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

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

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Q: Tseng Corporation Ltd. has the following capital structure at the following

Tseng Corporation Ltd. has the following capital structure at the following fiscal years ended December 31: The following additional information is available. 1. On July 31, 2017, Tseng Corporation...

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Q: Use the same information for Audrey Inc. as in P17-

Use the same information for Audrey Inc. as in P17-3, but also assume the following. 1. On September 30, 200,000 convertible preferred shares were redeemed. If they had been converted, these shares wo...

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Q: The 2014 financial statements (for its 53-week period ended

The 2014 financial statements (for its 53-week period ended January 3, 2015) and 10-year financial review of Canadian Tire Corporation, Limited can be found at www.sedar.com or on the company’s websit...

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Q: Audrey Inc. has 1 million common shares outstanding as at January

Audrey Inc. has 1 million common shares outstanding as at January 1, 2017. On June 30, 2017, 4% convertible bonds were converted into 100,000 additional shares. Up to that point, the bonds had paid in...

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Q: Loretta Corporation, a publicly traded company, is preparing the comparative

Loretta Corporation, a publicly traded company, is preparing the comparative financial statements to be included in the annual report to shareholders. Loretta’s fiscal year ends May 31. The following...

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Q: Rocky Mountain Corp. currently has an issued debenture outstanding with Abbra

Rocky Mountain Corp. currently has an issued debenture outstanding with Abbra Bank. The note has a principal of $2 million, was issued at face value, and interest is payable at 7%. The term of the deb...

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Q: Gateway Corporation has outstanding 200,000 common shares that were issued

Gateway Corporation has outstanding 200,000 common shares that were issued at $10 per share. The balances at January 1, 2017 were $21 million in its Retained Earnings account; $4.3 million in its Cont...

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Q: The first audit of the books of Gomez Limited was recently carried

The first audit of the books of Gomez Limited was recently carried out for the year ended December 31, 2017. Gomez follows IFRS. In examining the books, the auditor found that certain items had been o...

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Q: The following information is available for Dylan Inc., a company whose

The following information is available for Dylan Inc., a company whose shares are traded on the Toronto Stock Exchange: Other information: 1. For all of the fiscal year 2017, $100,000 of 6% cumulati...

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