For more classes visit www.indigohelp.com • E7-3, E12-1, E12-8, P12-9A, P12-10A, E13-3, E13-4, IFRS13-1, P13-2A. Exercise 7-3 Exercise 12-1 Exercise 12-8 Problem 12-9A Problem 12-10A Exercise 13-3 Exercise 13-4 International Financial Reporting Standards 13-1 Problem 13-2A
For more classes visit www.indigohelp.com Why do corporations buy back their own stock? What does it tell you about the corporation? What effect does the purchase have on the price of a company’s stock? Does your Annual Report discuss stock repurchase or balances of treasury stock?
For more classes visit www.indigohelp.com Do It! 11-1, E11-5, E11-7, BYP11-1, BYP11-2, P11-5A, P11-8A. Do It! 11-1 Exercise 11-5 Garcia Corporation Exercise 11-7 Pele Company Broadening Your Perspective 11-1 Tootsie Roll Broadening Your Perspective 11-2 Tootsie Roll & Hershey Problem 11-5A Pringle Corporation Problem 11-8A Everett Corporation For more classes visit www.indigohelp.com Do It! 11-1, E11-5, E11-7, BYP11-1, BYP11-2, P11-5A, P11-8A. Do It! 11-1 Exercise 11-5 Garcia Corporation Exercise 11-7 Pele Company Broadening Your Perspective 11-1 Tootsie Roll Broadening Your Perspective 11-2 Tootsie Roll & Hershey Problem 11-5A Pringle Corporation Problem 11-8A Everett Corporation
For more classes visit www.indigohelp.com Why are companies required to prepare a statement of cash flows? Why is the statement of cash flows divided into three sections? What does each section tell you about the operations of a company? What are the differences between the direct and indirect presentation of cash flows? Why does the Financial Accounting Standards Board allow both methods? Which do you prefer? Why?
For more classes visit www.indigohelp.com P9-7A, E10-5, E10-8, E10-13, E10-22, E10-24, BYP10, P10-9A, P10-13A, IFRS10-4. Exercise 10-5: Olinger Company Exercise 10-8: Ortega Company Exercise 10-13: Romine Company Exercise 10-22: Cole Corporation Exercise 10-24: Nance, Co. Broadening Your Perspective 10-1: Tootsie Roll Broadening Your Perspective 10-2: Tootsie& Hershey Problem 9-7A: Farr Company
For more classes visit www.indigohelp.com Why is preferred stock referred to as preferred? What are some of the features added to preferred stock that make it more attractive to investors? Would you select preferred stock or common stock as an investment? Why? Provide stock details from your Annual Report.
For more classes visit www.indigohelp.com Why does a company choose to form as a corporation? What are the steps required to become a corporation? What are the advantages and disadvantages of the corporate form of doing business?
For more classes visit www.indigohelp.com P8-3A, BE9-11, DI9-5, E9-7, E9-8, BYP9, P9-2A. Problem 8-3A: Bosworth Company Brief Exercise 9-11: Nike, Inc. Do It! 9-5 Exercise 9-7: Wang, Co. Exercise 9-8: Cleand Company Broadening Your Perspective 9-1: Tootsie Roll Broadening Your Perspective 9-2: Tootsie& Hershey Problem 9-2A: Navaro Corporation
For more classes visit www.indigohelp.com P10-5A Fordyce Electronics issues a $400,000, 8%, 10-year mortgage note on December 31, 2007. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for semiannualinstallment payments, exclusive of real estate taxes and insurance, of $29,433. Payments are due June 30 and December 31. Complete the installment payments schedule for the first 2 years. (Round answers to 0 decimal places, e.g. 125. Use rounded amounts for future calculations.) Prepare the entries for (1) the loan and (2) the first two installment payments. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.) Show how the total mortgage liability should be reported on the balance sheet at December 31, 2008. P10-6A On July 1, 2011, Atwater Corporation issued $2,098,000 face value, 12%, 10-year bonds at $2,507,354. This price resulted in an effective-interest rate of 9% on the bonds. Atwater uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest July 1 and January 1.
For more classes visit www.indigohelp.com What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements? What does your Annual Report say about unearned revenue?
For more classes visit www.indigohelp.com What are the differences among valuation, depreciation, amortization, and depletion? Is it appropriate to calculate depreciation using two different methods? Why? What does the Annual Report you are using for class say about depreciation?
For more classes visit www.indigohelp.com E8-4, E8-11, BYP8-1, and BYP8-2 in MS Excel Exercise 8-4 Wainwright Company Exercise 8-11 Fedex Corporation Broadening your Perspective 8-1 Tootsie Roll Broadening your Perspective 8-2 Tootsie Roll and Hershey
For more classes visit www.indigohelp.com How are bad debts accounted for under the direct write-off method? What are the disadvantages of this method?
For more classes visit www.indigohelp.com How would you describe the entries to record the disposition of accounts receivables? What is their function?
For more classes visit www.indigohelp.com 1)Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $300,000 and credit sales are $1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense? 2) Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $15,000. If the balance of the Allowance for Doubtful Accounts is $3,000 credit before adjustment, what is the amount of bad debts expense for that period? 3) Intangible assets 4) Intangible assets are the rights and privileges that result from ownership of long-lived assets that 5) The book value of an asset is equal to the 6) Gains on an exchange of plant assets that has commercial substance are 7) Ordinary repairs are expenditures to maintain the operating efficiency of a plant asset and are referred to as 8) Costs incurred to increase the operating efficiency or useful life of a plant asset are referred to as 9) When an interest-bearing note matures, the balance in the Notes Payable account is 10) The interest charged on a $200,000 note payable, at a rate of 6%, on a 2-month note would be
For more classes visit www.indigohelp.com Question 207 On January 1, a machine with a useful life of five years and a residual value of $40,000 was purchased for $120,000. What is the depreciation expense for year 2 under the double-declining-balance method of depreciation? IFRS Multiple Choice Question 01 As a recent graduate of State University you're aware that IFRS requires component depreciation for plant assets. A friend has asked you to succinctly explain what component depreciation means. Which of the following correctly describes component depreciation? Multiple Choice Question 198 Given the following account balances at year end, compute the total intangible assets on the balance sheet of Janssen Enterprises. Cash $1,500,000 Accounts Receivable 4,000,000 Trademarks 1,000,000 Goodwill 2,500,000 Research & Development Costs 2,000,000 Explanation: Intangible Assets = Goodwill + Trademarks = 3,500,000 Multiple Choice Question 146 Bonds with a face value of $300,000 and a quoted price of 97¼ have a selling price of Multiple Choice Question 188 Sparks Company received proceeds of $423,000 on 10-year, 8% bonds issued on January 1, 2013. The bonds had a face value of $400,000, pay interest annually on December 31st, and have a call price of 102. Sparks uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2015? Multiple Choice Question S. Lawyer performed legal services for E. Corp. Due to a cash shortage, an agreement was reached whereby E. Corp. would pay S. Lawyer a legal fee of approximately $15,000 by issuing 8,000 shares of its common stock (par $1). The stock trades on a daily basis and the market price of the stock on the day the debt was settled is $1.80 per share. Given this information, the best journal entry for E. Corp. to record for this transaction is Multiple Choice Question 110