Questions from Financial Accounting

Q: Ludwig Corporation has the following data as of December 31, 2018

Ludwig Corporation has the following data as of December 31, 2018: Compute the debt to equity ratio at December 31, 2018.

Q: Right Now Electronic Center began October with 100 units of merchandise inventory

Right Now Electronic Center began October with 100 units of merchandise inventory that cost $70 each. During October, the store made the following purchases: Right Now uses the periodic inventory sy...

Q: Interest rates determine the present value of future amounts. (Round

Interest rates determine the present value of future amounts. (Round to the nearest dollar.) Requirements: 1. Determine the present value of 10-year bonds payable with face value of $86,000 and state...

Q: Journalize issuance of the bond and the first semiannual interest payment under

Journalize issuance of the bond and the first semiannual interest payment under each of the following three assumptions. The company amortizes bond premium and discount by the effective-interest amort...

Q: Use the Target Corporation financial statements to answer the following questions.

Use the Target Corporation financial statements to answer the following questions. Visit http://www.pearsonhighered.com/Horngren to view a link to Target Corporation’s Fiscal 2015 Annual Report. Requ...

Q: Bill and Edna had been married two years and had just reached

Bill and Edna had been married two years and had just reached the point where they had enough savings to start investing. Bill’s uncle Dave told them that he had recently inherited some very rare rail...

Q: The following transactions of Johnson Pharmacies occurred during 2018 and 2019:

The following transactions of Johnson Pharmacies occurred during 2018 and 2019: Requirements: 1. Journalize the transactions in the Johnson Pharmacies general journal. Round to the nearest dollar. E...

Q: Danny’s Hamburgers issued 6%, 10-year bonds payable at 90

Danny’s Hamburgers issued 6%, 10-year bonds payable at 90 on December 31, 2018. At December 31, 2020, Danny reported the bonds payable as follows: Danny’s pays se...

Q: On January 1, 2018, Nurses Credit Union (NCU)

On January 1, 2018, Nurses Credit Union (NCU) issued 8%, 20-year bonds payable with face value of $600,000. The bonds pay interest on June 30 and December 31. Requirements: 1. If the market interest...

Q: On January 1, 2018, Educators Credit Union (ECU)

On January 1, 2018, Educators Credit Union (ECU) issued 8%, 20-year bonds payable with face value of $1,000,000. These bonds pay interest on June 30 and December 31. The issue price of the bonds is 10...