Questions from Financial Accounting


Q: Centerville Bancshares has 13,000 shares of $3 par common

Centerville Bancshares has 13,000 shares of $3 par common stock outstanding. Suppose Centerville distributes a 15% stock dividend when the market value of its stock is $25 per share. 1. Journalize Cen...

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Q: Karen Scanlon and Jennifer Shaw are opening a Submarines deli. Scanlon

Karen Scanlon and Jennifer Shaw are opening a Submarines deli. Scanlon and Shaw need outside capital, so they plan to organize the business as a corporation. They come to you for advice. Write a memor...

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Q: Identify the effects both the direction and the dollar amount of these

Identify the effects both the direction and the dollar amount of these assumed transactions on the total stockholders’ equity of Dracut Corporation. Each transaction is independent. a. Declaration of...

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Q: Speedtown Marina needs to raise $3 million to expand the company

Speedtown Marina needs to raise $3 million to expand the company. Speedtown Marina is considering the issuance of either: $3,000,000 of 8% bonds payable to borrow the money , or 100,000 shares of comm...

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Q: Compute the price of the following bonds: a. $

Compute the price of the following bonds: a. $300,000 issued at 75.75 b. $300,000 issued at 102.75 c. $300,000 issued at 94.50 d. $300,000 issued at 104.50

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Q: Determine whether the following bonds payable will be issued at maturity value

Determine whether the following bonds payable will be issued at maturity value, at a premium, or at a discount: a. The market interest rate is 5%. Carlisle Corp. issues bonds payable with a stated ra...

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Q: Identify the effects both the direction and the dollar amount of these

Identify the effects both the direction and the dollar amount of these assumed transactions on the total stockholders’ equity of Athol Corporation. Each transaction is independent. a. Declaration of...

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Q: Houle Plumbing Products Ltd. reported the following data in 2010 (

Houle Plumbing Products Ltd. reported the following data in 2010 (in billions): Compute Houles times-interest-earned ratio, and write a sentence to explain what the ratio value means. Would you be wi...

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Q: Like Home, Inc., includes the following selected accounts in its

Like Home, Inc., includes the following selected accounts in its general ledger at December 31, 2010: Prepare the liabilities section of Like Home, Inc.s balance sheet at December 31, 2010, to show h...

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Q: The accounting records of From the Earth Ceramics included the following balances

The accounting records of From the Earth Ceramics included the following balances at the end of the period: In the past, From the Earths warranty expense has been 7% of sales. During 2010 the busines...

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