Questions from Financial Accounting

Q: Companies that operate in different industries may have very different financial ratio

Companies that operate in different industries may have very different financial ratio values. These differences may grow even wider when we compare companies located in different countries.Compare th...

Q: EnviroFriend Structures, Inc., builds environmentally sensitive structures. The company’s

EnviroFriend Structures, Inc., builds environmentally sensitive structures. The company’s 2018 revenues totaled $2,780 million. At December 31, 2018, and 2017, the company had, respe...

Q: Robson Corporation issued 5%, 10-year bonds with a face

Robson Corporation issued 5%, 10-year bonds with a face value of $1,000,000 at a price of 98 on July 1, 2018. The bonds pay interest each January 1 and July 1. Robson uses the straight-line amortizati...

Q: Wicker Sales, Inc.’s, comparative income statements and balance

Wicker Sales, Inc.’s, comparative income statements and balance sheets show the following selected information for 2017 and 2018: Requirements: 1. Calculate the companyâ€...

Q: On January 31, 2018, Pristar Logistics, Inc., issued

On January 31, 2018, Pristar Logistics, Inc., issued 10-year, 5% bonds payable with a face value of $5,000,000. The bonds were issued at 95 and pay interest on January 31 and July 31. Pristar Logistic...

Q: Town Bank has $100,000 of 4% debenture bonds

Town Bank has $100,000 of 4% debenture bonds outstanding. The bonds were issued at 106 in 2018 and mature in 2038. The bonds have annual interest payments. Requirements: 1. How much cash did Town Ba...

Q: Energy Ltd. is authorized to issue $3,000,

Energy Ltd. is authorized to issue $3,000,000 of 1%, 10-year bonds payable. On December 31, 2018, when the market interest rate is 8%, the company issues $2,400,000 of the bonds. Energy amortizes bond...

Q: On June 30, 2018, the market interest rate is 9

On June 30, 2018, the market interest rate is 9%. Randall Corporation issues $600,000 of 10%, 15-year bonds payable. The bonds pay interest on June 30 and December 31. The company amortizes bond premi...

Q: On January 1, 2017, Ditchey Corporation issued five-year

On January 1, 2017, Ditchey Corporation issued five-year, 6% bonds payable with a face value of $3,500,000. The bonds were issued at 96 and pay interest on January 1 and July 1. Ditchey amortizes bond...

Q: Coldwell Transportation LO 4owns a fleet of 60 semi-trucks.

Coldwell Transportation LO 4owns a fleet of 60 semi-trucks. The original cost of the fleet was $9,000,000. Coldwell uses straight-line depreciation for the fleet for accounting purposes, and MACRS dep...