Questions from College Accounting

Q: Beilke’s Supply Stores issued the following bonds at a discount:

Beilke’s Supply Stores issued the following bonds at a discount: Date of issue and sale: ……………………………………………………………………… April 1, 20-1 Principal amount: ………………………………………………………………………………… $400,000 Sale pric...

Q: What financial statements are affected by an error in the ending inventory

What financial statements are affected by an error in the ending inventory?

Q: Okano Medical Lab issued $300,000 in bonds at face

Okano Medical Lab issued $300,000 in bonds at face value 10 years ago and has paid semiannual interest payments through the years. (a) Assume the bonds are redeemed at face value. (b) Assume that $25,...

Q: Okano Medical Lab issued $300,000 in bonds at

Okano Medical Lab issued $300,000 in bonds at face value 10 years ago and has paid semiannual interest payments through the years. (a) Assume the bonds are redeemed at face value. (b) Assume that $25,...

Q: On October 2, 20-1, the board of directors

On October 2, 20-1, the board of directors of Carr Company appropriated $400,000 of retained earnings for the purpose of buying a new yacht (used for entertaining clients). On July 15, 20-2, the yacht...

Q: Miller & Miller sold bonds at a premium for $525,

Miller & Miller sold bonds at a premium for $525,000 (premium of $25,000) eight years ago. (a) The corporation redeems $50,000 of this issue at 95. The unamortized premium is $500. (b) The corporation...

Q: Ramona Arroyo Co. issued the following bonds: Date

Ramona Arroyo Co. issued the following bonds: Date of issue and sale: ………………………………………………………. April 1, 20-1 Principal amount: ………………………………………………………………… $250,000 Sale price of bonds: ………………………………………………...

Q: Wang Corporation issued the following bonds at a premium:

Wang Corporation issued the following bonds at a premium: Date of issue and sale: ……………………………………………………………….. March 1, 20-1 Principal amount: …………………………………………………………………………….. $250,000 Sale price of bon...

Q: The following activities took place in Tomberlin Company during the most recent

The following activities took place in Tomberlin Company during the most recent year. Indicate whether each activity is a cash inflow (+) or cash outflow (–), and whether it is an operating activity (...

Q: Refer to Problem 23-9B. The following additional information was

Refer to Problem 23-9B. The following additional information was obtained from Kennington’s financial statements and auxiliary records for the year ended December 31, 20-2. Acquired a new warehouse …...