All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Hire a Tutor
AI Study Help New

Search
Sign In
Register

study help
business
accounting

Questions and Answers of Accounting

Douglas Corporation had 120,000 ordinary shares outstanding on January 1, 2010. On May 1, 2010, Douglas issued 60,000 ordinary shares. On July 1, Douglas purchased 10,000 treasury shares, which were
Tomba Corporation had 300,000 ordinary shares outstanding on January 1, 2010. On May 1, Tomba issued 30,000 ordinary shares. (a) Compute the weighted-average number of shares outstanding if the
Rockland Corporation earned net income of R300,000 in 2010 and had 100,000 ordinary shares outstanding throughout the year. Also outstanding all year was R800,000 of 10% bonds, which are convertible
DiCenta Corporation reported net income of $270,000 in 2010 and had 50,000 ordinary shares outstanding throughout the year. Also outstanding all year were 5,000 shares of cumulative preference
Bedard Corporation reported net income of $300,000 in 2010 and had 200,000 ordinary shares outstanding throughout the year. Also outstanding all year were 45,000 options to purchase ordinary shares
The 2010 income statement of Wasmeier Corporation showed net income of €480,000 and a loss from discontinued operations of €120,000. Wasmeier had 100,000 shares of ordinary shares outstanding all
Ferraro, Inc. established a share-appreciation rights (SAR) program on January 1, 2010, which entitles executives to receive cash at the date of exercise for the difference between the market price
On January 1, 2011, Cai Company issued a 10% convertible bond at par, with a face value of ¥100,000, maturing on January 1, 2021. The bond is convertible into ordinary shares of Cai at a conversion
On January 1, 2011, Lin Company issued a convertible bond with a par value of $50,000 in the market for $60,000. The bonds are convertible into 6,000 ordinary shares of $1 per share par value. The
Schuss Inc. issued €3,000,000 of 10%, 10-year convertible bonds on April 1, 2010, at 98. The bonds were dated April 1, 2010, with interest payable April 1 and October 1. Bond discount is amortized
Gabel Company has bonds payable outstanding with a carrying value of $406,000. When issued, Gabel recorded $3,500 of conversion equity. Each $1,000 bond is convertible into 20 shares of preference
For each of the unrelated transactions described below, present the entry(ies) required to record each transaction.1. Coyle Corp. issued €10,000,000 par value 10% convertible bonds at 99. If the
Sun Inc. has decided to raise additional capital by issuing HK$175,000 face value of bonds with a coupon rate of 10%. In discussions with investment bankers, it was determined that to help the sale
On September 1, 2010, Lin Company sold at 104 (plus accrued interest) 30,000 of its 8%, 10-year, ¥10,000 face value, non-convertible bonds with detachable share warrants. Each bond carried two
On May 1, 2010, Barkley Company issued 3,000 €1,000 bonds at 102. Each bond was issued with one detachable share warrant. The fair value of the bonds on May 1, 2010, was
On November 1, 2009, Olympic Company adopted a share-option plan that granted options to key executives to purchase 40,000 shares of the company’s $10 par value ordinary shares. The options were
On January 1, 2010, Magilla Inc. granted share options to officers and key employees for the purchase of 20,000 of the company’s €10 par ordinary shares at €25 per share. The options were
On January 1, 2009, Scooby Corporation granted 10,000 options to key executives. Each option allows the executive to purchase one share of Scooby’s $5 par value ordinary shares at a price of $20
Derrick Company issues 4,000 restricted shares to its CFO, Dane Yaping, on January 1, 2010. The shares have a fair value of $120,000 on this date. The service period related to these restricted
Lopez Company issues 10,000 shares of restricted shares to its CFO, Juan Carlos, on January 1, 2010. The shares have a fair value of €500,000 on this date. The service period related to the
Portillo Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,000,000 $10 par ordinary shares. At no time has Portillo issued any potentially dilutive securities.
On January 1, 2010, Chang Corp. had 480,000 ordinary shares outstanding. During 2010, it had the following transactions that affected the ordinary share account.February
Ott Company had 210,000 ordinary shares outstanding on December 31, 2010. During the year 2011, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2011,
Huang Company presented the following data (¥000).Net income ................................................................¥2,200,000Preference shares: 50,000 shares outstanding,¥100 par, 8%
On January 1, 2010, Bailey Industries had shares outstanding as follows.6% cumulative preference shares, €100 par value, issued andoutstanding 10,000 shares
In 2010, Buraka Enterprises issued, at par, 75 $1,000, 8% bonds, each convertible into 100 ordinary shares. The liability component of convertible bonds was $950 per bond, based on a market rate of
Werth Corporation earned $260,000 during a period when it had an average of 100,000 ordinary shares outstanding. The ordinary shares sold at an average market price of $15 per share during the
On December 31, 2007, Flessel Company issues 120,000 share appreciation rights to its officers entitling them to receive cash for the difference between the market price of its shares and a
Derrick Company establishes a share-appreciation rights program that entitles its new president Dan Scott to receive cash for the difference between the market price of the shares and a
The equity section of Martino Inc. at the beginning of the current year appears below.Share capital—ordinary, €10 par value, authorized 1,000,000shares, 300,000 shares issued and outstanding
Berg Company adopted a share-option plan on November 30, 2009, that provided that 70,000 shares of $5 par value ordinary shares be designated as available for the granting of options to officers of
Two students are discussing the current chapter on dilutive securities and earnings per share. Here are some of the points raised in their discussion.1. Is there a difference between issuing
For various reasons a corporation may issue warrants to purchase its ordinary shares at specified prices that, depending on the circumstances, may be less than, equal to, or greater than the current
The following item appeared on the Internet concerning the requirement to expense share options. “Here We Go Again!” by Jack Ciesielski (2/21/2005, again On February 17, Congressman David Dreier
Brad Dolan, a shareholder of Rhode Corporation, has asked you, the firm’s accountant, to explain why his share warrants were not included in diluted EPS. In order to explain this situation, you
The financial statements of M&S are presented in Appendix 5B or can be accessed at the book’s companion website, www.wiley.com InstructionsRefer to M&S’s financial statements and the
Go to the book’s companion website and use information found there to answer the following questions related to Cadbury and Nestlé.Instructions(a) What employee share-option compensation plans are
On January 1, 2011, Garner issued 10-year $200,000 face value, 6% bonds at par. Each $1,000 bond is convertible into 30 shares of Garner $2, par value, ordinary shares. Interest on the bonds is paid
In this simulation, you are asked to address questions related to the accounting for share options and earnings per share computations. Prepare responses to all parts.ExplanationOn the basis of the
What is amortized cost? What is fair value?
If the bonds in question 6 are classified as trading and they have a fair value at December 31, 2010, of $3,604,000, prepare the journal entry (if any) at December 31, 2010, to record this
(a) Assuming no Securities Fair Value Adjustment account balance at the beginning of the year, prepare the adjusting entry at the end of the year if Laura Company’s trading bond investment has a
What is the fair value option? Briefly describe its application to debt investments.
Identify and explain the different types of classifications for equity investments.
Hayes Company purchased 10,000 ordinary shares of Kenyon Co., paying $26 per share plus $1,500 in broker fees. Hayes plans to actively trade this investment. Pre-pare the entry to record this
Hayes Company sold 10,000 shares of Kenyon Co. that it bought in question 14 for $27.50 per share, incurring $1,770 in brokerage commissions. The carrying value of the investment is $260,000. Prepare
Distinguish between the accounting treatment for non trading equity investments and trading equity investments.
When the equity method is applied, what amounts relate to the investment, and where will these amounts be reported in the financial statements?
Raleigh Corp. has an investment with a carrying value (equity method) on its books of £170,000 representing a 30% interest in Borg Company, which suffered a £620,000 loss this year. How should
Where on the asset side of the statement of financial position are amounts related to equity investments classified as trading and non-trading reported? Explain.
When is a debt investment considered impaired? Explain how to account for the impairment of a held-for-collection debt investment.
Briefly describe the unresolved issues related to fair value accounting.
Briefly describe some of the similarities and differences between U.S. GAAP and IFRS with respect to the accounting for investments.
Discuss how recent IFRS developments in the accounting for investments might affect convergence with U.S. GAAP.
In what situation will the unrealized holding gain or loss on a non-trading equity investment be reported in income?
Garfield Company made an investment in €80,000 of the 9%, 5-year bonds of Chester Corporation for €74,086, which provides an 11% return. Garfield plans to hold these bonds to collect contractual
Use the information from BE17-1, but assume Garfield plans to actively trade the bonds to profit from market interest rates changes. Prepare Garfield’s journal entries for(a) The purchase of the
Refer to the information in BE17-3. Assume that, to address a measurement mismatch, Carow elects the fair value option for this debt investment. Prepare the journal entry at year-end, assuming the
Cleveland Company has a non-trading equity investment portfolio valued at $4,000. Its cost was $3,300. If the Securities Fair Value Adjustment account has a debit balance of $200, prepare the journal
Hillsborough Co. has a held-for-collection investment in the bonds of Schuyler Corp. with a carrying (and fair) value of $70,000. Hillsborough determined that due to poor economic prospects for
Cameron Company has a portfolio of debt investments that it has managed as a trading investment. At December 31, 2010, Cameron had the following balances related to this portfolio: debt investments,
The following information relates to Archibold Co. for 2011: net income €672.638 million; unrealized holding loss of €20.380 million related to a non-trading equity investment during the year;
For the following investments, identify whether they are:1. Debt investments at amortized cost.2. Debt investments at fair value.3. Trading equity investments.4. Non-trading equity investments.Each
Refer to the information in E17-3 and assume that Roosevelt elected the fair value option for this held-for-collection investment.Instructions(a) Prepare any entries necessary at December 31, 2010,
Presented below is selected information related to the financial instruments of Dawson Company at December 31, 2010. This is Dawson Companyâ€™s first year of operations.Instructions(a) Dawson
Player Corporation makes an equity investment costing $73,000 and classifies it as non-trading. At December 31, the fair value of the investment is $67,000.InstructionsPrepare the adjusting entry to
At December 31, 2010, the equity investment portfolio for Wenger, Inc. is as follows.On January 20, 2011, Wenger, Inc. sold investment Afor $15,300. The sale proceeds are net of brokerage
Capriati Corporation made the following cash investments during 2010, which is the first year in which Capriati invested in securities.1. On January 15, purchased 9,000 ordinary shares of Gonzalez
Swanson Company has the following trading investment portfolio on December 31, 2010.All of the investments were purchased in 2010. In 2011, Swanson completed the following investment
Chen Inc. acquired 20% of the outstanding ordinary shares of Cho Corp. on December 31, 2010. The purchase price was ¥125,000,000 for 50,000 shares. Cho Corp. declared and paid an ¥80 per share cash
On January 1, 2010, Meredith Corporation purchased 25% of the ordinary shares of Pirates Company for £200,000. During the year, Pirates earned net income of £80,000 and paid dividends of
Cairo Corporation has government bonds classified as held-for-collection at December 31, 2010. These bonds have a par value of $800,000, an amortized cost of $800,000, and a fair value of $740,000.
Choi Golf Co. uses titanium in the production of its specialty drivers. Choi anticipates that it will need to purchase 200 ounces of titanium in October 2010, for clubs that will be shipped in the
Presented below is information taken from a bond investment amortization schedule with related fair values provided. These bonds are managed to profit from changes in market interest
Parnevik Company has the following investments in its investment portfolio on December 31, 2010 (all investments were purchased in 2010): (1) 3,000 ordinary shares of Anderson Co. which cost $58,500,
The following information relates to the debt investments of Wildcat Company.1. On February 1, the company purchased 10% bonds of Gibbons Co. having a par value of $300,000 at 100 plus accrued
Kennedy Company has the following portfolio of trading investments at December 31, 2010.On December 31, 2011, Kennedy€™s portfolio of equity investments consisted of the following
Castleman Holdings, Inc. had the following investment portfolio at January 1, 2010.During 2010, the following transactions took place.1. On March 1, Rogers Company paid a Â£2 per share dividend.2.
Fernandez Corp. invested its excess cash in equity investments during 2010. The business model for these investments is to profit from trading on price changes.Instructions(a) As of December 31,
On January 1, 2010, Acker Inc. had the following statement of financial position.The accumulated other comprehensive income related to unrealized holding gains on non-trading equity investments. The
Johnstone Co. purchased a put option on Ewing ordinary shares on July 7, 2010, for $240. The put option is for 200 shares, and the strike price is $70. (The market price of an ordinary share of
Warren Co. purchased a put option on Echo ordinary shares on January 7, 2010, for $360. The put option is for 400 shares, and the strike price is $85 (which equals the price of an Echo share on the
Suzuki Jewelry Co. uses gold in the manufacture of its products. Suzuki anticipates that it will need to purchase 500 ounces of gold in October 2010, for jewelry that will be shipped for the holiday
On November 3, 2010, Sprinkle Co. invested â‚¬200,000 in 4,000 shares of the ordinary shares of Pratt Co. Sprinkle classified this investment as non-trading equity. Sprinkle Co. is considering
Lexington Co. has the following equity investments on December 31, 2010 (its first year of operations).During 2011 Summerset Company shares were sold for $9,200, the difference between the $9,200 and
Presented below are three unrelated situations involving equity investments.Situation 1A debt investment portfolio, whose fair value is currently less than cost, is classified as trading but is to be
The IASB issued accounting guidance to clarify accounting methods and procedures with respect to debt and equity investments. An important part of the statement concerns the distinction between
On July 1, 2011, Fontaine Company purchased for cash 40% of the outstanding ordinary shares of Knoblett Company. Both Fontaine Company and Knoblett Company have a December 31 year-end. Knoblett
On July 1, 2010, Selig Company purchased for cash 40% of the outstanding ordinary shares of Spoor Corporation. Both Selig and Spoor have a December 31 year-end. Spoor Corporation, whose shares are
Addison Manufacturing holds a large portfolio of debt and equity investments. The fair value of the portfolio is greater than its original cost, even though some investments have decreased in value.
The financial statements of M&S are presented in Appendix 5B or can be accessed at the book’s companion website, www.wiley.com InstructionsRefer to M&S’s financial statements and the
Go to the book’s companion website and use information found there to answer the following questions related to Cadbury and Nestlé.Instructions(a) Based on the information contained in these
Union Planters is a bank holding company (that is, a corporation that owns banks). Union Planters manages $32 billion in assets, the largest of which is its loan portfolio of $19 billion. In addition
Instar Company has several investments in other companies. The following information regarding these investments is available at December 31, 2010.1. Instar holds bonds issued by Dorsel Corp. The
What are two accounting methods available to a seller that is exposed to continued risks of ownership through return of product?
What are the revenue recognition criteria that should be used to record service contracts?
Indicate how service revenue should be recognized in the following situations: (a) Specified number of similar acts,(b) Specified number of defined but not identical acts,(c) Unspecified number of
Adani plc sells goods to Geo Company for £11,000 on January 2, 2010, with payment due in 12 months. The fair value of the goods at the date of sale is £10,000. Prepare the journal entry to record
Linde Company is a retailer that offers layaway sales to its customers. Assume that Linde sells ¥100,000 of merchandise to Penrod Company on March 1, 2010, and Penrod chooses to use the layaway
Telephone Sellers plc sells prepaid telephone cards to customers. Telephone Sellers then pays the telecommunications company, TeleExpress, for the actual use of its telephone lines. Assume that

Showing 36400 - 36500 of 107832

First
358
359
360
361
362
363
364
365
366
367
368
369
370
371
372
Last

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Secure Payment

Download Our App

© 2024 SolutionInn. All Rights Reserved