Questions from Financial Accounting

Q: The sale of inventory for cash is reported on the statement of

The sale of inventory for cash is reported on the statement of cash flows under a. Investing activities. b. Non-cash investing and financing activities. c. Operating activities. d. Financing activitie...

Q: Pryor Sales, Inc., is authorized to issue 190,000

Pryor Sales, Inc., is authorized to issue 190,000 shares of common stock and 10,000 shares of preferred stock. During its first year, the business completed the following stock issuance transactions:...

Q: Captain Sporting Goods is authorized to issue 13,000 shares of

Captain Sporting Goods is authorized to issue 13,000 shares of common stock. During a two-month period, Captain completed these stock-issuance transactions: Jul 23 Issued 3,200 shares of $1.00 par com...

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

Time Travel Publishing was recently organized. The company issued common stock to an attorney who provided legal services worth $25,000 to help organize the corporation. Time Travel also issued common...

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

Sagebrush Software had the following selected account balances at December 31, 2012 (in thousands, except par value per share): Requirements 1. Prepare the stockholders’ equity sec...

Q: In 2002, Enron Corporation fi led for Chapter 11 bankruptcy protection

In 2002, Enron Corporation fi led for Chapter 11 bankruptcy protection, shocking the business community: How could a company this large and this successful go bankrupt? This case explores the causes a...

Q: Journalize the following assumed transactions of Ambient Productions: Feb 22

Journalize the following assumed transactions of Ambient Productions: Feb 22 Issued 1,800 shares of $1.75 par common stock at $5 per share. Jun 25 Purchased 400 shares of treasury stock at $14 per sha...

Q: At December 31, 2012, Northern Corporation reported the stockholders’ equity

At December 31, 2012, Northern Corporation reported the stockholders’ equity accounts shown here (with dollar amounts in millions, except per-share amounts). Common stock $4.00 par value per share, 2,...

Q: Use the Northern Corporation data in Exercise 10-41B to prepare

Use the Northern Corporation data in Exercise 10-41B to prepare the stockholders’ equity section of the company’s balance sheet at December 31, 2013. In Exercise 10-41B At December 31, 2012, Northern...

Q: Zeta Products Company reported the following stockholders’ equity on its balance sheet

Zeta Products Company reported the following stockholders’ equity on its balance sheet: Requirements 1. What caused Zeta’s preferred stock to decrease during 2013...