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

Century-Fox Corporation's employees are eligible for postretirement health care benefits after both being employed at the end of the year in which age 60 is attained and having worked 20 years. Jason
Stockton Labeling Company has a retiree health care plan. Employees become fully eligible for benefits after working for the company eight years. Stockton hired Misty Newburn on January 1, 2011. As
The information below pertains to the retiree health care plan of Thompson Technologies:Thompson began funding the plan in 2011 with a contribution of $127,000 to the benefit fund at the end of the
The Toys R Us, Inc., is a leader in the retail toy industry. The following is an excerpt from a disclosure note in the company's annual report for the fiscal year ended January 31, 2009:Required:1.
“I only get one shot at this?” you wonder aloud. Mrs. Montgomery, human resources manager at Covington State University, has just explained that newly hired assistant professors must choose
Noel Zoeller is the newly hired assistant controller of Kemp Industries, a regional supplier of hardwood derivative products. The company sponsors a defined benefit pension plan that covers its 420
LGD Consulting is a medium-sized provider of environmental engineering services. The corporation sponsors a noncontributory, defined benefit pension plan. Alan Barlow, a new employee and participant
The focus of this case is question 1 in the previous case. Your instructor will divide the class into two to six groups, depending on the size of the class. The mission of your group is to assess the
Refer to the financial statements and related disclosure notes of Dell Inc. located in the company's financial statements and related disclosure notes in Appendix B located at the back of the text.
You are in your third year as internal auditor with VXI International, manufacturer of parts and supplies for jet aircraft. VXI began a defined contribution pension plan three years ago. The plan is
All publicly traded domestic companies use EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system, to make the majority of their filings with the SEC. You can access EDGAR on the
Refer to the most recent financial statements and related disclosure notes of FedEx Corporation. The financial statements can be found at the company's website: www.fedex.com or via EDGAR at
Charles Rubin is a 30-year employee of General Motors. Charles was pleased with recent negotiations between his employer and the United Auto Workers. Among other favorable provisions of the new
While doing some online research concerning a possible investment you come across an article that mentions in passing that a representative of Morgan Stanley had indicated that a company's pension
The board of examiners of the American Institute of Certified Public Accountants (AICPA) is responsible for preparing the CPA examination. The boards of accountancy of all 50 states, the District of
Clearwater Paper Corporation manufactures paperboard, consumer tissue, and wood products. Refer to the 2008 financial statements and related disclosure notes of the company. The financial statements
British Airways, Plc. (BA), a U.K. company, prepares its financial statements according to International Financial Reporting Standards. BA's annual report for the year ended March 31, 2009, which
Identify and briefly describe the two primary sources of shareholders' equity.
Identify the three common forms of business organization and the primary difference between the ways they are accounted for.
Corporations offer the advantage of limited liability. Explain what is meant by that statement.
Distinguish between not-for-profit and for-profit corporations.
Distinguish between publicly held and privately (or closely) held corporations.
How does the Model Business Corporation Act affect the way corporations operate?
The owners of a corporation are its shareholders. If a corporation has only one class of shares, they typically are labeled common shares. Indicate the ownership rights held by common shareholders,
What is meant by a shareholder's preemptive right?
Terminology varies in the way companies differentiate among share types. But many corporations designate shares as common or preferred. What are the two special rights usually given to preferred
Most preferred shares are cumulative. Explain what this means.
The par value of shares historically indicated the real value of shares and all shares were issued at that price. The concept has changed with time. Describe the meaning of par value as it has
What is comprehensive income? How does comprehensive income differ from net income? Where do companies report it in a balance sheet?
Companies have a choice as to where in the financial statements to report comprehensive income. How does that choice differ between U.S. GAAP and IFRS?
The balance sheet reports the balances of shareholders' equity accounts. What additional information is provided by the statement of shareholders' equity?
At times, companies issue their shares for consideration other than cash. What is the measurement objective in those cases?
Companies occasionally sell more than one security for a single price. How is the issue price allocated among the separate securities?
The costs of legal, promotional, and accounting services necessary to effect the sale of shares are referred to as share issue costs. How are these costs recorded? Compare this approach to the way
When a corporation acquires its own shares, those shares assume the same status as authorized but unissued shares, as if they never had been issued. Explain how this is reflected in the accounting
Discuss the conceptual basis for accounting for a share buyback as treasury stock.
The prescribed accounting treatment for stock dividends implicitly assumes that shareholders are fooled by small stock dividends and benefit by the market value of their additional shares. Explain
Brandon Components declares a 2-for-1 stock split. What will be the effects of the split, and how should it be recorded?
What is a reverse stock split? What would be the effect of a reverse stock split on one million $1 par shares? On the accounting records?
Suppose you own 80 shares of IBM common stock when the company declares a 4% stock dividend. What will you receive as a result?
A quasi reorganization is sometimes employed by a firm undergoing financial difficulties, but with favorable future prospects. What are two objectives of this procedure? Briefly describe the
Schaeffer Corporation reports $50 million accumulated other comprehensive income in its balance sheet as a component of shareholders' equity. In a related disclosure note reporting comprehensive
Penne Pharmaceuticals sold 8 million shares of its $1 par common stock to provide funds for research and development. If the issue price is $12 per share, what is the journal entry to record the sale
Lewelling Company issued 100,000 shares of its $1 par common stock to the Michael Morgan law firm as compensation for 4,000 hours of legal services performed. Morgan's usual rate is $240 per hour. By
Hamilton Boats issued 175,000 shares of its no par common stock to Sudoku Motors in exchange for 1,000 four-stroke outboard motors that normally sell in quantity for $3,500 each. By what amount
The shareholders' equity of MLS Enterprises includes $200 million of no par common stock and $400 million of 6% cumulative preferred stock. The board of directors of MLS declared cash dividends of
Horton Industries' shareholders' equity included 100 million shares of $1 par common stock and a balance in paid-in capital—excess of par of $900 million. Assuming that Horton retires shares it
Agee Storage issued 35 million shares of its $1 par common stock at $16 per share several years ago. Last year, for the first time, Agee reacquired 1 million shares at $14 per share. Assuming that
The Jennings Group reacquired 2 million of its shares at $70 per share as treasury stock. Last year, for the first time, Jennings sold 1 million treasury shares at $71 per share. By what amount will
In previous years, Cox Transport reacquired 2 million treasury shares at $20 per share and, later, 1 million treasury shares at $26 per share. By what amount will Cox's paid-in capital—share
Refer to the situation described in BE 18-9. By what amount will Cox's paid-in capital—share repurchase increase if it determines the cost of treasury shares by the FIFO method?
Following is a recent Microsoft press release:REDMOND, Wash.—September 18, 2009— Microsoft Corp. today announced that its board of directors declared a quarterly dividend of $0.13 per share.
LaRoe Moving and Storage, a family-owned corporation, declared a property dividend of 1,000 shares of GE common stock that LaRoe had purchased in February for $37,000 as an investment. GE's
On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 60 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $25
Refer to the situation described in BE 18-13, but assume a 2-for-1 stock split instead of the 5% stock dividend. Prepare the journal entry to record the stock split if it is to be effected in the
Nestlé S.A., the largest food and beverage company in the world, prepares its financial statements according to International Financial Reporting Standards. Its financial statements include
The following is an excerpt from a disclosure note from the 2011 annual report of Kaufman Chemicals, Inc.Kaufman reports accumulated other comprehensive income in its balance sheet as a component of
Companies are required to transfer “other comprehensive income” each period to shareholders' equity. The FASB Accounting Standards Codification represents the single source of authoritative U.S.
Indicate by letter whether each of the items listed below most likely is reported in the income statement as Net Income (NI) or in the statement of comprehensive income as Other Comprehensive Income
The following is a news item reported by Reuters:WASHINGTON, Jan 29 (Reuters)—Wright Medical Group, a maker of reconstructive implants for knees and hips, on Tuesday filed to sell 3 million shares
During its first year of operations, Eastern Data Links Corporation entered into the following transactions relating to shareholders' equity. The articles of incorporation authorized the issue of 8
Williams Industries has outstanding 30 million common shares, 20 million Class A shares, and 20 million Class B shares. Williams has the right but not the obligation to repurchase the Class A shares
ICOT Industries issued 15 million of its $1 par common shares for $424 million on April 11. Legal, promotional, and accounting services necessary to effect the sale cost $2 million.Required:1.
Ozark Distributing Company is primarily engaged in the wholesale distribution of consumer products in the Ozark Mountain regions. The following disclosure note appeared in the company's 2011 annual
When companies offer new equity security issues, they publicize the offerings in the financial press and on Internet sites. Assume the following were among the equity offerings reported in December
The shareholders' equity of WBL Industries includes the items shown below. The board of directors of WBL declared cash dividends of $8 million, $20 million, and $150 million in its first three years
Borner Communications' articles of incorporation authorized the issuance of 130 million common shares. The transactions described below effected changes in Borner's outstanding shares. Prior to the
In 2011, Borland Semiconductors entered into the transactions described below. In 2008, Borland had issued 170 million shares of its $1 par common stock at $34 per share.Required:Assuming that
In 2011, Western Transport Company entered into the treasury stock transactions described below. In 2009, Western Transport had issued 140 million shares of its $1 par common stock at $17 per
At December 31, 2010, the balance sheet of Meca International included the following shareholders' equity accounts:Required:Assuming that Meca International views its share buybacks as treasury
On two previous occasions, the management of Dennison and Company, Inc., repurchased some of its common shares. Between buyback transactions, the corporation issued common shares under its management
In keeping with a modernization of corporate statutes in its home state, UMC Corporation decided in 2011 to discontinue accounting for reacquired shares as treasury stock. Instead, shares repurchased
The following excerpt is from an article reported in the April 9, 2009, online issue of Reuters.Adobe Systems Incorporated (Nasdaq: ADBE)—April 9, 2009 announces its Board of Directors
Shown below in T-account format are the changes affecting the retained earnings of Brenner-Jude Corporation during 2011. At January 1, 2011, the corporation had outstanding 105 million common shares,
The shareholders' equity of Core Technologies Company on June 30, 2010, included the following:Common stock, $1 par; authorized, 8 million shares; issued and outstanding, 3 million shares
Hanmi Financial Corporation is the parent company of Hanmi Bank. The company's stock split was announced in the following Business Wire:LOS ANGELES (BUSINESS WIRE) Jan. 20—Hanmi Financial
Douglas McDonald Company's balance sheet included the following shareholders' equity accounts at December 31, 2010:On March 16, 2011, a 4% common stock dividend was declared and distributed. The
Access the FASB's Codification Research System at the FASB website (www.fasb.org). Determine the specific citation for accounting for each of the following items:1. Requirements to disclose within
The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2010:During 2011, several events and transactions affected the retained earnings
Comparative balance sheets for Softech Canvas Goods for 2011 and 2010 are shown below. Softech pays no dividends, and instead reinvests all earnings for future growth.Required:1. Determine the return
Indicate by letter whether each of the terms or phrases listed below is more associated with financial statements prepared in accordance with U.S. GAAP (U) or International Financial Reporting
The following questions are used in the Kaplan CPA Review Course to study shareholders' equity while preparing for the CPA examination. Determine the response that best completes the statements or
The following questions dealing with shareholders' equity are adapted from questions that previously appeared on Certified Management Accountant (CMA) examinations. The CMA designation sponsored by
Part ADuring its first year of operations, the McCollum Corporation entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue 100 million
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2010:Required:1. During 2011, TNL Systems reacquired shares of its common
National Supply's shareholders' equity included the following accounts at December 31, 2010:Required:1. National Supply reacquired shares of its common stock in two separate transactions and later
Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2011 annual report as follows.At December 31, 2008, common shares consisted of the following:Common stock,
Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2011–2013. At December 31, 2010, the corporation's accounts included:a.
Comparative statements of shareholders' equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2011, 2012, and 2013.Required:1. Infer from the
The following is the 2009 Statement of Shareholders' Equity from Cisco Systems' 2009 annual report. Remember that for comparative purposes, three years are reported in these statements. The 2008 and
During its first year of operations, Cupola Fan Corporation issued 30,000 of $1 par Class B shares for $385,000 on June 30, 2011. Share issue costs were $1,500. One year from the issue date (July 1,
The shareholders' equity of Kramer Industries includes the data shown below. During 2012, cash dividends of $150 million were declared. Dividends were not declared in 2010 or 2011.Required:Determine
Indicate by letter whether each of the transactions listed below increases (I), decreases (D), or has no effect (N) on retained earnings. Assume the shareholders' equity of the transacting company
Ellis Transport Company acquired 1.2 million shares of stock in L&K Corporation at $44 per share. They are classified by Ellis as “available for sale.” Ellis sold 200,000 shares at $46, received
Part AIn late 2010, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 5,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par
A new CEO was hired to revive the floundering Champion Chemical Corporation. The company had endured operating losses for several years, but confidence was emerging that better times were ahead. The
Ray Dolby started Dolby Laboratories nearly 40 years ago and since then has been a leader in the entertainment industry and consumer electronics. Closely held since its founding in 1965, Dolby
The shareholders' equity portion of the balance sheet of Sessel's Department Stores, Inc., a large regional specialty retailer, is as follows:Disclosures elsewhere in Sessel's annual report revealed
An unsettled question in accounting for stock is: Should preferred stock be recognized as a liability, or should it be considered equity? Under International Financial Reporting Standards, preferred
Titan Networking became a public company through an IPO (initial public offering) two weeks ago. You are looking forward to the challenges of being assistant controller for a publicly owned

Showing 38100 - 38200 of 107832

First
375
376
377
378
379
380
381
382
383
384
385
386
387
388
389
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