information

ACC 120 PRINCIPLES OF FINANCIAL ACCOUNTING

ACC 120 PRINCIPLES OF FINANCIAL ACCOUNTING ACC 120 PRINCIPLES OF FINANCIAL ACCOUNTING COURSE DESCRIPTION: Prerequisites ENG 090, and RED 090 or DRE 098; MAT 070 or DMA 010, 020, 030, 040, or satisfactory score on placement test Corequisites: None

More information

PANHANDLE OIL AND GAS INC. REPORTS SECOND QUARTER AND SIX MONTHS 2009 RESULTS. Second Quarter Production Increases 38%

PANHANDLE OIL AND GAS INC. REPORTS SECOND QUARTER AND SIX MONTHS 2009 RESULTS. Second Quarter Production Increases 38% FOR IMMEDIATE RELEASE PLEASE CONTACT: Michael C. Coffman 405.948.1560 Website: www.panhandleoilandgas.com May 8, 2009 PANHANDLE OIL AND GAS INC. REPORTS SECOND QUARTER AND SIX MONTHS 2009 RESULTS Second

More information

Financial Formulas. 5/2000 Chapter 3 Financial Formulas i

Financial Formulas. 5/2000 Chapter 3 Financial Formulas i Financial Formulas 3 Financial Formulas i In this chapter 1 Formulas Used in Financial Calculations 1 Statements of Changes in Financial Position (Total $) 1 Cash Flow ($ millions) 1 Statements of Changes

More information

CHAPTER 11 CORPORATIONS: ORGANIZATION, STOCK TRANSACTIONS, AND DIVIDENDS

CHAPTER 11 CORPORATIONS: ORGANIZATION, STOCK TRANSACTIONS, AND DIVIDENDS 1. No. Common stock with a higher par is not necessarily a better investment than common stock with a lower par because par is an amount assigned to the shares. 2. The broker is not correct. Corporations

More information

Authored for ENMU Tutoring Services. By Jessica Huff

Authored for ENMU Tutoring Services. By Jessica Huff By Jessica Huff The standard accounting equation is Assets=Liabilities + Stockholders Equity. Depending on which item someone is looking at will determine what the normal balance is. The normal balance

More information

Atthapol Charoenkietkrai ACG2021 Section 2

Atthapol Charoenkietkrai ACG2021 Section 2 Atthapol Charoenkietkrai ACG2021 Section 2 Amazon has been in a good position for the last few years and still on a rise. The assets have increased, and the debt has decreased. The company has exponentially

More information

國 立 體 育 學 院 九 十 六 學 年 度 學 士 班 轉 學 考 試 試 題

國 立 體 育 學 院 九 十 六 學 年 度 學 士 班 轉 學 考 試 試 題 國 立 體 育 學 院 九 十 六 學 年 度 學 士 班 轉 學 考 試 試 題 會 計 學 ( 本 試 題 共 8 頁 ) 注 意 :1 答 案 一 律 寫 在 答 案 卷 上, 否 則 不 予 計 分 2 請 核 對 試 卷 准 考 證 號 碼 與 座 位 號 碼 三 者 是 否 相 符 3 試 卷 彌 封 處 不 得 汚 損 破 壞 4 行 動 電 話 或 呼 叫 器 等 通 訊 器 材 不

More information

FACULTEIT DER ECONOMISCHE WETENSCHAPPEN EN BEDRIJFSKUNDE Afdeling ACCOUNTING DECEMBER 23, 2005

FACULTEIT DER ECONOMISCHE WETENSCHAPPEN EN BEDRIJFSKUNDE Afdeling ACCOUNTING DECEMBER 23, 2005 FACULTEIT DER ECONOMISCHE WETENSCHAPPEN EN BEDRIJFSKUNDE Afdeling ACCOUNTING (FAB) DECEMBER 23, 2005 Read this first before you start the exam. The exam contains 9 pages and 5 assignments. The duration

More information

Quarterly Financial Results for the Fiscal Year Ending September 30, 2016 (J-GAAP)

Quarterly Financial Results for the Fiscal Year Ending September 30, 2016 (J-GAAP) February 10, 2016 Quarterly Financial Results for the Fiscal Year Ending September 30, 2016 (J-GAAP) (1st Quarter / October 1, 2015 December 31, 2015) Company Name Hosokawa Micron Corporation Stock Exchange

More information

MASTER BUDGET - EXAMPLE

MASTER BUDGET - EXAMPLE MASTER BUDGET - EXAMPLE Sales IN UNITS for the previous two months (of last quarter), as well as the sales forecast for next quarter are as follows: Sales Budget Units May sales (ACTUAL) 20 June sales

More information

Kansas City 4Life Insurance Company

Kansas City 4Life Insurance Company Kansas City 4Life Insurance Company 2010 Fourth Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office

More information

REVIEW FOR FINAL EXAM, ACCT-2302 (SAC)

REVIEW FOR FINAL EXAM, ACCT-2302 (SAC) REVIEW FOR FINAL EXAM, ACCT-2302 (SAC) CHAPTER 13 1. Corporate Organization: a. Application for incorporation. b. State grants Charter or Articles of Incorporation. c. By-laws: rules and procedures of

More information

Liabilities and Equity Exercises III

Liabilities and Equity Exercises III Larry M. Walther; Christopher J. Skousen Download free books at Larry M. Walther & Christopher J. Skousen Liabilities and Equity Exercises III 2 2011 Larry M. Walther, Christopher J. Skousen & Ventus Publishing

More information

ICAP GROUP S.A. FINANCIAL RATIOS EXPLANATION

ICAP GROUP S.A. FINANCIAL RATIOS EXPLANATION ICAP GROUP S.A. FINANCIAL RATIOS EXPLANATION OCTOBER 2006 Table of Contents 1. INTRODUCTION... 3 2. FINANCIAL RATIOS FOR COMPANIES (INDUSTRY - COMMERCE - SERVICES) 4 2.1 Profitability Ratios...4 2.2 Viability

More information

SUMMARY OF CONSOLIDATED BUSINESS RESULTS for the nine months ended December 31, 2012

SUMMARY OF CONSOLIDATED BUSINESS RESULTS for the nine months ended December 31, 2012 SUMMARY OF CONSOLIDATED BUSINESS RESULTS for the nine months ended December 31, 2012 February 8, 2013 ARRK Corporation 2-2-9 Minami Hommachi, Chuo-ku, Osaka, 541-0054, JAPAN 1. Consolidated financial results

More information

PROFESSOR S NAME ACC 255 FALL 2011 COVER SHEET FOR COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8)

PROFESSOR S NAME ACC 255 FALL 2011 COVER SHEET FOR COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8) COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8) Page 137 NAME ANSWER KEY PROFESSOR S NAME SECTION SCORE ACC 255 FALL 2011 COVER SHEET FOR COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8) INSTRUCTIONS: COMPLETE ALL

More information

EXERCISES. Does not normally require adjustment. Normally requires adjustment (AE).

EXERCISES. Does not normally require adjustment. Normally requires adjustment (AE). EXERCISES Ex. 3 1 1. Prepaid expense 2. Accrued revenue 3. Unearned revenue 4. Accrued expense 5. Unearned revenue 6. Prepaid expense 7. Accrued expense 8. Accrued expense Ex. 3 2 Account Accounts Receivable...

More information

Accounting Skills Assessment Practice Exam Page 1 of 10

Accounting Skills Assessment Practice Exam Page 1 of 10 NAU ACCOUNTING SKILLS ASSESSMENT PRACTICE EXAM & KEY 1. A company received cash and issued common stock. What was the effect on the accounting equation? Assets Liabilities Stockholders Equity A. + NE +

More information

TRANSACTIONS ANALYSIS EXAMPLE. Maxwell Partners Medical Diagnostic Services report the following information for 2011, their first year of operations:

TRANSACTIONS ANALYSIS EXAMPLE. Maxwell Partners Medical Diagnostic Services report the following information for 2011, their first year of operations: TRANSACTIONS ANALYSIS EXAMPLE Maxwell Partners Medical Diagnostic Services report the following information for 2011, their first year of operations: 1. Billings to clients for services provided: $350,000

More information

國 立 體 育 大 學 100 學 年 度 學 士 班 轉 學 考 試 試 題 休 閒 產 業 經 營 學 系 二 年 級 會 計 學 ( 本 試 題 共 8 頁 )

國 立 體 育 大 學 100 學 年 度 學 士 班 轉 學 考 試 試 題 休 閒 產 業 經 營 學 系 二 年 級 會 計 學 ( 本 試 題 共 8 頁 ) 國 立 體 育 大 學 100 學 年 度 學 士 班 轉 學 考 試 試 題 休 閒 產 業 經 營 學 系 二 年 級 會 計 學 ( 本 試 題 共 8 頁 ) 注 意 : 1. 答 案 一 律 寫 在 答 案 卷 上, 否 則 不 予 計 分 2. 請 核 對 試 卷 准 考 證 號 碼 與 座 位 號 碼 三 者 是 否 相 符 3. 試 卷 彌 封 處 不 得 汚 損 破 壞 4. 行

More information

02.Murray Company debited Prepaid Insurance for $960 on July 1, 1998 for a one-year

02.Murray Company debited Prepaid Insurance for $960 on July 1, 1998 for a one-year 八 十 八 學 年 度 會 計 學 考 古 題 題 目 難 易 的 順 序 ( 難 易 ) 為 : I III II I Multiple Choice (74%) 01.The purchase of office equipment for $15,000 cash a. is a cash outflow from financing activities. b. is a cash outflow

More information

1. Operating, Investment and Financial Cash Flows

1. Operating, Investment and Financial Cash Flows 1. Operating, Investment and Financial Cash Flows Solutions Problem 1 During 2005, Myears Oil Co. had gross sales of $1 000,000, cost of goods sold of $400,000, and general and selling expenses of $300,000.

More information

Introduction to Accounting 2 Modul 6 Chapter 14. CORPORATIONS: Organization and Capital Stock Transactions

Introduction to Accounting 2 Modul 6 Chapter 14. CORPORATIONS: Organization and Capital Stock Transactions Introduction to Accounting 2 Modul 6 Chapter 14 CORPORATIONS: Organization and Capital Stock Transactions After studying this chapter, you should be able to: 1. Identify the major characteristics of a

More information

Vol. 1, Chapter 5 The Balance Sheet

Vol. 1, Chapter 5 The Balance Sheet Vol. 1, Chapter 5 The Balance Sheet Problem 1: Solution Assets Construction in progress Cash advance to affiliated co. Petty cash Trade receivables Building Cash surrender value of life insurance Notes

More information

The Income Statement and Statement of Cash Flows

The Income Statement and Statement of Cash Flows THE STATEMENT OF CASH FLOWS Purpose of the Statement of Cash Flows The purpose of the statement of cash flows is to identify the sources and uses of cash and the change in cash from the beginning to the

More information

Statement of Cash Flow

Statement of Cash Flow Management Accounting 337 Statement of Cash Flow Cash is obviously an important asset to all, both individually and in business. A shortage or lack of cash may mean an inability to purchase needed inventory

More information

> DO IT! Chapter 13. Classification of Cash Flows. Cash from Operating Activities D-1. Solution. Action Plan

> DO IT! Chapter 13. Classification of Cash Flows. Cash from Operating Activities D-1. Solution. Action Plan Chapter 13 > DO IT! Classification of Cash Flows Identify the three types of activities used to report all cash inflows and outflows. Report as operating activities the cash effects of transactions that

More information

Kansas City 2Life Insurance Company

Kansas City 2Life Insurance Company Kansas City 2Life Insurance Company 2012 Second Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office

More information

Quiz Questions for Chapter 9

Quiz Questions for Chapter 9 Quiz Questions for Chapter 9 1. A truck was purchased for $25,000. It has a six-year life and a $4,000 salvage value. Using straight-line depreciation, what is the asset s carrying value (book value) after

More information

Closing Announcement of First Quarter of the Fiscal Year Ending March 31, 2016 [Japanese Standards] (Consolidated)

Closing Announcement of First Quarter of the Fiscal Year Ending March 31, 2016 [Japanese Standards] (Consolidated) Closing Announcement of First Quarter of the Fiscal Year Ending March 31, 2016 [Japanese Standards] (Consolidated) August 4, 2015 Name of Listed Company: Arisawa Mfg. Co., Ltd. Listed on the Tokyo Stock

More information

250 outof250points(100%)

250 outof250points(100%) 250 outof250points(100%) 1. sward: poinrs July 15 August 15 August 31 Declared a cash dividend payable to common stockholders of $165,000. Date of record is August 15 for the cash dividend declared on

More information

SANYO TRADING COMPANY LIMITED. Financial Statements

SANYO TRADING COMPANY LIMITED. Financial Statements Financial Statements Year Ended September 30, 2014 English translation from original Japanese-language documents Balance Sheets As of September 30, 2014 ASSETS Current Assets Cash and deposits US$ 18,509,007

More information

The McGraw-Hill Companies, Inc., 2013 Solutions Manual, Vol.2, Chapter 19 19 1

The McGraw-Hill Companies, Inc., 2013 Solutions Manual, Vol.2, Chapter 19 19 1 AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools, departments, and faculty may approach assessment and its documentation

More information

Total shares at the end of ten years is 100*(1+5%) 10 =162.9.

Total shares at the end of ten years is 100*(1+5%) 10 =162.9. FCS5510 Sample Homework Problems Unit04 CHAPTER 8 STOCK PROBLEMS 1. An investor buys 100 shares if a $40 stock that pays a annual cash dividend of $2 a share (a 5% dividend yield) and signs up for the

More information

ADVANCED ACCOUNTING (02) REGIONAL 2006

ADVANCED ACCOUNTING (02) REGIONAL 2006 13 Pages Contestant Number Time Rank ADVANCED ACCOUNTING (02) REGIONAL 2006 Objective Questions (30 @ 2 points each) Job 1 Income Statement Job 2 Statement of Retained Earnings Job 3 Balance Sheet (60

More information

Course pack Accounting 202 Chapter 13: Cash Flow Statement

Course pack Accounting 202 Chapter 13: Cash Flow Statement Course pack Accounting 202 Chapter 13: Cash Flow Statement Value Chapter Included 13 Purpose of Cash Flow Understand Operating, Investing, Financing activities Prepare a Cash Flow Statement indirect only

More information

Equity Financing. Overview

Equity Financing. Overview 13 Equity Financing Overview After discussing debt financing in Chapter 12, we now turn to the other kind of financing available to businesses equity financing. Like debt financing, equity financing, once

More information

Kansas City 4Life Insurance Company

Kansas City 4Life Insurance Company Kansas City 4Life Insurance Company 2009 Fourth Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office

More information

SampleTest3-910Ll.12. Name: Class: Date: ID: A. Multiple Choice Identifi the choice that best completes the statement or answers the question.

SampleTest3-910Ll.12. Name: Class: Date: ID: A. Multiple Choice Identifi the choice that best completes the statement or answers the question. Class: Date: SampleTest3-910Ll.12 Multiple Choice Identifi the choice that best completes the statement or answers the question. 1. On June 8, Alton Co. issued an $80,000, 6%o, 120-day note payable on

More information