Questions from Accounting Principles


Q: Presented below are long-term liability items for Lind Company at

Presented below are long-term liability items for Lind Company at December 31, 2020. Prepare the long-term liabilities section of the balance sheet for Lind Company. Bonds payable, due ……………………………………...

See Answer

Q: Suppose the 2020 adidas financial statements contain the following selected data (

Suppose the 2020 adidas financial statements contain the following selected data (in millions). Compute the following values and provide a brief interpretation of each. a. Debt to assets ratio. b. T...

See Answer

Q: Wayne Company is considering a long-term investment project called ZIP

Wayne Company is considering a long-term investment project called ZIP. ZIP will require an investment of $140,000. It will have a useful life of 4 years and no salvage value. Annual cash inflows woul...

See Answer

Q: Wayne Company is considering a long-term investment project called ZIP

Wayne Company is considering a long-term investment project called ZIP. ZIP will require an investment of $120,000. It will have a useful life of 4 years and no salvage value. Annual cash inflows woul...

See Answer

Q: Ranger Corporation has decided to invest in renewable energy sources to meet

Ranger Corporation has decided to invest in renewable energy sources to meet part of its energy needs for production. It is considering solar power versus wind power. After considering cost savings as...

See Answer

Q: Wayne Company is considering a long-term investment project called ZIP

Wayne Company is considering a long-term investment project called ZIP. ZIP will require an investment of $120,000. It will have a useful life of 4 years and no salvage value. Annual cash inflows woul...

See Answer

Q: Wayne Company is considering a long-term investment project called ZIP

Wayne Company is considering a long-term investment project called ZIP. ZIP will require an investment of $120,000. It will have a useful life of 4 years and no salvage value. Annual revenues would in...

See Answer

Q: Kurtyka Corporation had the following transactions relating to debt investments:

Kurtyka Corporation had the following transactions relating to debt investments: Jan. 1, 2020 Purchased 50, $1,000, 10% Spiller Company bonds for $50,000. Interest is payable annually on January 1. De...

See Answer

Q: Ragsdell Corporation had the following transactions. 1. Issued $

Ragsdell Corporation had the following transactions. 1. Issued $200,000 of bonds payable. 2. Paid utilities expense. 3. Issued 500 shares of preferred stock for $45,000. 4. Sold land and a building fo...

See Answer

Q: Presented below are two independent situations: 1. Edelman Inc

Presented below are two independent situations: 1. Edelman Inc. acquired 10% of the 500,000 shares of common stock of Schuberger Corporation at a total cost of $11 per share on June 17, 2020. On Septe...

See Answer