Questions from Financial Accounting

Q: What are the differences between an operating lease and a capital lease

What are the differences between an operating lease and a capital lease?

Q: Let’s look at Dick’s Sporting Goods (Dick’s) some more.

Let’s look at Dick’s Sporting Goods (Dick’s) some more. Think about Dick’s. What liabilities might Dick’s have in order to finance its operations? Return to Dick’s Annual Report and look at Dick’s fin...

Q: This problem continues our accounting for Fitness Equipment Doctor, Inc.,

This problem continues our accounting for Fitness Equipment Doctor, Inc., from Chapter 9. Fitness Equipment Doctor, Inc., has been authorized to sell 100,000 shares of $5 par value common stock and 40...

Q: Use the statement of stockholders’ equity in Exhibit 10-8 to

Use the statement of stockholders’ equity in Exhibit 10-8 to answer the following questions: 1. Make journal entries to record the declaration and payment of cash dividends during...

Q: The income statement and additional data of Consolidated Services, Inc.,

The income statement and additional data of Consolidated Services, Inc., follow: Additional data follows: a. Acquisition of fixed assets totaled $117,000. Of this amount, $103,000 was paid in cash...

Q: Skyway Systems completed the following stock issuance transactions: /

Skyway Systems completed the following stock issuance transactions: Requirements 1. Journalize the transactions. Explanations are not required. 2. How much paid-in capital did these transactions ge...

Q: Use the data for Consolidated Services from E11-15A.

Use the data for Consolidated Services from E11-15A. Data from E11-15A Requirements 1. Calculate the cash conversion cycle for Consolidated Services. Round all calculations to two decimal places. As...

Q: The charter for Zelkin, Inc., authorizes the company to issue

The charter for Zelkin, Inc., authorizes the company to issue 200,000 shares of $3, no-par preferred stock and 900,000 shares of common stock with $1 par value. During its start-up phase, Zelkin, Inc....

Q: Requirements Compute the following items for the statement of cash flows

Requirements Compute the following items for the statement of cash flows: 1. The beginning and ending Retained Earnings balances are $45,000 and $77,000, respectively. Net income for the period is $59...

Q: Bainbridge Corp. issued 4,000 shares of no-par

Bainbridge Corp. issued 4,000 shares of no-par common stock for $9 per share. Requirements 1. Record issuance of the stock if the stock: a. is a no-par stock. b. has a stated value of $5 per share 2...