Questions from Financial Accounting

Q: Which ratios should be used to help answer each of these questions

Which ratios should be used to help answer each of these questions? (a) How efficient is a company in using its assets to produce sales? (b) How near to sale is the inventory on hand? (c) How many dol...

Q: Contrast the effects of a cash dividend and a stock dividend on

Contrast the effects of a cash dividend and a stock dividend on a corporation’s balance sheet.

Q: During 2017, Slivowitz Company exchanged $1,700,000

During 2017, Slivowitz Company exchanged $1,700,000 of its common stock for land. Indicate how the transaction would be reported on a statement of cash flows, if at all.

Q: If the Bonds Payable account has a balance of $700,

If the Bonds Payable account has a balance of $700,000 and the Discount on Bonds Payable account has a balance of $36,000, what is the carrying value of the bonds?

Q: Alpine Company issues $2 million, 10-year, 7

Alpine Company issues $2 million, 10-year, 7% bonds at 99, with interest payable on December 31. The straight-line method is used to amortize bond discount. (a) Prepare the journal entry to record the...

Q: The following information is available for Lessila Bowling Alley at December 31

The following information is available for Lessila Bowling Alley at December 31, 2017 Prepare a classified statement of financial position. Assume that $13,900 of the notes payable will be paid in 201...

Q: (a) What are the phases of the corporate life cycle

(a) What are the phases of the corporate life cycle? (b) What effect does each phase have on the amounts reported in a statement of cash flows?

Q: At year-end, the price-earnings ratio of General

At year-end, the price-earnings ratio of General Motors was 11.3, and the price-earnings ratio of Microsoft was 28.14. Which company did the stock market favor? Explain.

Q: Distinguish between ordinary repairs and capital expenditures during an asset’s useful life

Distinguish between ordinary repairs and capital expenditures during an asset’s useful life.

Q: Doris Angel asks, “Since stock dividends don’t change anything,

Doris Angel asks, “Since stock dividends don’t change anything, why declare them?” What is your answer to Doris?