Questions from College Accounting

Q: McGregor Company had the following balances and results for the current calendar

McGregor Company had the following balances and results for the current calendar year: Retained earnings, January 1 ……………………………… $60,000 Cash dividends declared …………………………………………. 5,000 Net income for...

Q: During the year ended December 31, 20-2, Bebeto

During the year ended December 31, 20-2, Bebeto Company completed the following selected transactions: Apr. 15 Estimated that its 20-2 income tax will be $30,000. Based on this estimate, it will make...

Q: During the year ended December 31, 20--, Choi Company completed

During the year ended December 31, 20--, Choi Company completed the following transactions: Apr. 15 Declared a semiannual dividend of $1.50 per share on preferred stock and $0.40 per share on common s...

Q: D&E Stamps issued the following bonds: Date

D&E Stamps issued the following bonds: Date of issue and sale: ……………………………….... April 1, 20-1 Principal amount: ……………………………………….……$400,000 Sale price of bonds: ……………………………………….............. 100 Denom...

Q: Emerald, Inc., issued the following bonds at a discount:

Emerald, Inc., issued the following bonds at a discount: Date of issue and sale: …………………………………………………… April 1, 20-1 Principal amount: …………………………………………………………… $500,000 Sale price of bonds: ……………………………...

Q: Plantation Company issued the following bonds at a premium:

Plantation Company issued the following bonds at a premium: Date of issue and sale: …………………………………………………………………… March 1, 20-1 Principal amount: …………………………………………………………………………………. $700,000 Sale price of...

Q: Cline & Co. issued the following bonds at a discount:

Cline & Co. issued the following bonds at a discount: Date of issue and sale: …………………………………………………... April 1, 20-1 Principal amount: …………………………………………………………... $500,000 Sale price of bonds: …………………………...

Q: What are the three basic phases of the accounting process?

What are the three basic phases of the accounting process?

Q: Ramos Travel Co. issued the following bonds at a premium:

Ramos Travel Co. issued the following bonds at a premium: Date of issue and sale: …………………………………………………. April 1, 20-1 Principal amount: …………………………………………………………….. $600,000 Sale price of bonds: ……………………...

Q: Brenner’s Home Club issued the following bonds at a discount:

Brenner’s Home Club issued the following bonds at a discount: Date of issue and sale: …………………………………………… April 1, 20-1 Principal amount: ……………………………………………………… $500,000 Sale price of bonds: ……………………………...