Q: Kendall Inc. presented the following data. Net income ……………………………………..………………….
Kendall Inc. presented the following data. Net income ……………………………………..…………………. $2,200,000 Preferred stock: 50,000 shares outstanding, $100 par, 8% cumulative, not convertible ………………. 5,000,000 Common...
See AnswerQ: A portion of the statement of income and retained earnings of Pierson
A portion of the statement of income and retained earnings of Pierson Inc. for the current year follows. Note 1. During the year, Pierson Inc. suffered a major casualty loss of $1,340,000 after appl...
See AnswerQ: On January 1, 2012, Bailey Industries had stock outstanding as
On January 1, 2012, Bailey Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 10,000 shares …………….……………………….. $1,000,000 Common stock, $...
See AnswerQ: At January 1, 2012, Cameron Company’s outstanding shares included the
At January 1, 2012, Cameron Company’s outstanding shares included the following. 280,000 shares of $50 par value, 7% cumulative preferred stock 800,000 shares of $1 par value common stock Net income f...
See AnswerQ: In 2012, Buraka Enterprises issued, at par, 75 $
In 2012, Buraka Enterprises issued, at par, 75 $1,000, 8% bonds, each convertible into 100 shares of common stock. Buraka had revenues of $17,500 and expenses other than interest and taxes of $8,400 f...
See AnswerQ: On February 1, 2012, Buffalo Corporation issued 3,000
On February 1, 2012, Buffalo Corporation issued 3,000 shares of its $5 par value common stock for land worth $31,000. Prepare the February 1, 2012, journal entry.
See AnswerQ: On June 1, 2011, Bluhm Company and Amanar Company merged
On June 1, 2011, Bluhm Company and Amanar Company merged to form Davenport Inc. A total of 800,000 shares were issued to complete the merger. The new corporation reports on a calendar-year basis. On A...
See AnswerQ: The Ottey Corporation issued 10-year, $4,000
The Ottey Corporation issued 10-year, $4,000,000 par, 7% callable convertible subordinated debentures on January 2, 2012. The bonds have a par value of $1,000, with interest payable annually. The curr...
See AnswerQ: On January 1, 2012, Lindsey Company issued 10-year
On January 1, 2012, Lindsey Company issued 10-year, $3,000,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Lindsey common stock. Lindsey’s net income in 2013 was $2...
See AnswerQ: Zambrano Company’s net income for 2012 is $40,000.
Zambrano Company’s net income for 2012 is $40,000. The only potentially dilutive securities outstanding were 1,000 options issued during 2011, each exercisable for one share at $8. None has been exerc...
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