Questions from Financial Accounting

Q: Castillo Nutrition Company has 14,000 shares of cumulative preferred 1

Castillo Nutrition Company has 14,000 shares of cumulative preferred 1% stock, $130 par, and 70,000 shares of $5 par common stock. The following amounts were distributed as dividends: Year 1 ……………….....

Q: In teams, select a public company that interests you. Obtain

In teams, select a public company that interests you. Obtain the company’s most recent annual report on Form 10-K. The Form 10-K is a company’s annually required filing with the Securities and Exchang...

Q: On May 23, Washburn Realty Inc. issued for cash 45

On May 23, Washburn Realty Inc. issued for cash 45,000 shares of no-par common stock (with a stated value of $4) at $16. On July 6, Washburn Realty Inc. issued at par value 12,000 shares of preferred...

Q: On January 22, Micah Corporation issued for cash 125,000

On January 22, Micah Corporation issued for cash 125,000 shares of no-par common stock at $6. On February 14, Micah Corporation issued at par value 32,000 shares of preferred 2% stock, $80 par for cas...

Q: The declaration, record, and payment dates in connection with a

The declaration, record, and payment dates in connection with a cash dividend of $428,000 on a corporation’s common stock are February 28, April 1, and May 15. Journalize the entries required on each...

Q: The declaration, record, and payment dates in connection with a

The declaration, record, and payment dates in connection with a cash dividend of $195,000 on a corporation’s common stock are February 1, March 18, and May 1. Journalize the entries required on each d...

Q: Top-Value Corporation has 900,000 shares of $26

Top-Value Corporation has 900,000 shares of $26 par common stock outstanding. On September 2, Top-Value Corporation declared a 3% stock dividend to be issued November 30 to stockholders of record on O...

Q: Red Market Corporation has 370,000 shares of $27 par

Red Market Corporation has 370,000 shares of $27 par common stock outstanding. On June 8, Red Market Corporation declared a 5% stock dividend to be issued August 12 to stockholders of record on July 1...

Q: On January 31, Outback Coast Resorts Inc. reacquired 18,

On January 31, Outback Coast Resorts Inc. reacquired 18,700 shares of its common stock at $45 per share. On April 20, Outback Coast Resorts sold 10,600 of the reacquired shares at $52 per share. On Oc...

Q: Desmond Co. is considering the following alternative financing plans:

Desmond Co. is considering the following alternative financing plans: Income tax is estimated at 40% of income. Determine the earnings per share of common stock, assuming that income before bond inte...