Financial Accounting

1) Read the case of Air Products & Chemicals Inc v. Airgas inc. on pp. 808-809.

1) Read the case of Air Products & Chemicals Inc v. Airgas inc. on pp. 808-809. a) How was a tender offer effectuated here by Air products? b) What takeover defense was employ…

1) Recher Corporation\'s common stock has a par value of $3 per share and has be

1) Recher Corporation's common stock has a par value of $3 per share and has been stable at a total value of $270,000 on the company's balance sheet for several years. The total s…

1) Record the foreign sale and foreign currency receivable 2) Record the entry t

1) Record the foreign sale and foreign currency receivable 2) Record the entry to revalue the foreign currency receivable to the U.S. dollar equivalent value. 3) Record the entry …

1) Red Co. had the following transactions through December 31: What amount shoul

1) Red Co. had the following transactions through December 31: What amount should Red report as net cash used by investing activities in its statement of cash flows for the period…

1) Remsen Company issues 10-year bonds, as follows: Bonds are dated to be issued

1) Remsen Company issues 10-year bonds, as follows: Bonds are dated to be issued on: Bonds are issued on Par value of bonds: Stated annual interest rate: Semiannual interest payme…

1) Reporting Issuance and Retirement of Long-Term Debt On the basis of the detai

1) Reporting Issuance and Retirement of Long-Term Debt On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported …

1) Required Create Journal Entries with following data. 2) Prepare T-Accounts wi

1) Required Create Journal Entries with following data. 2) Prepare T-Accounts with data (Started but some incorrect) Cuevana Blackboard 3 Lubricants, Inc, departments-Refining pro…

1) Rice, Hepburn, and DiMacro formed a partnership with Rice contributing $60,00

1) Rice, Hepburn, and DiMacro formed a partnership with Rice contributing $60,000, Hepburn contributing $50,000 and DiMacro contributing $40,000. Their partnership agreement calle…

1) Ruben Company purchased $100,000 of Evans Company bonds at 100 plus $1,500 in

1) Ruben Company purchased $100,000 of Evans Company bonds at 100 plus $1,500 in accrued interest. The bond interest rate is 8% and interest is paid semi-annually. The journal ent…

1) Sales: $36,480,000 Net Operating Income: $2,808,960 Average operating assets:

1) Sales: $36,480,000 Net Operating Income: $2,808,960 Average operating assets: $8,000,000 The company's minimum required rate of return: 16% The divisions margin used to compute…

1) Sara Smith plans to have $50 withheld from her monthly paycheck and deposited

1) Sara Smith plans to have $50 withheld from her monthly paycheck and deposited in a savings account that earns 12% annually, compounded monthly. If Malone continues with her pla…

1) Security & E-Business List 5 different types of security issues that may conf

1) Security & E-Business List 5 different types of security issues that may confront a Small Business Enterprises (not all are internet based). Discuss some proactive security…

1) Sedano’s Supermarket has prepared the following segmented income statement fo

1) Sedano’s Supermarket has prepared the following segmented income statement for three of its departments in it’s flagship store in late 2006. Agustin Herrán is contemplating dro…

1) Selected comparative statement data for Queen Products Company are presented

1) Selected comparative statement data for Queen Products Company are presented below. All balance sheet data are as of December 31. 2017 2016 Compute the following ratios for 201…

1) Shotsky Enterprises allocates MOH based on direct labor hours. If MOH is over

1) Shotsky Enterprises allocates MOH based on direct labor hours. If MOH isoverapplied, the most likely reason is that _____________. the actual direct labor hours worked exceeded…

1) Show entries in general journal form for the following transactions of Bothwe

1)     Show entries in general journal form for the following transactions of    Bothwell Regional Hospital, a not-for-profit hospital.1) For the month just ended the hospital rec…

1) Si el inventario inicial es de $60,000, el costo de los bienes comprados es $

1) Si el inventario inicial es de $60,000, el costo de los bienes comprados es $380,000, y el inventario final es de $50,000, entonces el costo de los bienes vendidos es de: a. $3…

1) Simpson Auto Body Repair purchased $20,000 of Machinery. The company paid $8,

1) Simpson Auto Body Repair purchased $20,000 of Machinery. The company paid $8,000 in cash at the time of the purchase and signed a promissory note for the remainder to be paid i…

1) Simpson Auto Body Repair purchased $20,000 of Machinery. The company paid $8,

1) Simpson Auto Body Repair purchased $20,000 of Machinery. The company paid $8,000 in cash at the time of the purchase and signed a promissory note for the remainder to be paid i…

1) Sir Francis Galton, a cousin of James Darwin, examined the relationship betwe

1) Sir Francis Galton, a cousin of James Darwin, examined the relationship between the height of children and their parents towards the end of the 19th century. You decide to upda…

1) Smaller Corporation has been in operation for several years. Each year, aroun

1) Smaller Corporation has been in operation for several years. Each year, around the holidays, Smaller gives a cash bonus to each of its employees and records the bonuses as comp…

1) Southwest Tours Co. is a travel agency. The nine transactions recorded by Sou

1) Southwest Tours Co. is a travel agency. The nine transactions recorded by Southwest Tours during April 2014, its first month of operations, are indicated in the following T acc…

1) Sperle Corporation has provided the following data concerning its stockholder

1) Sperle Corporation has provided the following data concerning its stockholders' equity accounts:                                                                Year 1         Y…

1) Standard costs for company products are typically used for all except which o

1) Standard costs for company products are typically used for all except which of the following? Question 1 options: Variance analysis and cost control Computing production costs …

1) Started the business by issuing $7,420 of common stock forcash. 2) The compan

1) Started the business by issuing $7,420 of common stock forcash. 2) The company paid cash to purchase $4,560 of inventory. 3) The company sold inventory that cost $3,030 for $7,…

1) Stoneridge charges you $2,500 rent per month, which includes utilities, telep

1) Stoneridge charges you $2,500 rent per month, which includes utilities, telephone, cleaning, and maintenance. You estimated that 90% of the rent was related to factory operatio…

1) Sue is a 50% partner in a coffee kiosk. Per the partnership agreement, Sue re

1) Sue is a 50% partner in a coffee kiosk. Per the partnership agreement, Sue received a guaranteed payment for this year of $20,000 for the work that she did running the coffee s…

1) Suppose a financial market analyst knows that Pandemonium, Inc. will be in bu

1) Suppose a financial market analyst knows that Pandemonium, Inc. will be in business for at least five years and have the following cash flows per share: Year 1 Year 2 Revenue $…

1) Suppose that Dunn Industries has annual sales of $4.05 million, cost of goods

1) Suppose that Dunn Industries has annual sales of $4.05 million, cost of goods sold of $1,580,000, average inventories of $1,046,000, and average accounts receivable of $680,000…

1) Suppose the income statement for Goggle Company reports $115 of net income, a

1) Suppose the income statement for Goggle Company reports $115 of net income, after deducting depreciation of $30. The company bought equipment costing $85 and obtained a long-te…

1) Suppose the total benefit derived from a given decision, Q, is B(Q) = 29Q - Q

1)     Suppose the total benefit derived from a given decision, Q, is B(Q) = 29Q - Q2 and the corresponding cost is C(Q) = 2 + 2 Q2 .   a.     Find the marginal benefit and the ma…

1) Sweet Company’s outstanding stock consists of 1,600 shares of cumulative 4% p

1) Sweet Company’s outstanding stock consists of 1,600 shares of cumulative 4% preferred stock with a $100 par value and 11,600 shares of common stock with a $10 par value. During…

1) TRUE or FALSE ( Explain the answer succinctly but completely). Please use gra

1) TRUE or FALSE ( Explain the answer succinctly but completely). Please use graph to aid your explanation and ensure your text describes what your graph shows and how the differe…

1) TRUE or FALSE A 12-employee executive recruiting firm making $750,000 per yea

1) TRUE or FALSE A 12-employee executive recruiting firm making $750,000 per year would be a small business 2) Which of the following is one of the main reasons that small busines…

1) Tanya and Nancy, both calendar-year taxpayers, each own a 20% interest in Par

1) Tanya and Nancy, both calendar-year taxpayers, each own a 20% interest in Partnership TNT. Techron, Inc., whose fiscal year ends on June 30, 2016, owns a 60% interest in Partne…

1) Target is considered a __Merchandizing_ type of business. a. Manufacturing b.

1) Target is considered a __Merchandizing_ type of business. a. Manufacturing b. Merchandizing c. not-for-profit d. service 2) Under this concept, business activities are kept sep…

1) The 2007 and 2008 balance sheets for Alan Jack and Sons showed net accounts r

1) The 2007 and 2008 balance sheets for Alan Jack and Sons showed net accounts receivable of $10,000 and $14,000, respectively, and inventory of $8,000 and $6,000, respectively. T…

1) The 2008 financial statements for Fay Thill Country Stores show total assets

1) The 2008 financial statements for Fay Thill Country Stores show total assets of $490,000, total liabilities of $290,000, net sales of $1,800,000, net income of $450,000, income…

1) The Applicable Credit Amount is claimed on: A) Page 1 of Form 706, directly.

1) The Applicable Credit Amount is claimed on: A) Page 1 of Form 706, directly. B) Page 5 of Form 706, directly. C) Form 706, Schedule P. D) Form 706, Schedule Q. 2) For purposes …

1) The CVP income statement classifies costs as variable or fixed and computes a

1) The CVP income statement classifies costs as variable or fixed and computes a contribution margin. True or False 2) In CVP analysis, cost includes manufacturing costs but not s…

1) The Central Stores Fund of Cook City provides centralized management of purch

1)     The Central Stores Fund of Cook City provides centralized management of purchasing, storage, and issue of supplies for the entire City. For the following summarized transac…

1) The Hassan Corporation has an electric mixer division and an electric lamp di

1) The Hassan Corporation has an electric mixer division and an electric lamp division. Of a $20,000,000 bond issuance, the electric mixer division used $14,000,000 and the electr…

1) The Liquidity ratios indicate if a company: a) can earn a satisfactory rate o

1) The Liquidity ratios indicate if a company: a) can earn a satisfactory rate of return. b) can pay bills that are currently due. c) can pay their bills in the long term. d) has …

1) The Molding Department of Truong Company has the following - production data:

1) The Molding Department of Truong Company has the following - production data: beginning (Bl) inventory 25000 units (60% complete) started into (IN) production 425,000 units, co…

1) The Orange Company provided $60,000 of services on account during 2015, its f

1) The Orange Company provided $60,000 of services on account during 2015, its first year in operation. During 2015 Morgan collected $40,000 of cash from its accounts receivable a…

1) The Pukie-Duke Company asked you to determine some of the after-tax cash flow

1) The Pukie-Duke Company asked you to determine some of the after-tax cash flows for equipment used for research and development that is being considered. PDC expects the experim…

1) The Retained Earnings balance was $23,500 on January 1. Net income for the ye

1) The Retained Earnings balance was $23,500 on January 1. Net income for the year was $19,000. If Retained Earnings had a credit balance of $25,000 after closing entries were mad…

1) The Speed Company issues an additional 10 000 preferred share for cash at $45

1) The Speed Company issues an additional 10 000 preferred share for cash at $45.00 per share. The shares were issued with $30.00 payable on application and $15.00 on allotment. T…

1) The Svelte Jeans Company produces two different types of jeans. One is called

1) The Svelte Jeans Company produces two different types of jeans. One is called the Simple Life and the other is called the Fancy Life. The company sales budget estimates that 35…

1) The Tony Hawk Skate Park was built in early 2016. The construction was financ

1) The Tony Hawk Skate Park was built in early 2016. The construction was financed by $10 million of 5% bonds issued at face value, due in 10 years, with interest payable on June …