Questions from Financial Accounting

Q: Refer to Amazon.com, Inc.’s Consolidated Financial Statements

Refer to Amazon.com, Inc.’s Consolidated Financial Statements in Appendix A at the end of the book, and answer the following questions: 1. Refer to Note 1 and Note 3 of the Notes to Consolidated Finan...

Q: Refer to the RadioShack Corporation Consolidated Financial Statements in Appendix B at

Refer to the RadioShack Corporation Consolidated Financial Statements in Appendix B at the end of this book. This case leads you through an analysis of the activity in Radioshack’s long-term assets, a...

Q: Wilcox Financial paid $530,000 for a 45% investment

Wilcox Financial paid $530,000 for a 45% investment in the common stock of Hornet, Inc. For the first year, Hornet reported net income of $240,000 and at year-end declared and paid cash dividends of $...

Q: During fiscal year 2012, Capitol Cupcakes reported a net income of

During fiscal year 2012, Capitol Cupcakes reported a net income of $132.4 million. Capitol received $1.4 million from the sale of other businesses. Capitol made capital expenditures of $10.5 million a...

Q: Assume that in early January 2012, a Sunshine Bakery restaurant purchased

Assume that in early January 2012, a Sunshine Bakery restaurant purchased a building, paying $53,000 cash and signing a $103,000 note payable. The restaurant paid another $66,000 to remodel the buildi...

Q: Assume Z-1 Software Consultants purchased a building for $445

Assume Z-1 Software Consultants purchased a building for $445,000 and depreciated it on a straight-line basis over 40 years. The estimated residual value was $90,000. After using the building for 20 y...

Q: Assume that on January 2, 2012, Vincent of Vermont purchased

Assume that on January 2, 2012, Vincent of Vermont purchased fixtures for $8,700 cash, expecting the fixtures to remain in service for five years. Vincent has depreciated the fixtures on a double-decl...

Q: National Truck Company is a large trucking company that operates throughout the

National Truck Company is a large trucking company that operates throughout the United States. National Truck Company uses the units-of-production (UOP) method to depreciate its trucks. National Truck...

Q: Boulder Mines paid $425,000 for the right to extract

Boulder Mines paid $425,000 for the right to extract ore from a 250,000-ton mineral deposit. In addition to the purchase price, Boulder Mines also paid a $110 fi ling fee, a $2,000 license fee to the...