Questions from Intermediate Accounting


Q: For each of the following cases, indicate in the chart below

For each of the following cases, indicate in the chart below the appropriate discount rate (i) and the appropriate number of periods (n) to be used in present value calculations. Show calculations. Th...

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Q: Cross Country Railroad Co. is about to issue $100,

Cross Country Railroad Co. is about to issue $100,000 of 10-year bonds that pay a 5.5% annual interest rate, with interest payable semi-annually. The market interest rate is 5%. How much can Cross Cou...

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Q: Assume the same information as BE3-27, except that the

Assume the same information as BE3-27, except that the market interest rate is 6% instead of 5%. In this case, how much can Cross Country expect to receive from the sale of these bonds? Show calculati...

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Q: Caledonian Company receives a six-year, $50,000

Caledonian Company receives a six-year, $50,000 note that bears interest at 8% (paid annually) from a customer at a time when the market interest rate is 6%. What is the present value of the note rece...

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Q: Airbus Group NV, previously known as European Aeronautic Defence and Space

Airbus Group NV, previously known as European Aeronautic Defence and Space Company or EADS NV, is incorporated in the Netherlands and its shares are traded in France, Germany, and Spain. Access the fi...

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Q: Hung-Chao Yu Company issues a six-year, 8

Hung-Chao Yu Company issues a six-year, 8% mortgage note on January 1, 2017, to obtain financing for new equipment. The terms provide for semi-annual installment payments of $112,825. What were the ca...

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Q: The following accounts are in Tan Limited’s December 31, 2017 trial

The following accounts are in Tan Limited’s December 31, 2017 trial balance: Prepaid Rent $1,600; Fair Value—OCI Investments $62,000; Unearned Revenue $7,000; Land Held for Speculation $119,000; and G...

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Q: Included in Cellin Limited’s December 31, 2017 trial balance are the

Included in Cellin Limited’s December 31, 2017 trial balance are the following accounts: Accounts Payable $251,000; Obligations under Lease $175,000; Unearned Revenue $141,000; Bonds Payable $480,000...

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Q: Use the information presented in BE5-8 for Cellin Limited to

Use the information presented in BE5-8 for Cellin Limited to prepare the non-current liabilities section of the statement of financial position in accordance with (a) IFRS and (b) ASPE. Data from BE5...

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Q: Wong Corporation is a popular clothing retailer with 15 stores located across

Wong Corporation is a popular clothing retailer with 15 stores located across Canada. After fi ve consecutive years of increasing sales, Wong would like to expand operations by adding 10 stores within...

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