Questions from Financial Accounting

Q: Alana Company sold bonds with a face value of $600,

Alana Company sold bonds with a face value of $600,000 for $580,000. The bonds have a coupon rate of 10 percent, mature in 10 years, and pay interest semiannually every June 30 and December 31. All of...

Q: Zues Corporation is planning to issue bonds with a face value of

Zues Corporation is planning to issue bonds with a face value of $800,000 and a coupon rate of 4 percent. The bonds mature in two years and pay interest semiannually every June 30 and December 31. All...

Q: Oak Corporation’s financial statements for the current year showed the following:

Oak Corporation’s financial statements for the current year showed the following: Compute Oak’s times interest earned ratio.

Q: Wapato Company sold bonds with a face value of $850,

Wapato Company sold bonds with a face value of $850,000 for $909,701. The bonds have a coupon rate of 8 percent, mature in 10 years, and pay interest annually every December 31. All of the bonds were...

Q: Skykomish Corporation purchased 20,000 shares of its own stock from

Skykomish Corporation purchased 20,000 shares of its own stock from investors for $45 per share. The next year, the company resold 5,000 of the repurchased shares for $50 per share, and the following...

Q: Compute the return on asset ratio for Year 2 given the following

Compute the return on asset ratio for Year 2 given the following data:

Q: In the current year, Salmon Company reported sales of $1

In the current year, Salmon Company reported sales of $1,420,000, interest expense of $12,000, income tax expense of $13,000, and net income of $52,000. What is Salmon’s times interest earned ratio?

Q: For each of the following events, which ones result in an

For each of the following events, which ones result in an exchange transaction for Dittman Company (Y for yes and N for no)? (1) Six investors in Dittman Company sold their stock to another investor....

Q: Zion Company earned $6.50 per share and paid dividends

Zion Company earned $6.50 per share and paid dividends of $3.50 per share. The company reported a dividend yield of 5 percent. What was the price of the stock?

Q: Preparing a Trial Balance Nash Company has the following adjusted accounts

Preparing a Trial Balance Nash Company has the following adjusted accounts and balances at year-end (June 30): Prepare an adjusted trial balance in good form for the Nash Company at June 30.