Financial Accounting

A contractor acquires truck-mounted concrete-pumping equipment. Owing to the ini

A contractor acquires truck-mounted concrete-pumping equipment. Owing to the initial and operating costs, the contractor is in doubt as to the preferred method for charging deprec…

A contractor builds two models of homes, model A and model B. The model A requir

A contractor builds two models of homes, model A and model B. The model A requires 500 worker-days of labor and $500,000 in capital, and model B requires 300 worker-days of labor …

A contractor has a contract to remove and replace the existing landscape and sid

A contractor has a contract to remove and replace the existing landscape and sidewalks around an office building. The work includes: - demolition of the existing landscaping and s…

A contractor has purchased a grader for $150,000 and expects to use it about 1,0

A contractor has purchased a grader for $150,000 and expects to use it about 1,000 hours per year. The contractor plans to use the grader for 12 years and then realize a salvage v…

A contractor has to choose one of the following alternatives in performing earth

A contractor has to choose one of the following alternatives in performing earthmoving contracts: A. Buy a truck for $35,000. Salvage value is expected to be $8,000 at the end of …

A contractor is considering the purchase of a bulldozer. Two possible alternativ

A contractor is considering the purchase of a bulldozer. Two possible alternative shown here, are being considered. Compare the two bulldozers based upon an equivalent uniform ser…

A contractor is considering whether to buy or lease a new machine for her layout

A contractor is considering whether to buy or lease a new machine for her layout site work. Buying a new machine will cost $12,000 with a salvage value of $1200 after the machine'…

A contractor is trying to decide between a gasoline or a diesel bulldozer engine

A contractor is trying to decide between a gasoline or a diesel bulldozer engine. The gasoline engine will cost $2,000 and have annual maintenance cost of $200. It will consume $7…

A contractor must choose between buying or renting a crane for the duration of a

A contractor must choose between buying or renting a crane for the duration of a 5 year construction project. The contractor uses an MARR of 8%. The crane costs $540,000 and can b…

A contractor must choose between buying or renting a crane for the duration of a

A contractor must choose between buying or renting a crane for the duration of a 4 year construction project. The contractor uses an MARR of 8%. The crane costs $540,000 and can b…

A contributes $100,000 cash to the AB partnership and B contributes a building w

A contributes $100,000 cash to the AB partnership and B contributes a building with an adjusted basis of $50,000 and a fair market value of $100,000. Unless otherwise stated, appl…

A contributes $100,000 cash to the AB partnership and B contributes a building w

A contributes $100,000 cash to the AB partnership and B contributes a building with an adjusted basis of $50,000 and a fair market value of $100,000. Unless otherwise stated, appl…

A corperation has 19 000 shares of 19%, 350 par cumulaive peeforred stock oursta

A corperation has 19 000 shares of 19%, 350 par cumulaive peeforred stock ourstanding and 38.000 shares of n-par common stock ouslanding Dhvidends of $37,000 are in arears Al the …

A corporate charter specifies that the company may sell up to 25 million shares

A corporate charter specifies that the company may sell up to 25 million shares of stock. The company sells 17 million shares to investors and later buys back 5.5 million shares. …

A corporation Issued 250 shares of Its $5 par value common stock in payment of a

A corporation Issued 250 shares of Its $5 par value common stock in payment of a $3,300 charge from its accountant for assistance in fillng its charter with the state. The entry t…

A corporation acquired a truck on July 1, 2012, at a cost of $162,000. The truck

A corporation acquired a truck on July 1, 2012, at a cost of $162,000.  The truck has a six-year useful life and an estimated salvage value of $18,000.  The straight-line method o…

A corporation based in East Lansing, Michigan, Kingsfield uses the U.S. dollar a

A corporation based in East Lansing, Michigan, Kingsfield uses the U.S. dollar as its reporting currency. a, Assume that the subsidiary’s functional currency is the kumquat. Prepa…

A corporation borrowed $115,000 cash by signing a 5-year, 9% installment note re

A corporation borrowed $115,000 cash by signing a 5-year, 9% installment note requiring equal annual payments each December 31 of $29,566. What journal entry would the issuer reco…

A corporation borrowed $125,000 cash by signing a 5-year, 9% installment note re

A corporation borrowed $125,000 cash by signing a 5-year, 9% installment note requiring equal annual payments each December 31 of $32,136. What journal entry would the issuer reco…

A corporation borrowed $131,000 cash by signing a 5-year, 10% installment note r

A corporation borrowed $131,000 cash by signing a 5-year, 10% installment note requiring equal annual payments each December 31 of $34,557. What journal entry would the issuer rec…

A corporation borrowed money from a bank to build a Plant. The corporation is to

A corporation borrowed money from a bank to build a Plant. The corporation is to pay the bank $100,000 each year for 10 years to repay the loan. Which of the following relationshi…

A corporation borrowed money from a bank to build a building. The long-term note

A corporation borrowed money from a bank to build a building. The long-term note signed by the corporation is secured by a mortgage that pledges title to the building as security …

A corporation called an outstanding bond obligation four years before maturity.

A corporation called an outstanding bond obligation four years before maturity. At that time there was an unamortized discount of $750,000. To extinguish this debt, the company ha…

A corporation declared and issued a 15% stock dividend on November 1. The follow

A corporation declared and issued a 15% stock dividend on November 1. The following up-to-date data were available immediately prior to the dividend: Retained Earnings %u2026%u202…

A corporation had 10,000 shares of $10 par value common stock outstanding when t

A corporation had 10,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 3,000 shares. At the time of the stock dividend,…

A corporation had 10,000 shares of $10 par value common stock outstanding when t

A corporation had 10,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 3,000 shares. At the time of the stock dividend,…

A corporation had 13,000 shares of $10 par value common stock outstanding when t

A corporation had 13,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 4,680 shares. At the time of the stock dividend,…

A corporation had 14,000 shares of $10 par value common stock outstanding when t

A corporation had 14,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 5,320 shares. At the time of the stock dividend,…

A corporation had 18,500 shares of $5 par value common stock outstanding when th

A corporation had 18,500 shares of $5 par value common stock outstanding when the board of directors declared a stock dividend of 6,845 shares. At the time of the stock dividend, …

A corporation had 50,000 shares of $20 par value common stock outstanding July 1

A corporation had 50,000 shares of $20 par value common stock outstanding July 1. Later that day the board of directors declared a 10% stock dividend when the market value of each…

A corporation had stockholders\' equity on January 1 as follows: Common Stock, $

A corporation had stockholders' equity on January 1 as follows: Common Stock, $10 par value, 1,500,000 shares authorizd, 600,000 shares issued; Paid-in Capital in Excess of Par Va…

A corporation had the following stock outstanding when the company\'s board of d

A corporation had the following stock outstanding when the company's board of directions declared a $95,000 cash dividend in the current year; Allocate the cash divided between th…

A corporation has 15,000 shares of 10%, $50 par cumulative preferred stock outst

A corporation has 15,000 shares of 10%, $50 par cumulative preferred stock outstanding and 25,000 shares of no-par common stock outstanding. Dividends of $37,500 are in arrears. A…

A corporation has 15,000 shares of 10%, $50 par cumulative preferred stock outst

A corporation has 15,000 shares of 10%, $50 par cumulative preferred stock outstanding and 25,000 shares of no-par common stock outstanding. Dividends of $37,500 are in arrears. A…

A corporation has 15,000 shares of 11%. S50 par cumulative preferred stock outst

A corporation has 15,000 shares of 11%. S50 par cumulative preferred stock outstanding and 35,000 shares of no-par common stock outstanding. Dividends of $35,000 are in arrears. A…

A corporation has 22,000 shares of 15?%, $60 par cumulative preferred stock outs

A corporation has 22,000 shares of 15?%, $60 par cumulative preferred stock outstanding and 27,000 shares of no-par common stock outstanding. Dividends of $31,500 are in arrears. …

A corporation has 50,000 shares of $25 par value stock outstanding that has a cu

A corporation has 50,000 shares of $25 par value stock outstanding that has a current market value of $150. If the corporation issues a 5-for-1 stock split, the market value of th…

A corporation has 6,000 shares of common stock outstanding. The net income for t

A corporation has 6,000 shares of common stock outstanding. The net income for the year is $250,000. Calculate earnings per share. Peartree Inc. provides the following data: 2015 …

A corporation has both Preferred and Common Stock outstanding. Common Stock has

A corporation has both Preferred and Common Stock outstanding. Common Stock has been repurchased. Some of the repurchased Common Stock has been resold above the repurchase price. …

A corporation has provided the following information for the current year: Units

A corporation has provided the following information for the current year: Units produced 3,500 units Sale price $200 per unit Direct materials $70 per unit Direct labor $55 per u…

A corporation has two operating divisions--an Atlantic Division and a Pacific Di

A corporation has two operating divisions--an Atlantic Division and a Pacific Division. The company's Logistics Department services both divisions. The variable costs of the Logis…

A corporation hired a new product manager and agreed to provide her a $28,000 re

A corporation hired a new product manager and agreed to provide her a $28,000 relocation loan on a six-month, 8 percent note. Prepare journal entries to record the above transacti…

A corporation is considering implementation of aJIT inventory system. The compan

A corporation is considering implementation of aJIT inventory system. The company's industrial engineer recentlyconducted a study to determine the average number of days spent ine…

A corporation is considering investing in a new facility. Estimated cost of the

A corporation is considering investing in a new facility. Estimated cost of the facility is $1,645,026. It will be used for 12 years then sold for $717,200. The facility will gene…

A corporation is considering two plans for raising $3,000,000 to expand its oper

A corporation is considering two plans for raising $3,000,000 to expand its operations. The 12) first plan is to sell $3,000,000 of 6%, 10-year bonds at face value. The second pla…

A corporation is evaluating two investment projects, a tennis club and a squash

A corporation is evaluating two investment projects, a tennis club and a squash club. The tennis club would require €10 000 000 to build. The corporation’s management projects ann…

A corporation is preparing a statement of cash flow. Complete the following part

A corporation is preparing a statement of cash flow. Complete the following part of it in the spaces provided (be sure to indicate + or -): Operating Activities: Amount Net income…

A corporation is trying to determine how long ittakes for one product to pass th

A corporation is trying to determine how long ittakes for one product to pass through the production process. Thefollowing information was gathered regarding how many days theprod…

A corporation issued 2,000 shares of $50 par common for $55 cash per share. Upon

A corporation issued 2,000 shares of $50 par common for $55 cash per share. Upon issuing the stock, the corporation should make the following journal entry: Debit Common Stock for…

A corporation issued 2,500 shares its no par common stock at cash price of $11 p

A corporation issued 2,500 shares its no par common stock at cash price of $11 per share. The entry to record this transaction would be: a) Debit cash $27,500; credit Paid-in Capi…