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
intermediate accounting ifrs 4th edition

Questions and Answers of Intermediate Accounting IFRS 4th Edition

Sabonis Cosmetics Co. purchased machinery on December 31, 2014, paying \($50\),000 down and agreeing to pay the balance in four equal installments of \($40\),000 payable each December 31. An assumed
Chen Company issued its 9%, 25-year mortgage bonds in the principal amount of ¥30,000,000 on January 2, 2001, at a discount of¥2,722,992 (effective rate of 10%). The indenture securing the issue
In each of the following independent cases, the company closes its books on December 31.1. Sanford Co. sells \($500\),000 of 10% bonds on March 1, 2015. The bonds pay interest on September 1 and
Presented below are selected transactions on the books of Simonson Corporation.July 1, 2015 Bonds payable with a par value of €900,000, which are dated January 1, 2015, are sold at 119.219 plus
On April 1, 2015, Sarkar Company sold 15,000 of its 11%, 15-year, R\($1\),000 face value bonds to yield 12%. Interest payment dates are April 1 and October 1. On April 2, 2016, Sarkar took advantage
Crocker Corp.owes D. Yaeger Corp. a 10-year, 10% note in the amount of £330,000 plus £33,000 of accrued interest. The note is due today, December 31, 2015. Because Crocker Corp. is in financial
Presented below are three independent situations.Instructions(a) On January 1, 2015, Langley Co. issued 9% bonds with a face value of \($700\),000 for \($656\),992 to yield 10%. The bonds are dated
On January 1, 2016, Nichols Company issued for \($1\),085,800 its 20-year, 11% bonds that have a maturity value of \($1\),000,000 and pay interest semiannually on January 1 and July 1. Bond issue
Schrempf Company has completed a number of transactions during 2015. In January, the company purchased under contract a machine at a total price of€1,200,000, payable over 5 years with installments
On March 1, 2016, Sealy Company sold its 5-year, £1,000 face value, 9% bonds dated March 1, 2016, at an effective annual interest rate (yield) of 11%.Interest is payable semiannually, and the first
Matt Ryan Corporation is interested in building its own soda can manufacturing plant adjacent to its existing plant in Partyville, Kansas. The objective would be to ensure a steady supply of cans at
Donald Lennon is the president, founder, and majority owner of Wichita Medical Corporation, an emerging medical technology products company. Wichita is in dire need of additional capital to keep
Comparative Analysis Case adidas and Puma The financial statements of adidas (DEU) and Puma (DEU) are presented in Appendices B and C, respectively.The complete annual reports, including the notes to
Financial Statement Analysis Cases Case 1 Commonwealth Edison Co.The following article about Commonwealth Edison Co. (USA) appeared in the Wall Street Journal.Bond Markets Giant Commonwealth Edison
Accounting, Analysis, and Principles The following information is taken from the 2015 annual report of Bugant, Inc. Bugant’s fiscal year ends December 31 of each year.Additional information
Professional Research Wie Company has been operating for just 2 years, producing specialty golf equipment for women golfers.To date, the company has been able to finance its successful operations
Professional Simulation In this simulation, you are asked to address questions related to the accounting for non-current liabilities.Prepare responses to all parts. KWW Professional Simulation
Wilco Corporation has the following equity balances at December 31, 2015.Prepare Wilco’s December 31, 2015, equity section in the statement of financial position. Share capital-ordinary, 5 par
On February 1, 2015, Gruber Corporation issued 3,000 shares of its £5 par value ordinary shares for land worth £31,000. Prepare the February 1, 2015, journal entry.
Moonwalker Corporation issued 2,000 shares of its \($10\) par value ordinary shares for \($60\),000.Moonwalker also incurred \($1\),500 of costs associated with issuing the shares. Prepare
Sprinkle Inc. has outstanding 10,000 shares of €10 par value ordinary shares. On July 1, 2015, Sprinkle reacquired 100 shares at €87 per share. On September 1, Sprinkle reissued 60 shares at
Arantxa Corporation has outstanding 20,000 shares of R\($5\) par value ordinary shares. On August 1, 2015, Arantxa reacquired 200 shares at R\($80\) per share. On November 1, Arantxa reissued the 200
Silva Inc. owns shares of Costa Corporation classified as a trading equity investment. At December 31, 2015, the trading equity investment was carried in Silva’s accounting records at its cost of
Nottebart Corporation has outstanding 10,000 shares of €100 par value, 6% preference shares and 60,000 shares of €10 par value ordinary shares. The preference shares were issued in January 2015,
Abernathy Corporation was organized on January 1, 2015. It is authorized to issue 10,000 shares of 8%, \($50\) par value preference shares, and 500,000 shares of no-par ordinary shares with a stated
Loxley Corporation is authorized to issue 50,000 shares of \($10\) par value ordinary shares. During 2015, Loxley took part in the following selected transactions.1. Issued 5,000 shares at \($45\)
Weisberg Corporation has 10,000 shares of \($100\) par value, 6%, preference shares and 50,000 ordinary shares of \($10\) par value outstanding at December 31, 2015.Instructions Answer the questions
For a recent 2-year period, the statement of financial position of Jiang Group showed the following equity data at December 31 (amounts in millions).Instructions (a) Answer the following
Addison Corporation has 10 million shares of ordinary shares issued and outstanding. On June 1, the board of directors voted a 60 cents per share cash dividend to shareholders of record as of June
The following data were taken from the statement of financial position accounts of Murless Corporation on December 31, 2015.Instructions Prepare the required journal entries for the following
Teller Corporation’s post-closing trial balance at December 31, 2015, was as follows.At December 31, 2015, Teller had the following number of ordinary and preference shares.The dividends on
Elizabeth Company reported the following amounts in the equity section of its December 31, 2015, statement of financial position.During 2016, Elizabeth took part in the following transactions
Martinez Company’s ledger shows the following balances on December 31, 2015.Instructions Assuming that the directors decide to declare total dividends in the amount of €266,000, determine how
Johnstone Inc. began operations in January 2014 and reported the following results for each of its 3 years of operations.Johnstone Inc. has never paid a cash or share dividend. There has been no
On January 5, 2015, Phelps Corporation received a charter granting the right to issue 5,000 shares of \($100\) par value, 8% cumulative and non-participating preference shares, and 50,000 shares of
Clemson Company had the following equity as of January 1, 2015.During 2015, the following transactions occurred.Instructions (a) Prepare the journal entries to record the treasury share transactions
Hatch Company has two classes of share capital outstanding: 8%, £20 par preference and £5 par ordinary. At December 31, 2014, the following accounts were included in equity.The following
Washington Company has the following equity accounts at December 31, 2015.Instructions(a) Prepare entries in journal form to record the following transactions, which took place during 2016.(1) 280
The books of Conchita Corporation carried the following account balances as of December 31, 2015.The company decided not to pay any dividends in 2015.The board of directors, at their annual meeting
Myers Company provides you with the following condensed statement of financial position information.Instructions For each transaction below, indicate the euro impact (if any) on the following five
Earnhart Corporation has outstanding 3,000,000 ordinary shares with a par value of \($10\) each. The balance in its retained earnings account at January 1, 2015, was \($24\),000,000, and it then had
Penzi Company was formed on July 1, 2013.It was authorized to issue 300,000 shares of £10 par value ordinary shares and 100,000 shares of 8% £25 par value, cumulative and non-participating
Wallace Computer Company is a small, closely held corporation. Eighty percent of the shares are held by Derek Wallace, president. Of the remainder, 10%are held by members of his family and 10% by
Martin Corporation is planning to issue 3,000 shares of its own$10 par value ordinary shares for two acres of land to be used as a building site.Instructions(a) What general rule should be applied to
Mask Company has 30,000 shares of€10 par value ordinary shares authorized and 20,000 shares issued and outstanding. On August 15, 2015, Mask purchased 1,000 shares of treasury shares for €18 per
Comparative Analysis Case adidas and Puma The financial statements of adidas (DEU) and Puma (DEU) are presented in Appendices B and C, respectively.The complete annual reports, including the notes to
Financial Statement Analysis Case Case 1: BHP Billiton BHP Billiton (GBR) is the world’s largest diversified natural resources company. The company extracts and processes minerals, oil, and gas
Accounting, Analysis, and Principles On January 1, 2015, Nadal Corporation had the following equity accounts.Share Capital—Ordinary (€10 par value, 60,000 shares issued and outstanding)
Petrenko Corporation has outstanding 2,000 €1,000 bonds, each convertible into 50 shares of€10 par value ordinary shares. The bonds are converted on December 31, 2015. The bonds payable have a
On January 1, 2015, Barwood Corporation granted 5,000 options to executives. Each option entitles the holder to purchase one share of Barwood’s £5 par value ordinary shares at £50 per share at
On January 1, 2015 (the date of grant), Lutz Corporation issues 2,000 restricted shares to its executives.The fair value of these shares is $75,000, and their par value is $10,000. The shares are
Kalin Corporation had 2015 net income of €1,000,000. During 2015, Kalin paid a dividend of €2 per share on 100,000 preference shares. During 2015, Kalin had outstanding 250,000 ordinary shares.
Douglas Corporation had 120,000 ordinary shares outstanding on January 1, 2015. On May 1, 2015, 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, 2015. 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 R$300,000 in 2015 and had 100,000 ordinary shares outstanding throughout the year. Also outstanding all year was R$800,000 of 10% bonds, which are
DiCenta Corporation reported net income of €270,000 in 2015 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 2015 and had 200,000 ordinary shares outstanding throughout the year. Also outstanding all year were 45,000 options to purchase ordinary shares at
The 2015 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 (SARs) program on January 1, 2015, which entitles executives to receive cash at the date of exercise for the difference between the market price
Angela Corporation issues 2,000 convertible bonds at January 1, 2015. The bonds have a 3-year life and are issued at par with a face value of €1,000 per bond, giving total proceeds of €2,000,000.
Assume the same information in E16-1, except that Angela Corporation converts its convertible bonds on January 1, 2016.Instructions(a) Compute the carrying value of the bond payable on January 1,
On January 1, 2015, Cai Company issued a 10%convertible bond at par, with a face value of ¥100,000, maturing on January 1, 2025. The bond is convertible into ordinary shares of Cai at a conversion
On January 1, 2015, 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, 2015, at 98. The bonds were dated April 1, 2015, with interest payable April 1 and October 1. Bond discount is amortized
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
On September 1, 2015, Tokachi 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, 2015, 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, 2015, was
On November 1, 2014, 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, 2015, 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, 2014, Tsang Corporation granted 10,000 options to key executives. Each option allows the executive to purchase one share of Tsang’s HK\($5\) par value ordinary shares at a price of
Derrick Company issues 4,000 restricted shares to its CFO, Dane Yaping, on January 1, 2015. The shares have a fair value of £120,000 on this date. The service period related to these restricted
Lopez Company issues 10,000 restricted shares to its CFO, Juan Carlos, on January 1, 2015. The shares have a fair value of €500,000 on this date. The service period related to the restricted shares
Portillo Inc. uses a calendar year for financial reporting.The company is authorized to issue 9,000,000 R$10 par ordinary shares. At no time has Portillo issued any potentially dilutive securities.
On January 1, 2015, Chang Corp. had 480,000 ordinary shares outstanding. During 2015, it had the following transactions that affected the ordinary share account.Instructions (a) Determine the
Ott Company had 210,000 ordinary shares outstanding on December 31, 2015. During the year 2016, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2016,
Huang Company presented the following data (yen in thousands).Instructions Compute earnings per share. Net income Preference shares: 50,000 shares outstanding, 100 par, 8% cumulative, not convertible
A portion of the statement of income and retained earnings of Pierson Inc. for the current year follows.During the year, Pierson Inc. had a loss from discontinued operations of \($1\),340,000 after
On January 1, 2015, Bailey Industries had shares outstanding as follows.To acquire the net assets of three smaller companies, Bailey authorized the issuance of an additional 170,000 ordinary shares.
At January 1, 2015, Cameron Company’s outstanding shares included the following.Net income for 2015 was R\($2\),830,000. No cash dividends were declared or paid during 2015. On February 15, 2016,
In 2015, 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
On June 1, 2014, Bluhm Company and Amanar Company merged to form Davenport Inc. A total of 800,000 shares were issued to complete the merger. The new corporation reports on a calendar-year basis.On
The Ottey Corporation issued 10-year, \($4\),000,000 par, 7% callable convertible subordinated debentures on January 2, 2015. The bonds have a par value of \($1\),000, with interest payable annually.
On January 1, 2015, Lund Company issued 10-year, €3,000,000 face value, 6% bonds, at par. Each €1,000 bond is convertible into 15 ordinary shares of Lund. Lund’s net income in 2016 was
Zambrano Company’s net income for 2015 is £40,000. The only potentially dilutive securities outstanding were 1,000 options issued during 2014, each exercisable for one share at £8. None has been
Brooks Inc. recently purchased Donovan Corp., a large midwestern home painting corporation. One of the terms of the merger was that if Donovan’s income for 2016 was \($110\),000 or more, 10,000
On December 31, 2012, Flessel Company issues 120,000 shareappreciation rights to its officers entitling them to receive cash for the difference between the market price of its shares and a
Dominquez 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
Berg Company adopted a share-option plan on November 30, 2014, that provided that 70,000 shares of \($5\) par value ordinary shares be designated as available for the granting of options to officers
Amy Dyken, controller at Fitzgerald Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for
Meng Group is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2015, and May 31, 2016 (yen in thousands).The income from
The information below pertains to Barkley Company for 2015.There were no changes during 2015 in the number of ordinary shares, preference shares, or convertible bonds outstanding. There are no
Agassi Corporation is preparing the comparative financial statements to be included in the annual report to shareholders. Agassi employs a fiscal year ending May 31.Income before income tax for
The executive officers of Rouse Corporation have a performance-based compensation plan. The performance criteria of this plan is linked to growth in earnings per share. When annual EPS growth is 12%,
Comparative Analysis Case adidas and Puma The financial statements of adidas (DEU) and Puma (DEU) are presented in Appendices B and C, respectively.The complete annual reports, including the notes to
International Reporting Case Sepracor, Inc., a U.S. drug company, reported the following information in a recent annual report (amounts in thousands). The company prepares its financial statements in
Accounting, Analysis, and Principles On January 1, 2015, 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,
Professional Simulation 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. KWW
If the bonds in Question 6 are classified as trading and they have a fair value at December 31, 2015, of €3,604,000, prepare the journal entry (if any) at December 31, 2015, to record this
Cameron Company has a portfolio of debt investments that it has managed as a trading investment.At December 31, 2015, Cameron had the following balances related to this portfolio: debt
On January 1, 2015, Jennings Company purchased at par 10% bonds having a maturity value of €300,000. They are dated January 1, 2015, and mature January 1, 2020, with interest receivable December 31

Showing 300 - 400 of 1983

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
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