Questions from Financial Accounting

Q: What are the three relevant dates involving cash dividends? Describe each

What are the three relevant dates involving cash dividends? Describe each.

Q: Wolcott Corporation issued 5,000 shares of no-par common

Wolcott Corporation issued 5,000 shares of no-par common stock for $2 per share on January 13. Record the stock issuance.

Q: Nelson Corporation issued 9,000 shares of $3 stated value

Nelson Corporation issued 9,000 shares of $3 stated value common stock for $11 per share on July 7. Record the stock issuance.

Q: Cedar Corporation issued 36,000 shares of $1 par value

Cedar Corporation issued 36,000 shares of $1 par value common stock in exchange for a building with a market value of $160,000. Record the stock issuance.

Q: Return to the ABC data in Short Exercise S13-12.

Return to the ABC data in Short Exercise S13-12. ABC had 8,000 shares of common stock outstanding during 2018. ABC declared and paid preferred dividends of $4,000 during 2018. Show how ABC reports EPS...

Q: Kingston, Inc. had beginning retained earnings of $135,

Kingston, Inc. had beginning retained earnings of $135,000 on January 1, 2018. During the year, Kingston declared and paid $85,000 of cash dividends and earned $75,000 of net income. Prepare a stateme...

Q: The following information was taken from the records of Arizona Motorsports,

The following information was taken from the records of Arizona Motorsports, Inc. at November 30, 2018: Prepare a multi-step income statement for Arizona Motorsports for the fiscal year ended Novemb...

Q: HEB Corporation had net income for 2018 of $60,450

HEB Corporation had net income for 2018 of $60,450. HEB had 15,500 shares of common stock outstanding at the beginning of the year and 20,100 shares of common stock outstanding as of December 31, 2018...

Q: Refer to the HEB data in Short Exercise S13-16.

Refer to the HEB data in Short Exercise S13-16. Assume the market price of HEB’s common stock is $19.50 per share. Compute HEB’s price/earnings ratio. Short Exercise S13-16: HEB Corporation had net...

Q: Wyler, Inc.’s 2018 balance sheet reported the following items

Wyler, Inc.’s 2018 balance sheet reported the following items—with 2017 figures given for comparison: Net income for 2018 was $3,690. Compute Wylerâ€&#...