Questions from General Accounting

Q: At the end of the current year, the following information is

At the end of the current year, the following information is available for both Pulaski Company and Scott Company. Required 1. Compute the debt-to-equity ratios for both companies. 2. Comment on you...

Q: Refer to the bond details in Problem 14-5A.

Refer to the bond details in Problem 14-5A. Required 1. Prepare the January 1, 2015, journal entry to record the bonds’ issuance. 2. Determine the total bond interest expense to be...

Q: The Struter Partnership has total partners’ equity of $510,000

The Struter Partnership has total partners’ equity of $510,000, which is made up of Main, Capital, $400,000, and Frist, Capital, $110,000. The partners share net income and loss in a ratio of 80% to M...

Q: Refer to the bond details in Problem 14-4A.

Refer to the bond details in Problem 14-4A. Required 1. Compute the total bond interest expense over the bonds’ life. 2. Prepare an effective interest amortization table like the on...

Q: Carlsville Company, which began operations in 2015, invests its idle

Carlsville Company, which began operations in 2015, invests its idle cash in trading securities. The following transactions are from its short-term investments in trading securities. 2015 Jan. 20 Purc...

Q: Rose Company had no short-term investments prior to year 2015

Rose Company had no short-term investments prior to year 2015. It had the following transactions involving short-term investments in available-for-sale securities during 2015. Apr. 16 Purchased 4,000...

Q: Grass Security, which began operations in 2015, invests in long

Grass Security, which began operations in 2015, invests in long-term available-for-sale securities. Following is a series of transactions and events determining its long-term investment activity. 2015...

Q: Selk Steel Co., which began operations on January 4, 2015

Selk Steel Co., which began operations on January 4, 2015, had the following subsequent transactions and events in its long-term investments. 2015 Jan. 5 Selk purchased 60,000 shares (20% of total) of...

Q: Stoll Co.’s long-term available-for-sale

Stoll Co.’s long-term available-for-sale portfolio at December 31, 2014, consists of the following. Stoll enters into the following long-term investment transactions during year 20...

Q: Doering Company, a U.S. corporation with customers in

Doering Company, a U.S. corporation with customers in several foreign countries, had the following selected transactions for 2015 and 2016. 2015 Apr. 8 Sold merchandise to Salinas & Sons of Mexico...