Questions from Intermediate Accounting

Q: On January 1, 2011, Garner issued 10-year,

On January 1, 2011, Garner issued 10-year, $200,000 face value, 6% bonds at par. Each $1,000 bond is convertible into 30 shares of Garner $2 par value common stock. The company has had 10,000 shares o...

Q: Richardson Company is contemplating the establishment of a share-based compensation

Richardson Company is contemplating the establishment of a share-based compensation plan to provide long-run incentives for its top management. However, members of the compensation committee of the bo...

Q: In this simulation, you are asked to address questions related to

In this simulation, you are asked to address questions related to the accounting for stock options and earnings per share computations. Prepare responses to all parts.

Q: Briefly discuss the implications of the financial statement presentation project for the

Briefly discuss the implications of the financial statement presentation project for the reporting of stockholders’ equity.

Q: Mary Tokar is comparing a GAAP-based company to a company

Mary Tokar is comparing a GAAP-based company to a company that uses IFRS. Both companies report equity investments. The IFRS company reports unrealized losses on these investments under the heading “R...

Q: Explain each of the following terms: authorized ordinary shares, unissued

Explain each of the following terms: authorized ordinary shares, unissued ordinary shares, issued ordinary shares, outstanding ordinary shares, and treasury shares.

Q: Indicate how each of the following accounts should be classified in the

Indicate how each of the following accounts should be classified in the equity section. (a) Share Capital—Ordinary (b) Retained Earnings (c) Share Premium—Ordinary (d) Treasury Shares (e) Share Premiu...

Q: Arantxa Corporation has outstanding 20,000 shares of $5 par

Arantxa Corporation has outstanding 20,000 shares of $5 par value common stock. On August 1, 2012, Arantxa reacquired 200 shares at $80 per share. On November 1, Arantxa reissued the 200 shares at $70...

Q: Hinges Corporation issued 500 shares of $100 par value preferred stock

Hinges Corporation issued 500 shares of $100 par value preferred stock for $61,500. Prepare Hinges’s journal entry.

Q: Woolford Inc. declared a cash dividend of $1.00

Woolford Inc. declared a cash dividend of $1.00 per share on its 2 million outstanding shares. The dividend was declared on August 1, payable on September 9 to all stockholders of record on August 15....