Questions from Intermediate Accounting

Q: Branson Restaurants Limited is currently reviewing its financial operations for the past

Branson Restaurants Limited is currently reviewing its financial operations for the past year. Specifically, it is looking to determine what is happening with one of its restaurants (which it owns - i...

Q: Oil Company Limited (OCL) is in the oil and gas

Oil Company Limited (OCL) is in the oil and gas business and operates internationally. The company is public and lists on the National Stock Exchange. In the past two years, oil prices have been decli...

Q: Verity Retail Limited was a private company that experienced cash flow difficulties

Verity Retail Limited was a private company that experienced cash flow difficulties and hired new management to turn the company around. The company then went public and the shares sold at $15 per sha...

Q: Environmental Inc. operates in Canada and the United States. Its

Environmental Inc. operates in Canada and the United States. Its basic business is high-temperature treatment services for contaminated soil. In its 2020 financial statements, the company had a loss o...

Q: Towers Inc. (TI) is a leader in delivering communications

Towers Inc. (TI) is a leader in delivering communications technology that powers global commerce and secures the world's most critical information. Its shares trade on the Canadian and U.S. national s...

Q: Rouge Valley Golf and Health Club (RVGH) is a public

Rouge Valley Golf and Health Club (RVGH) is a public company that operates eight clubs in a large city and offers one-year memberships. Membership gives members access to golf and the fitness centre i...

Q: The Blue Collar Corporation had income from continuing operations of $12

The Blue Collar Corporation had income from continuing operations of $12.6 million in 2020. During 2020, it disposed of its restaurant division at a loss of $89,000 (net of tax of $38,000). Before the...

Q: TELUS Corporation is one of Canada's largest telecommunications companies and provides both

TELUS Corporation is one of Canada's largest telecommunications companies and provides both products and services. Its shares are traded on the Toronto and New York stock exchanges, and its credit fac...

Q: Findit Gold Inc. (FGI) was created in 2012 and

Findit Gold Inc. (FGI) was created in 2012 and is 25% owned by Findit Mining Corporation (FMC). FGI's shares trade on the local exchange and its objective is to become a substantial low-cost mineral p...

Q: Real Estate Investment Trust (RE) was created to hold hotel

Real Estate Investment Trust (RE) was created to hold hotel properties. RE currently holds 15 luxury and first-class hotels in Europe. The entity is structured as an investment trust, which means that...