Questions from Financial Accounting

Q: Journey Publishing was recently organized. The company issued common stock to

Journey Publishing was recently organized. The company issued common stock to an attorney who provided legal services worth $24,000 to help organize the corporation. Journey also issued common stock t...

Q: Bukala Software had the following selected account balances at December 31,

Bukala Software had the following selected account balances at December 31, 2010 (in thousands, except par value per share): Requirements 1. Prepare the stockholders equity section of Bukala Softwar...

Q: Journalize the following assumed transactions of Applebug Productions: /

Journalize the following assumed transactions of Applebug Productions: What was the overall effect of these transactions on Applebugs stockholders equity?

Q: At December 31, 2010, Eastern Corporation reported the stockholders equity

At December 31, 2010, Eastern Corporation reported the stockholders equity accounts shown here (with dollar amounts in millions, except per share amounts). Easterns 2011 transactions included the fol...

Q: The stockholders equity for Icy Pop Drive-Ins (IP)

The stockholders equity for Icy Pop Drive-Ins (IP) on December 31, 2010, follows: On August 15, 2011, the market price of IP common stock was $15 per share. Assume IP distributed a 20% stock dividend...

Q: The balance sheet of Eclectic Rug Company reported the following:

The balance sheet of Eclectic Rug Company reported the following: Requirements 1. Compute the book value per share for the common stock, assuming all preferred dividends are fully paid up (none in a...

Q: LaSalle Inns reported these figures for 2011 and 2010 (in millions

LaSalle Inns reported these figures for 2011 and 2010 (in millions): Requirement 1. Compute LaSalles return on assets and return on common stockholder’s equity for 2011. Do these r...

Q: Lawrence Company included the following items in its financial statements for 2010

Lawrence Company included the following items in its financial statements for 2010, the current year (amounts in millions): Requirement 1. Compute Lawrences return on assets and return on common equ...

Q: Answer the following questions about the characteristics of a corporations stock:

Answer the following questions about the characteristics of a corporations stock: 1. Who are the real owners of a corporation? 2. What privileges do preferred stockholders have over common stockhold...

Q: Travel Publishing was recently organized. The company issued common stock to

Travel Publishing was recently organized. The company issued common stock to an attorney who provided legal services worth $23,000 to help organize the corporation. Travel also issued common stock to...