Q: On January 1, 2016, Nichols Corporation granted 10,000
On January 1, 2016, Nichols Corporation granted 10,000 options to key executives. Each option allows the executive to purchase one share of Nichols’ $5 par value common stock at a price of $20 per sha...
See AnswerQ: Stave Company invests $10,000,000 in 5%
Stave Company invests $10,000,000 in 5% fixed rate corporate bonds on January 1, 2017. All the bonds are classified as available-for-sale and are purchased at par. At year-end, market interest rates h...
See AnswerQ: Derrick Company issues 4,000 shares of restricted stock to its
Derrick Company issues 4,000 shares of restricted stock to its CFO, Dane Yaping, on January 1, 2017. The stock has a fair value of $120,000 on this date. The service period related to this restricted...
See AnswerQ: Tweedie Company issues 10,000 shares of restricted stock to its
Tweedie Company issues 10,000 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2017. The stock has a fair value of $500,000 on this date. The service period related to this restricted...
See AnswerQ: Kenseth Company has the following securities in its portfolio on December 31
Kenseth Company has the following securities in its portfolio on December 31, 2017. None of these investments are accounted for under the equity method. All of the securities were purchased in 2017....
See AnswerQ: On January 1, 2018, Wilke Corp. had 480,
On January 1, 2018, Wilke Corp. had 480,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the common stock account. February 1…………………………..Issued 120,...
See AnswerQ: Ace Company had 200,000 shares of common stock outstanding on
Ace Company had 200,000 shares of common stock outstanding on December 31, 2018. During the year 2019, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 20...
See AnswerQ: Hagar Corporation has municipal bonds classified as a held-to-
Hagar Corporation has municipal bonds classified as a held-to-maturity at December 31, 2017. These bonds have a par value of $800,000, an amortized cost of $800,000, and a fair value of $720,000. The...
See AnswerQ: Presented below is information related to the purchases of common stock by
Presented below is information related to the purchases of common stock by Lilly Company during 2017. Instructions (Assume a zero balance for any Fair Value Adjustment account.) a. What entry woul...
See AnswerQ: On January 1, 2017, Lennon Industries had stock outstanding as
On January 1, 2017, Lennon 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 Answer
