250 outof250points(100%)
|
|
|
- Kathleen Nash
- 10 years ago
- Views:
Transcription
1 250 outof250points(100%)
2 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 July 15. Paid the dividend declared on July 15. Prepare journal entries to record the above transactions for Emerson Corporation. (If no journal entry is required, select " No journal entry required" in the first account field.) Date Jul 15 Aug 15 General Journal Retained earnings Common dividend payable No journal entry required Debit Credit./ 165,000././ 165,000././ Aug Common dividend payable Gash./ 165,000././ 165,000./
3 2. sward: poinrs Foxburo Company expects to pay a $2.34 per share cash dividend this year on its common stock. The current market value of Foxburo stock is $32.50 per share. Compute the expected dividend yield on the Foxburo stock. Dividend Yield Choose Numerator: Choose Denominator: Annual cash dividends per share./ Market value per share./ $ 2.34./ $ / Dividend Yield Dividend Yield 7.2%
4 g.vard: 3. points a. Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common stock assuming the shares sell for $5 cash per share. Event General Journal Debit Credit 1 Cash./ 375,000./ Common Stock, $5 Par Value./ 375,000./ b. Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common stock assuming the shares sell for $6 cash per share. Event General Journal Debit Credit 1 Cash 450,000./ Common stock, $5 par value./ 375,000./ Paid-in capital in excess of par value, common stock./ 75,000./
5 4. 8'1Nard: The stockholders' e qu i ~/ section of Montel Company's balance sheet follows. The preferred stock's call price is $40. Preferred stock- 5% cumulative, $10 par value, 20,000 shares authorized, issued and outstanding $ Common stock- $5 par value, 200,000 shares authorized, 150,000 shares issued and outstanding Retained earnings 200, , ,000 Total stockholders' e q u i ~/ $ 1,850,000 Determine the book value per share of the common stock. Book Value Per Coomon Share Choose Numerator: Choose Denominator: Book Value Per Conmon Share Stockholders' equity applicable to common shares./ I ; Number of common shares outstanding./ = I Book Value Per Common Share +----> - - $ 1,050,000./ I I$ 150,000./ _= ~~$ 7.00
6 5. award: The equi ~/ section of Cyril Corporation's balance sheet shows the following. Preferred stock-{)% cumulative, $25 par value, $30 call price, 10,000 shares issued and outstanding Common stock- $1 O par value, 80,000 shares issued and outstanding Retained earnings Total stockholders' e qui~/ $ 250, , ,000 $ 1,585,000 Determine the book value per share of the preferred and common stock under two separate situations. 1. No preferred dividends are in arrears. Book Value Per Preferred Share Choose Numerator: I Choose Denominator: Stockholders' equi~/ applicable to preferred shares.i Number of preferred shares outstanding.i +---> $ 300,000J 10,000J Choose Numerator: Stockholders' equity applicable to common shares.i $ 1,285,000.,.I --'----'~- 2. Three years of preferred dividends are in arrears. Book Value Per Conmon Share Choose Denominator: Number of common shares outstanding.i 80,000.I Book Value Per Preferred Share = Sook value per preferred share... ~~... ~~~~~~~~~~~ = $ Book Value Per Conmon Share = Sook value per common s11are = $ Book Value Per Preferred ~hare Choose Numerator: I Choose Denominator: Stockholders' equity applicable to preferred shares.i I Number of preferred shares outstanding.i' - $ 345,000.I I 10,000.I Book Value Per Conmon Share Choose Numerator: I ~ = Choose Denominator: Stockholders' equi~/ applicable to common shares.ii I $ ol 1,240,000.I I Number of common shares outstanding.ii 80,000.,.I ol = Book Value Per Preferred Share = -k- Book value per preferred Share =.$ = Book Value Per Conmon Share = I Sook value per common share I - $ 15.50
7 sward: 6 poifits 1. A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash. Transaction General Journal Debit Credit 1 Cash./ 35,-000./ Common stock. $5 par value./ +--~~~ 20,000./ Paid-in capital in excess of par value, Common stock./ 15,000./
8 award: 7. poirits.. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $ 1 per share stated value. Transaction GeneHI Journal Debit Credit 1 Jorganization expenses./.,. 4-0-,o_o_o_.;, - Common stock, $1 stated value.,/ 2,000.,/ Paid-in capital in excess of stated value, common stock.,/ 38,000.,/
9 sward: "'J)OintS' A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has no stated value. Transaction General Journal Debit Credit 1 torganization expenses./ 40,000./ Common stock, no-par value./ 40,000./
10 sward: polnrs' A corporation issued 1,000 shares of $50 par v alue preferred stock for $60,000 cash. Transaction General Journal Debit Credit 1 Cash./ 60,000./ --=~_, Preferred stock, $50 par v alue./ 50,000./ -~~~ Paid-in capital in excess of par value, preferred stock./ 10,000./
11 10. award: O company 1 O company 2 O company 3 company 4 Company Earnings per Share $ Market Value per Share $ Compute the price-earnings ratio for each of these four separate companies. Price-Earai!!lls B!ltio Company Choose Numerator: Divided Choose Denominator: Market value per share J I Earnings per share J 1 $ I $ ; yl.; I 750.I yl 50.00yl Price-Earn s Ratio """".'"" ""~ = = 14.7 = 9.6 = 12.5 = 5.0 Which stock might an analyst likely investigate as being potentially undeivalued by the market?
12 11. award: points Stockholders' equity of Ernst Company consists of 80,000 shares of $5 par value, 8% cumulative preferred stock and 250,000 shares of $1 par value common stock. Both classes of stock have been outstanding since the company's inception. Ernst did not dee lare any dividends in the prior year, but it now declares and pays a $110,000 cash dividend at the current year-end. Determine the amount distributed to each class of stockholders for this two-year-old company. Calculation of Preferred Dividend: Par Value per Preferred Share $ 5 00_.I Dividend per Number of Preferred Dividend Rate Preferred Preferred Dividend for Share Shares two years 8%_.I' $ ,000_.I $ 64,000_.I Total cash dividend To preferred shareholders To common shareholders $ 110,000_.I 64,000_.I 46,ooo 1
13 l'l'nard: 12 10outof pomts Of the following statements, which are true for the corporate form of organization? (Select all that apply.) 13 ownership rights cannot be easily transferre<!. 13 owners have llnlimited liability for oorporate debts. 13 Capttal is more easily accumulated than with most other forms of organization. 13 Corporate income tllat is distributed to shareholders is usual~/ taxed tvtice. 13 It is a separate le-gal entity. 13 It has a limited life. a 13 owners are not agents of the corporation.
14 award: outof... '' j'ioiiits.. Sudoku Company issues 7,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $45,000 and the building at $85,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. Event General Journal Debit Credit 1 Land./ 45,000./ Building./ 85,000./ Common stock, $7 par valu e./ 49,000./ Paid-in capital in excess of par value, common stock./ 81,000./
15 14 award:.... points..... Ecker Company reports $2,700,000 of net income for 2013 and declares $388,020 of cash dividends on its preferred stock for At the end of 2013, the company had 678,000 weighted-average shares of common stock. 1. What amount of net income is available to common stockhol ders for 2013? Net income $ 2,700,000./ rto preferred stockholders 388,020./ To common stockholders.. 1. J$ 2_,3_1_1_,9_8_o_, 2. What is the company's basic EPS for 2013?!!!!sic earni!!lls l!!!f share Choose Numerator: I Choose Denominator: Net income available to common stockholders./j I Weighted-average outstanding shares.i $ 2,311,980./ I 678,000./ Basic earnings per share = Basic earnings per share = $ 3.41
16 P< I Question # 15 (of25) I no«~ poii'its Prepare the issuer's journal entry for each separate transaction. (a) On March 1, Atlantic Co. issues 42,500 shares of $4 par value common stock for $297,500 cash. Date General Journal Mar. 1 Gash.I Common stock, $4 par value.i Paid-in captial in excess of par value, common stock./ Debit 297,500.I Credit 170,000.I 127,500.I (b) On April 1, OP Co. issues no-par value common stock for $70,000 cash. Date General Journal Debit Credit Apr. 1 Cash "" 70,000.I Common stock, no-par value "" 70,000.I -~-- (c) On April 6, MPG issues 2,000 shares of $25 par value common stock for $45,000 of inventory, $145,000 ofmachiner/, and accepts a $94,000 note payable. - Date General Journal Debit Credit Apr. 6 Inventory Machinery "" "" "" I 145,000.I Note payable./ 94,000.I Common stock, $25 par value Paid-in captial in excess of par value, common stock - 50,000.I 46,000.I
17 16. 8\llo'ard: poiiits a. Prepare the journal entry to record Autumn Company's issuance of 63,000 shares of no-par value common stock assuming the shares sell for $29 cash per share. Event.. General Journal - 1 Gash Common stock, no-par value Debit./ 1,827,000./[./ Credit 1,827,000./ - b. Prepare the journal entr/ to record Autumn Company's issuance of 63,000 shares of no-par value common stock assuming tl1e shares are exchanged for land valued at $1,827,000. Event II General Journal Debit Credit 1 Land./ 1,827,000./j <---~--... Common stock, no-par value 1,827,000./
18 17. sward: points a. Prepare the journal entry to record Tamasin e Company's issuance of 5,000 shares of $100 par value 7% cumulative preferred stock for $102 cash per share. Transaction General Journal Debit Credit 1 Cash./ 510,000./1 Preferred stock, $100 par value./ 500,000./ Paid-in capital in excess of par value, preferred stock./ 10,000./ b. Assuming the facts in part 1, if Tamasine declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.) Par Value per Preferred Dividend Rate --c:ha::.r,, $ / 7.0%./ $ 7.00./
19 18 award:... poiilfs.... On May 3, Zirbal Corporation purchased 4,000 shares of its own stock for $36,000 cash. On November 4, Zirbal reissued 850 shares of this treasur1 stock for $8,500. Prepare t11e May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. Date General Journal Debit Credit May 03 Treasury stock./ 36,000./ Cash./ 36,000./ Nov. 4 Cash./ 8,500./ Treasur; stock./ 7,650./ Paid in capital, treasur; stock./ 850./
20 19. sward:... points.... Company Annual Cash Dividend per Share $ Market Value per Share $ Compute the dividend yield for each of these four separate companies. Dividend Yield ll!r I or Annual cash dividends per share./ I Market value per share./ 1 $ / l $ 2 $ / I $ 3 $ 3.96./ I $ 4 $ 0.96./ I $ / / / / = Dividend yield = 7.3% = 10.5% = 5.5 ro = 1.2% Which company's stock would probably not be classified as an income stock? O company 1 O company 2 O company 3 company 4
21 20. eward: pomts The following information is available for Amos Company for the year ended December 31, a. Balance of retained earnings, December 31, 2012, prior to discovery of error, $1,375,000. b. Cash dividends declared and paid during 2013, $43,000. c It neglected to record 2011 depreciation expense of $55,500, which is net of $4,500 in income taxes. d. The company earned $126,000 in 2013 net income. Prepare a 2013 statement of retained earnings for Amos Company. (Amounts to be deducted should be indicated with a minus sign.) AMOS COMPANY Statement of Retained Earnings For Year Ended December 31, 2013 Retained earnings, December 31, 2012./ $ Prior period adjustment 1,375,000./ Depreciation expense error in 2011 (net of tax)./ 55,500./, '- -'-, Adjusted retained earnings, December 31, 2012./ 1,319,500 Add: Net income./ 126,000./ Less: Dividends./ 43,000./ Retained earnings, December 31, 2013./=$====1=,1=50= =50=0=: 1
22 21. award: Epic Company earned net income of $900,000 this year. The number of common shares outstanding during the entire year was 400,000, and preferred shareholders received a $20,000 cash dividend. Compute Epic Company's basic earnings per share. Basic Earninas Per Share Choose Numerator: Choose Denominator: Basic EPS Net income $./ 900,000./ Preferred dividends./ $ 20,000.,il I I = Weighted average common shares outstanding./ <---<-- 400,000.,il = $ Basic EPS 2.20 per share
23 22. ""'8ld: a. Prepare the journal entry to record Jevonte Company's issuance of 36,000 shares of its common stock assuming the shares have a $2 par value and sell for $18 cash per share. Event General Journal Debit Credit 1 Gash./ 648,000./ Common stock, $2 par value./ 72,000./ Paid-in captial in excess of par value, common stock./ 576,000./ b. Prepare the journal entry to record Jevonte Company's issuance of 36,000 shares of its common stock assuming the shares have a $2 stated value and sell for $18 cash per share. Event General Journal 1 Cash ---- Common stock, $2 stated value Paid-in captial in excess of stated value, common stock Debit Credit./ 648,000././ 72,000././ 576,000./
24 23 award: l>oiiits Compute Topp Company's price-earnings ra tio if its common stock has a market value of $20.54 per share and its EPS is $3.95. Price Earninos Ratio Choose Nwnerator: Market value per share $ ,il I Choose Denominator: Earnings per share $.I = 3.95.,il = ---- Price Earnings Ratio Price Earnings Ratio 5.2
25 24. award: points The stockholders' equity section of Jun Comp any's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10% stock dividend. The stock's per share market value on April 2 is $20 (prior to the dividend). Common stock- $5 par value, 375,000 shares authorized, 200,000 shares issued and outstanding $ 1,000,000 Paid-in capital in excess of par value, common stock 600,000 Retained earnings 833,000 Total stockholders' e qui~/ $2,433,000 Prepare the stockholders' equity section immediately after the stock dividend. Jun Company Stockholders' Equity April 2 (after stock div idend) Common stock./ $ 1.100,000./ Paid-in capital in excess of par value, common stock./ 900,000./ ; Total paid-in capital 2,000,000 Retained earnings./ 433,000./ ~ Total stockholders' equity $ 2,433,
26 award: 25 10outof.... i>oii1ts..... Murray Company reports net income of $770,000 for the year. It has no preferred stock, and its weighted-average common shares outstanding is 280,000 shares. Compute its basic earnings per share. Basic Ea mings Per Share --- Choose Numerator: I Choose Denominator: Net income.i Preferred dividends.i I Weighted-average common shares outstanding.i = $ 770,000../ $ 0../ 280,000../ = $ ~~~-~~- ~~~-~~- -~-- Basic EPS Basic EPS I per share
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
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
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
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
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
Practice Review. Stockholders Equity Chapter
Practice Review Stockholders Equity Chapter 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
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
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
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
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
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,
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:
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.
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
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
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
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
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,
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
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.
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
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
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
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
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
140 SU 3: Profitability Analysis and Analytical Issues
140 SU 3: Profitability Analysis and Analytical Issues QUESTIONS 3.1 Profitability Ratios Questions 1 and 2 are based on the following information. The financial statements for Dividendosaurus, Inc., for
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,
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
Intermediate Accounting II, ACCT 3322 Solutions Review Questions, Chapters 19 and 20
Intermediate Accounting II, ACCT 3322 Solutions Review Questions, Chapters 19 and 20 1. On December 31, 2002, Spencer Company had 500,000 shares of common stock issued and outstanding. Spencer Company
Dilutive Securities. Convertible Bonds and Convertible Preferred Stock. Chapter 18 Dilutive Securities and EPS. Learning Objectives
Chapter 18 Dilutive Securities and EPS Learning Objectives Understand and account for dilutive securities Understand how to account for stock options Understand the difference between a simple and complex
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
Financial Statement and Cash Flow Analysis
Chapter 2 Financial Statement and Cash Flow Analysis Answers to Concept Review Questions 1. What role do the FASB and SEC play with regard to GAAP? The FASB is a nongovernmental, professional standards
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
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
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
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
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
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
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
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
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
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
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
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
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
AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions)
CONSOLIDATED STATEMENTS OF CASH FLOWS CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD $ 8,084 $ 5,269 $ 3,777 OPERATING ACTIVITIES: Net income (loss) 274 (39) 631 Adjustments to reconcile net income (loss)
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
CHAPTER 16. Dilutive Securities and Earnings Per Share ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Concepts for Analysis
CHAPTER 16 Dilutive Securities and Earnings Per Share ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis 1. Convertible debt and preferred
Reporting and Analyzing Cash Flows QUESTIONS
Chapter 12 Reporting and Analyzing Cash Flows QUESTIONS 1. The purpose of the cash flow statement is to report all major cash receipts (inflows) and cash payments (outflows) during a period. It helps users
180 outof180points (100%)
180 outof180points (100%) Simon Company's year-end balance sheets follow. At December 31 2014 2013 2012 Assets Cash $ 31,600 $ 35,500 $ 37,400 Accounts receivable, net 88,500 61,000 51,000 Merchandise
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
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
... points. Date General Journal Debit Credit
1. award:... points On September 11, 20 12, Home Store sells a mower for $500 with a one-year warran~/ that covers parts. Warran~/ expense is estimated at 8% of sales. On July 24, 20 13, the mower is brought
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 +
A Simple Model. The Accounting Equation
An introduction to the accounting equation in the context of building a financial model. This series introduces the financial statements in the context of a financial model. NOTES TO ACCOMPANY VIDEOS These
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
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
Chapter 6 Statement of Cash Flows
Chapter 6 Statement of Cash Flows The Statement of Cash Flows describes the cash inflows and outflows for the firm based upon three categories of activities. Operating Activities: Generally include transactions
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,
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
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
Earnings Per Share (EPS)
Earnings Per Share (EPS) A publicly-held company is required to present earnings per share (EPS) for Basic and Dilutive EPS on the face of the income statement for (ASC 260): Income from continuing operations
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
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
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
NORWEGIAN CRUISE LINE HOLDINGS LTD. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in thousands, except share and per share data)
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in thousands, except share and per share data) Revenue Passenger ticket $ 583,923 $ 490,322 $ 1,400,470 $ 1,257,871 Onboard and other 213,962 184,089 569,479
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
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
Chapter 8: account receivable
Chapter 8: account receivable Three accounting issues associated with accounts receivable are: 1. Recognizing accounts receivable 2. Valuing accounts receivable 3. Disposing of accounts receivable Recognizing
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
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
Consolidated Balance Sheets March 31, 2001 and 2000
Financial Statements SEIKAGAKU CORPORATION AND CONSOLIDATED SUBSIDIARIES Consolidated Balance Sheets March 31, 2001 and 2000 Assets Current assets: Cash and cash equivalents... Short-term investments (Note
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
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
CHAPTER 3 LONG-TERM FINANCIAL PLANNING AND GROWTH
CHAPTER 3 LONG-TERM FINANCIAL PLANNING AND GROWTH Answers to Concepts Review and Critical Thinking Questions 5. The sustainable growth rate is greater than 20 percent, because at a 20 percent growth rate
LEBANESE ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS MANAGERIAL ACCOUNTING
LEBANESE ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS MANAGERIAL ACCOUNTING JULY 2015 MULTIPLE CHOICE QUESTIONS (37.5%) Choose the correct answer 1. All of the following statements concerning standard costs
Gleim / Flesher CMA Review 15th Edition, 1st Printing Part 2 Updates Available December 2010
Page 1 of 3 Gleim / Flesher CMA Review 15th Edition, 1st Printing Part 2 Updates Available December 2010 NOTE: Text that should be deleted from the outline is displayed as struck through with a red background.
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
Learning Module 3 Journal Entries
Learning Module 3 Journal Entries The Accounting Equation Balance Sheet Income Statement = + + - Assets Liabilities Owners' Equity Revenue Expenses Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Recording journal
> 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
The Basics of Accounting ACCT 201
The Basics of Accounting ACCT 201 Content Accounting definition Accounting equation Accounting elements Asset, Liabilities, & Equity Transactions Accounts Receivable vs Accounts Payable Retained Earnings
Instructions Prepare the journal entries to record the transactions described above. Dec. 31 Received a cash dividend of $3 per share.
118 Chapter 16 Investments EXERCISES: SET B Journalize debt investment transactions and accrue interest. (SO 2) E16-1B Jan. Holtz Corporation had the following transactions pertaining to debt investments.
Financial Statement Preparation Webinar. Presented by Nick Chapman VEI Program Coordinator New York City
Financial Statement Preparation Webinar Presented by Nick Chapman VEI Program Coordinator New York City 122 Amsterdam Ave. New York, NY 10023 Phone: 212-769-2710 www.veinternational.org Objectives: Review
Chapter 4 Adjustments, Financial Statements, and the Quality of Earnings
Chapter 4 Adjustments, Financial Statements, and the Quality of Earnings ANSWERS TO QUESTIONS 1. Adjusting entries are made at the end of the accounting period to record all revenues and expenses that
Fundamentals Level Skills Module, Paper F9. Section A. Monetary value of return = $3 10 x 1 197 = $3 71 Current share price = $3 71 $0 21 = $3 50
Answers Fundamentals Level Skills Module, Paper F9 Financial Management December 2014 Answers Section A 1 A Monetary value of return = $3 10 x 1 197 = $3 71 Current share price = $3 71 $0 21 = $3 50 2
B Exercises 4-1. (d) Intangible assets. (i) Paid-in capital in excess of par.
B Exercises E4-1B (Balance Sheet Classifications) Presented below are a number of balance sheet accounts of Castillo Inc. (a) Trading Securities. (h) Warehouse in Process of Construction. (b) Work in Process.
RAPID REVIEW Chapter Content
RAPID REVIEW BASIC ACCOUNTING EQUATION (Chapter 2) INVENTORY (Chapters 5 and 6) Basic Equation Assets Owner s Equity Expanded Owner s Owner s Assets Equation = Liabilities Capital Drawing Revenues Debit
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
ACCOUNTING 105 CONCEPTS REVIEW
ACCOUNTING 105 CONCEPTS REVIEW A note from the tutors: This handout is designed to help you review important information as you study for your cumulative final exam. While it does cover many important
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
SMART TOUCH LEARNING, INC. Balance Sheet May 31, 2013 $ 4,800 2,600 30,500 600 2,000 $18,000 300 48,000 200 17,700 47,800
13 Corporations: Effects on Retained Earnings and the Income Statement Assets Current assets: Cash Accounts receivable Inventory Supplies Prepaid rent Total current assets Plant assets: Furniture Less:
Chapter 17: Financial Statement Analysis
FIN 301 Class Notes Chapter 17: Financial Statement Analysis INTRODUCTION Financial ratio: is a relationship between different accounting items that tells something about the firm s activities. Purpose
STATEMENT OF CASH FLOWS AND WORKING CAPITAL ANALYSIS
C H A P T E R 1 0 STATEMENT OF CASH FLOWS AND WORKING CAPITAL ANALYSIS I N T R O D U C T I O N Historically, profit-oriented businesses have used the accrual basis of accounting in which the income statement,
Financial Statement Consolidation
Financial Statement Consolidation We will consolidate the previously completed worksheets in this financial plan. In order to complete this section of the plan, you must have already completed all of the
ISS Governance Services Proxy Research. Company Financials Compustat Data Definitions
ISS Governance Services Proxy Research Company Financials Compustat Data Definitions June, 2008 TABLE OF CONTENTS Data Page Overview 3 Stock Snapshot 1. Closing Price 3 2. Common Shares Outstanding 3 3.
14. Calculating Total Cash Flows.
14. Calculating Total Cash Flows. Greene Co. shows the following information on its 2008 income statement: Sales = $138,000 Costs = $71,500 Other expenses = $4,100 Depreciation expense = $10,100 Interest
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