Questions from Intermediate Accounting

Q: Consistent Company has been paying regular quarterly dividends of $2.

Consistent Company has been paying regular quarterly dividends of $2.00 and wants to pay the same amount in the third quarter of 2013. Given the following information, (1) What is the total amount tha...

Q: Phelps Company distributed the following dividends to its stockholders: (

Phelps Company distributed the following dividends to its stockholders: (a) 450,000 shares of Bedrock Corporation stock, carrying value of investment, $975,000; fair market value, $1,350,000. (b) 220,...

Q: The balance sheet of Carmen Corporation shows the following:

The balance sheet of Carmen Corporation shows the following: Common stock, $1 stated value, 80,000 shares issued and outstanding . . . . . . . . . . . . . $ 80,000 Paid-in capital in excess of stated...

Q: The capital accounts for Alston Market on June 30, 2013,

The capital accounts for Alston Market on June 30, 2013, are as follows: Common stock, $6 par, 50,000 shares issued and outstanding. . . . . . . . . . . . . . . . . . . . $ 300,000 Paid-in capital in...

Q: Zenon Company has 450,000 shares of $1 par value

Zenon Company has 450,000 shares of $1 par value common stock outstanding. In declaring and distributing a 10% stock dividend, Zenon initially issued only 40,000 new shares; the other stock dividend s...

Q: The retained earnings account for Carlitos Inc. shows the following debits

The retained earnings account for Carlitos Inc. shows the following debits and credits. Indicate all entries required to correct the account. What is the corrected amount of retained earnings?

Q: The following data are for Radial Company: Contributed capital

The following data are for Radial Company: Contributed capital and retained earnings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $417,000 Foreign currency translation adjustm...

Q: From the following information, reconstruct the journal entries that were made

From the following information, reconstruct the journal entries that were made by Rivers Corporation during 2013. *Includes net income of $40,000 for 2013. There were no dividends. Assume that reven...

Q: Why isn’t depreciation expense always computed for the exact number of days

Why isn’t depreciation expense always computed for the exact number of days an asset is owned?

Q: Kenny Co. began operations on January 1, 2012, by

Kenny Co. began operations on January 1, 2012, by issuing at $15 per share one-half of the 950,000 shares of $1 par value common stock that had been authorized for sale. In addition, Kenny has 500,000...