Questions from College Accounting

Q: On July 1 April Corporation issued 10%, 10-year bonds

On July 1 April Corporation issued 10%, 10-year bonds with a face value of $107,000 for $94,749 because the current market rate is 12%. Record the following entries, assuming the interest method is us...

Q: On January 1 Russo Corporation sold $370,000 of 10

On January 1 Russo Corporation sold $370,000 of 10-year sinking fund bonds. The corporation expects to earn 10% on the sinking fund balance and is required to deposit $23,615 at the end of each year w...

Q: From the following, calculate the net cash flows from operating activities

From the following, calculate the net cash flows from operating activities (use the indirect method):

Q: Prepare a horizontal analysis of the comparative income statement for Alton Co

Prepare a horizontal analysis of the comparative income statement for Alton Co. for the years ending December 31, 2015, and December 31, 2016. (Round to the nearest hundredth of a percent as needed.)...

Q: From the following, prepare a common-size income statement for

From the following, prepare a common-size income statement for Todd Co. by converting the dollar amounts into percentages. (Round to the nearest hundredth of a percent.) Use net sales as 100%.

Q: From the following comparative balance sheet of Holland Co., prepare a

From the following comparative balance sheet of Holland Co., prepare a common-size comparative balance sheet. (Round all percentages to the nearest tenth of a percent.)

Q: From the given income statement and additional information of Carbone Co.,

From the given income statement and additional information of Carbone Co., compute the following: a. Asset turnover for 2016 b. Inventory turnover for 2016 c. Accounts receivable turnover for 2016

Q: What is the difference between market value and book value?

What is the difference between market value and book value?

Q: Acorn Company, which is a medium-sized firm, uses

Acorn Company, which is a medium-sized firm, uses a voucher system. Record each of the following entries in general journal form. Assume that Acorn Company records all vouchers at gross.

Q: Dona Company uses a voucher system along with a petty cash fund

Dona Company uses a voucher system along with a petty cash fund. Record each of the following entries in journal entry form. Assume that Dona Company records all vouchers at gross.