Questions from Intermediate Accounting

Q: Access the audited annual financial statements of Goldcorp Inc. for its

Access the audited annual financial statements of Goldcorp Inc. for its year ended December 31, 2014 from SEDAR (www.sedar.com) or the company’s website. Instructions: (a) Describe the business that...

Q: Davis Inc. is a privately held company that uses ASPE.

Davis Inc. is a privately held company that uses ASPE. Davis had the following information available at March 31, 2017: Davis Inc.’s partial list of comparative account balances as...

Q: The following facts apply to the pension plan of Yorke Inc.

The following facts apply to the pension plan of Yorke Inc. for the year 2017. Yorke applies ASPE. Plan assets, January 1, 2017……………………………………………………………….$490,000 Defined benefit obligation, funding ba...

Q: Kindey Corporation has 185,000 common shares outstanding with a carrying

Kindey Corporation has 185,000 common shares outstanding with a carrying value of $20 per share. Kindey declares a 4-for-1 stock split. (a) How many shares are outstanding after the split? (b) What is...

Q: Use the information for Kindey Corporation from BE15-15. Assume

Use the information for Kindey Corporation from BE15-15. Assume instead that Kindey declared a 1-for-5 reverse stock split, and answer the same questions. Data from BE15-15: Kindey Corporation has 1...

Q: Lu Corporation has the following account balances at December 31, 2017

Lu Corporation has the following account balances at December 31, 2017: Common Shares Subscribed………………………………………………..$ 250,000 Common Shares…………………………………………………………………….310,000 Subscriptions Receivable…...

Q: The Sawgrass Corporation, a public company, reported the following balances

The Sawgrass Corporation, a public company, reported the following balances at January 1, 2017: Common Shares (32,000 shares issued, unlimited authorized)…………………$ 800,000 Retained Earnings……………………………...

Q: Khalid Inc. has the following selected financial data:

Khalid Inc. has the following selected financial data: There were no preferred dividends in arrears. (a) Calculate the following ratios for 2017: (1) rate of return on common shareholdersâ...

Q: List the types of dividends. Why do companies or investors have

List the types of dividends. Why do companies or investors have a preference for one or the other?

Q: Sullivan Limited issued 2,000 shares of no par value common

Sullivan Limited issued 2,000 shares of no par value common shares for $79,000. Prepare Sullivan’s journal entry if (a) the shares have no par value, and (b) the shares have a par value of $11 per sha...