Questions from General Accounting

Q: The stockholders’ equity of TVX Company at the beginning of the day

The stockholders’ equity of TVX Company at the beginning of the day on February 5 follows: On February 5, the directors declare a 20% stock dividend distributable on February 28 to...

Q: York’s outstanding stock consists of 80,000 shares of noncumulative 7

York’s outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 shares of common stock with a $1 par value. During its f...

Q: Use the data in Exercise 13-8 to determine the amount

Use the data in Exercise 13-8 to determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Also determine the total d...

Q: On January 1, 2015, Boston Enterprises issues bonds that have

On January 1, 2015, Boston Enterprises issues bonds that have a $3,400,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How...

Q: On January 1, 2015, Eagle borrows $100,000

On January 1, 2015, Eagle borrows $100,000 cash by signing a four-year, 7% installment note. The note requires four equal total payments of accrued interest and principal on December 31 of each year f...

Q: Use the information in Exercise 14-10 to prepare the journal

Use the information in Exercise 14-10 to prepare the journal entries for Eagle to record the loan on January 1, 2015, and the four payments from December 31, 2015, through December 31, 2018. Informat...

Q: Montclair Company is considering a project that will require a $500

Montclair Company is considering a project that will require a $500,000 loan. It presently has total liabilities of $220,000 and total assets of $620,000. 1. Compute Montclair’s (a) present debt-to-eq...

Q: Angela Moss and Autumn Barber organize a partnership on January 1.

Angela Moss and Autumn Barber organize a partnership on January 1. Moss’s initial net investment is $75,000, consisting of cash ($17,500), equipment ($82,500), and a note payable reflecting a bank loa...

Q: Stanford issues bonds dated January 1, 2015, with a par

Stanford issues bonds dated January 1, 2015, with a par value of $500,000. The bonds’ annual contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The bo...

Q: Quatro Co. issues bonds dated January 1, 2015, with

Quatro Co. issues bonds dated January 1, 2015, with a par value of $400,000. The bonds’ annual contract rate is 13%, and interest is paid semiannually on June 30 and December 31. The...