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On January 1, 2017, Frontier Corporation had $1,270,000 of common stock outstand
On January 1, 2017, Frontier Corporation had $1,270,000 of common stock outstanding that was issued at par. It also had retained earnings of $749,000. stock at par on July 1 and e…
On January 1, 2017, Frontier Corporation had $1,445,000 of common stock outstand
On January 1, 2017, Frontier Corporation had $1,445,000 of common stock outstanding that was issued at par. It also had retained earnings of $743,500. The company issued 35,500 sh…
On January 1, 2017, Geffrey Corporation had the following stockholders’ equity a
On January 1, 2017, Geffrey Corporation had the following stockholders’ equity accounts. During the year, the following transactions occurred. 31 Determined that net income for th…
On January 1, 2017, Geffrey Corporation had the following stockholders’ equity a
On January 1, 2017, Geffrey Corporation had the following stockholders’ equity accounts. Common Stock ($26 par value, 58,500 shares issued and outstanding) $1,521,000 Paid-in Capi…
On January 1, 2017, Geffrey Corporation had the following stockholders’ equity a
On January 1, 2017, Geffrey Corporation had the following stockholders’ equity accounts. Common Stock ($22 par value, 60,500 shares issued and outstanding) $1,331,000 Paid-in Capi…
On January 1, 2017, Grouper Corporation granted 1,800 shares of restricted $5 pa
On January 1, 2017, Grouper Corporation granted 1,800 shares of restricted $5 par value common stock to executives. The market price (fair value) of the stock is $69 per share on …
On January 1, 2017, Harter Company had Accounts Receivable $140,700, Notes Recei
On January 1, 2017, Harter Company had Accounts Receivable $140,700, Notes Receivable $33,600, and Allowance for Doubtful Accounts $22,900. The note receivable is from Willingham …
On January 1, 2017, Harter Company had Accounts Receivable $142,400, Notes Recei
On January 1, 2017, Harter Company had Accounts Receivable $142,400, Notes Receivable $42,000, and Allowance for Doubtful Accounts $30,000. The note receivable is from Willingham …
On January 1, 2017, Holland Corporation paid $7 per share to a group of Zeeland
On January 1, 2017, Holland Corporation paid $7 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeeland's outstanding voting stock, representi…
On January 1, 2017, Holland Corporation paid $9 per share to a group of Zeeland
On January 1, 2017, Holland Corporation paid $9 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeeland's outstanding voting stock, representi…
On January 1, 2017, Holland Corporation paid $9 per share to a group of Zeeland
On January 1, 2017, Holland Corporation paid $9 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeeland's outstanding voting stock, representi…
On January 1, 2017, Irwin Animation sold a truck to Peete Finance for $35,000 an
On January 1, 2017, Irwin Animation sold a truck to Peete Finance for $35,000 and immediately leased it back. The truck was carried on Irwin’s books at $28,000. The term of the le…
On January 1, 2017, Irwin Animation sold a truck to Peete Finance for $35,000 an
On January 1, 2017, Irwin Animation sold a truck to Peete Finance for $35,000 and immediately leased it back. The truck was carried on Irwin’s books at $28,000. The term of the le…
On January 1, 2017, Ivanhoe Ltd. had 500,000 common shares outstanding. During 2
On January 1, 2017, Ivanhoe Ltd. had 500,000 common shares outstanding. During 2017, it had the following transactions that affected the common share account: Feb. 1 Issued 157,00…
On January 1, 2017, Kingbird Co. leased a building to Blossom Corp. The relevant
On January 1, 2017, Kingbird Co. leased a building to Blossom Corp. The relevant information related to the lease is as follows. 1. The lease arrangement is for 5 years. The build…
On January 1, 2017, Kingbird Company issued 10-year, $1,880,000 face value, 6% b
On January 1, 2017, Kingbird Company issued 10-year, $1,880,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Kingbird common stock. Kingbird’s n…
On January 1, 2017, Lamar Corp. (CAD) purchased 80% of Martin Inc, an American c
On January 1, 2017, Lamar Corp. (CAD) purchased 80% of Martin Inc, an American company, for US$50,000. Martin's book values approximated its fair values on that date except for pl…
On January 1, 2017, Larkspur Corporation issued $4,020,000 of 10-year, 8% conver
On January 1, 2017, Larkspur Corporation issued $4,020,000 of 10-year, 8% convertible debentures at 104. Interest is to be paid semiannually on June 30 and December 31. Each $1,00…
On January 1, 2017, Larkspur Corporation issued $4,020,000 of 10-year, 8% conver
On January 1, 2017, Larkspur Corporation issued $4,020,000 of 10-year, 8% convertible debentures at 104. Interest is to be paid semiannually on June 30 and December 31. Each $1,00…
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to op
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to operate as a franchisee of Pina Inc. for an initial franchise fee of $40,000. The amount of $8,000 wa…
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to op
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to operate as a franchisee of Pina Inc. for an initial franchise fee of $40,000. The amount of $8,000 wa…
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to op
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to operate as a franchisee of Ayayai Inc. for an initial franchise fee of $55,000. The amount of $8,000 …
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to op
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to operate as a franchisee of Kingbird Inc. for an initial franchise fee of $46,000. The amount of $9,00…
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to op
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to operate as a franchisee of Kingbird Inc. for an initial franchise fee of $46,000. The amount of $9,00…
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to op
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to operate as a franchisee of Kingbird Inc. for an initial franchise fee of $46,000. The amount of $9,00…
On January 1, 2017, Lock Corporation issued $1,800,000 face value, 5%, 10-year b
On January 1, 2017, Lock Corporation issued $1,800,000 face value, 5%, 10-year bonds at $1,667,510. This price resulted in an effective-interest rate of 6% on the bonds. The bonds…
On January 1, 2017, Loud Company enters into a 2-year contract with a customer f
On January 1, 2017, Loud Company enters into a 2-year contract with a customer for an unlimited talk and 5 GB data wireless plan for $65 per month. The contract includes a smartph…
On January 1, 2017, Love Inc. issued $200,000, 20-year, 5% bonds at 102. Interes
On January 1, 2017, Love Inc. issued $200,000, 20-year, 5% bonds at 102. Interest is payable semiannually on January 1 and July 1. The journal entry to record this transaction on …
On January 1, 2017, MM Co. borrows $290,000 cash from a bank and in return signs
On January 1, 2017, MM Co. borrows $290,000 cash from a bank and in return signs an 4% installment one for five annual payments of $65,142 each, with the first payment due one yea…
On January 1, 2017, MM Co. borrows $430,000 cash from a bank and in return signs
On January 1, 2017, MM Co. borrows $430,000 cash from a bank and in return signs an 4% installment note for five annual payments of $96,590 each with the first payment due one yea…
On January 1, 2017, Marigold Corp. issued eight-year bonds with a face value of
On January 1, 2017, Marigold Corp. issued eight-year bonds with a face value of $5920000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bo…
On January 1, 2017, Marin Co. leased a building to Cullumber Inc. The relevant i
On January 1, 2017, Marin Co. leased a building to Cullumber Inc. The relevant information related to the lease is as follows. 1. The lease arrangement is for 10 years. The buildi…
On January 1, 2017, Marin Co. leased a building to Cullumber Inc. The relevant i
On January 1, 2017, Marin Co. leased a building to Cullumber Inc. The relevant information related to the lease is as follows. 1. The lease arrangement is for 10 years. The buildi…
On January 1, 2017, Marin Co. leased a building to Cullumber Inc. The relevant i
On January 1, 2017, Marin Co. leased a building to Cullumber Inc. The relevant information related to the lease is as follows. 1. The lease arrangement is for 10 years. The buildi…
On January 1, 2017, Marin Co. leased a building to Headland Inc. The relevant in
On January 1, 2017, Marin Co. leased a building to Headland Inc. The relevant information related to the lease is as follows. 1. The lease arrangement is for 10 years. 2. The leas…
On January 1, 2017, Marin Company purchased 9% bonds having a maturity value of
On January 1, 2017, Marin Company purchased 9% bonds having a maturity value of $250,000, for $270,502.00. The bonds provide the bondholders with a 7% yield. They are dated Januar…
On January 1, 2017, Marin Corporation issued $690,000 of 9% bonds, due in 10 yea
On January 1, 2017, Marin Corporation issued $690,000 of 9% bonds, due in 10 years. The bonds were issued for $647,006, and pay interest each July 1 and January 1 Marin uses the e…
On January 1, 2017, Martinez Company issued 10-year, $2,010,000 face value, 6% b
On January 1, 2017, Martinez Company issued 10-year, $2,010,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Martinez common stock. Martinez’s n…
On January 1, 2017, Martinez Company purchased 12% bonds having a maturity value
On January 1, 2017, Martinez Company purchased 12% bonds having a maturity value of $270,000, for $290,470.00. The bonds provide the bondholders with a 10% yield. They are dated J…
On January 1, 2017, Martinez Company purchased 13% bonds, having a maturity valu
On January 1, 2017, Martinez Company purchased 13% bonds, having a maturity value of $279,000, for $299,622.84. The bonds provide the bondholders with a 11% yield. They are dated …
On January 1, 2017, Metlock Co. leased a building to Ivanhoe Inc. The relevant i
On January 1, 2017, Metlock Co. leased a building to Ivanhoe Inc. The relevant information related to the lease is as follows. The lease arrangement is for 10 years. The building …
On January 1, 2017, Metlock Co. leased a building to Ivanhoe Inc. The relevant i
On January 1, 2017, Metlock Co. leased a building to Ivanhoe Inc. The relevant information related to the lease is as follows. 1. The lease arrangement is for 10 years. The buildi…
On January 1, 2017, Metlock, Inc. had these stockholders equity balances. Common
On January 1, 2017, Metlock, Inc. had these stockholders equity balances. Common Stock, $1 par (2,000,000 shares authorized, 625,000 shares issued and outstanding) Paid-in Capital…
On January 1, 2017, Monty Company makes the two following acquisitions. 1. Purch
On January 1, 2017, Monty Company makes the two following acquisitions. 1. Purchases land having a fair value of $250,000 by issuing a 4-year, zero-interest-bearing promissory not…
On January 1, 2017, Monty Corporation signed a 5-year noncancelable lease for a
On January 1, 2017, Monty Corporation signed a 5-year noncancelable lease for a machine. The terms of the lease called for Monty to make annual payments of $8,148 at the beginning…
On January 1, 2017, Muddle Inc. entered into an agreement to lease equipment fro
On January 1, 2017, Muddle Inc. entered into an agreement to lease equipment from Albert Corporation. The lease agreement requires five annual rental payments of $90,000 beginning…
On January 1, 2017, Nash Corporation purchased 40% of the common shares of Crane
On January 1, 2017, Nash Corporation purchased 40% of the common shares of Crane Company for $185,000. During the year, Crane earned net income of $91,000 and paid dividends of $2…
On January 1, 2017, Nelson Co. leased a building to Wise Inc. The relevant infor
On January 1, 2017, Nelson Co. leased a building to Wise Inc. The relevant information related to the lease is as follows: The lease arrangement is for 10 years. The building is e…
On January 1, 2017, Novak Company sold 11% bonds having a maturity value of $470
On January 1, 2017, Novak Company sold 11% bonds having a maturity value of $470,000 for $487,816, which provides the bondholders with a 10% yield. The bonds are dated January 1, …
On January 1, 2017, Ott Co.sold goods to Flynn Company. Flynn signed a zero-inte
On January 1, 2017, Ott Co.sold goods to Flynn Company. Flynn signed a zero-interest-bearing note requiring payment of $ 200000 annually for seven years. The first payment was mad…