Questions from Financial Reporting

Q: On December 31, 2009, Internet Capital Group (ICG)

On December 31, 2009, Internet Capital Group (ICG) acquired 89% of the equity of GovDelivery for $19,670,000. This acquisition was accounted for under the acquisition method. In its 10-K filing with t...

Q: The following information is based on an actual annual report. Different

The following information is based on an actual annual report. Different names and years are being used. Bond and some of its subsidiaries provide certain postretirement medical, dental, and vision ca...

Q: The following information pertains to the pension plan of Beatty Business Group

The following information pertains to the pension plan of Beatty Business Group: Note that the information in Columns (2) and (3) are as of the beginning of the year, whereas the information in Colu...

Q: Selected pension information extracted from the retirement benefits note that appeared in

Selected pension information extracted from the retirement benefits note that appeared in Green’s 2017 annual report follows. (These numbers have been modified but are based on the a...

Q: Berle Corp. has a defined benefit pension plan that features the

Berle Corp. has a defined benefit pension plan that features the following data: January 1, 2016 (beginning of fiscal year): Fair value of plan assets ……………….……………….………………. $4,000 Projected benefit o...

Q: Trask Corporation, a public company whose shares are traded in the

Trask Corporation, a public company whose shares are traded in the over-the-counter market, had the following shareholders’ equity account balances at December 31, 2016: Common stock …………………..…………………....

Q: Nike Inc. is one of the world’s largest sellers of athletic

Nike Inc. is one of the world’s largest sellers of athletic footwear and athletic apparel. The following information is from Nike’s annual report. Note 7: Redeemabl...

Q: In its December 31, 2016, balance sheet, Castle,

In its December 31, 2016, balance sheet, Castle, Inc., reported 400,000 issued shares of common stock and 50,000 shares of treasury stock. The 2016 annual report also reported 100,000 exercisable ince...

Q: Riggs Corporation has the following balance sheet information at December 31,

Riggs Corporation has the following balance sheet information at December 31, 2016. Current liabilities …………………...…………………...…………………...$ 800,000 Convertible bonds ($1,000 par, 5%) …………………...………………….....

Q: On January 1, 2017, Darth Corp. granted nonqualified stock

On January 1, 2017, Darth Corp. granted nonqualified stock options to certain key employees as additional compensation. The options were for 100,000 shares of Darth’s $1 par value common stock at an e...