Questions from Intermediate Accounting

Q: Linda Berstler Company sponsors a defined benefit pension plan. The corporation’s

Linda Berstler Company sponsors a defined benefit pension plan. The corporation’s actuary provides the following information about the plan. Instructions a. Compute the actual ret...

Q: Angela Corporation issues 2,000 convertible bonds at January 1,

Angela Corporation issues 2,000 convertible bonds at January 1, 2016. The bonds have a 3-year life, and are issued at par with a face value of $1,000 per bond, giving total proceeds of $2,000,000. Int...

Q: Assume that Amazon.com has a stock-option plan for

Assume that Amazon.com has a stock-option plan for top management. Each stock option represents the right to purchase a share of Amazon $1 par value common stock in the future at a price equal to the...

Q: Amy Dyken, controller at Fitzgerald Pharmaceutical Industries, a public company

Amy Dyken, controller at Fitzgerald Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Fitzgera...

Q: Melton Corporation is preparing the comparative financial statements for the annual report

Melton Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2017, and May 31, 2018. The income from operations for the...

Q: Charles Austin of the controller’s office of Thompson Corporation was given the

Charles Austin of the controller’s office of Thompson Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2018. Austin...

Q: The information below pertains to Barkley Company for 2018. Net

The information below pertains to Barkley Company for 2018. Net income for the year…………………………………$1,200,000 7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares...

Q: Leno Computers manufactures tablet computers for sale to retailers such as Fallon

Leno Computers manufactures tablet computers for sale to retailers such as Fallon Electronics. Recently, Leno sold and delivered 200 tablet computers to Fallon for $20,000 on January 5, 2017. Fallon h...

Q: Christina Corporation is preparing the comparative financial statements to be included in

Christina Corporation is preparing the comparative financial statements to be included in the annual report to stockholders. Christina employs a fiscal year ending May 31. Income from operations befo...

Q: Presented below is information taken from a bond investment amortization schedule with

Presented below is information taken from a bond investment amortization schedule with related fair values provided. These bonds are classified as available-for-sale. Instructions a. Indicate wheth...