Questions from Financial Accounting

Q: Majestic Manufacturing, Inc., reported the following: Stockholders’ Equity

Majestic Manufacturing, Inc., reported the following: Stockholders’ Equity Preferred stock, cumulative, $2.00 par, 8%, 70,000 shares issued ………….. $ 140,000 Common stock, $0.15 par, 9,070,000 shares i...

Q: The stockholders’ equity for Perfect Desserts Drive-Ins (PD)

The stockholders’ equity for Perfect Desserts Drive-Ins (PD) on December 31, 2012, follows: Stockholders’ Equity Common stock, $0.75 par, 2,700,000 shares authorized, 500,000 shares issued …….. $ 375,...

Q: Selling equipment is reported on the statement of cash flows under

Selling equipment is reported on the statement of cash flows under a. Financing activities. b. Non-cash investing and financing activities. c. Operating activities. d. Investing activities.

Q: Identify the effects—both the direction and the dollar amount—

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

Q: Solartech Corp. had the following stockholders’ equity at May 31 (

Solartech Corp. had the following stockholders’ equity at May 31 (dollars in millions, except par value per share): Stockholders’ Equity Common stock, $1.20 par, 900 million shares authorized, 400 mil...

Q: The balance sheet of Beecham Rug Company reported the following:

The balance sheet of Beecham Rug Company reported the following: Redeemable preferred stock, 6%, $90 par value, redemption value $25,000; outstanding 200 shares...........................................

Q: Microsoft Corporation is the defendant in numerous lawsuits claiming unfair trade practices

Microsoft Corporation is the defendant in numerous lawsuits claiming unfair trade practices. Microsoft has strong incentives not to disclose these contingent liabilities. However, GAAP requires that c...

Q: Lexington Inns reported these figures for 2013 and 2012 (in millions

Lexington Inns reported these figures for 2013 and 2012 (in millions): Requirements 1. Use DuPont analysis to compute Lexington’s return on assets and return on common stockholders...

Q: Easton Company included the following items in its financial statements for 2012

Easton Company included the following items in its financial statements for 2012, the current year (amounts in millions): Requirements 1. Use DuPont analysis to compute Easton’s re...

Q: Use the Easton data in Exercise E10-50B to show how

Use the Easton data in Exercise E10-50B to show how the company reported cash flows from financing activities during 2012 (the current year). List items in descending order from largest to smallest do...