Intermediate Accounting Study Guide for Final Examination-1

Intermediate Accounting Study Guide for Final Examination-1...

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Intermediate Accounting Study Guide for the Final Examination Here are quite a few study guide items that were taken from a bank of 100 possible questions that was setup for this final examination. Please note that all student tests will be selected at random and some of these questions may or may be on your exam. But this will give a general area of what you should be studying to prepare yourself for this final testing. Class ~ Please make sure to do some research on all these items listed below: What is capitalization of an expense? On March 2, 2008, Ross Corporation issued 4,000 shares of 6 percent cumulative \$100 par value preferred stock for \$434,000. Each preferred share carried one nondetachable stock warrant which entitled the holder to acquire, at \$17, one share of Ross \$10 par common stock. On March 2, 2008, the market price of the preferred stock (without warrants) was \$90 per share and the market price of the stock warrants was \$15 per warrant. The amount credited to Paid-In Capital in Excess of Par-Preferred by Ross on the issuance of the stock was? When the interest payment dates of a bond are May 1 and November 1, and the bond is issued on June 1, the amount of interest expense at December 31 of the year of issuance would be for? Outstanding bonds payable are converted into common stock. Under either the book value or market value method, the same amount would be debited to? What would be true of a premium on bonds payable? The total interest expense on a \$200,000, 10 percent, 10-year bond issued at 95 would be? Assuming the straight-line method of amortization is used, the average yearly interest expense on a \$250,000, 11 percent, 20-year bond issued at 94 would be? If a \$1,000, 9 percent, 10-year bond was issued at 103 plus accrued interest one month after the authorization date, how much cash did the issuer receive? Authorized to issue \$200,000 of 10 percent, 20-year bonds dated January 1, 2008, with interest payable on January 1 and July 1 of each year. What would be the amount?

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If the bonds were issued on April 1, 2008, the amount of accrued interest on the date of sale is? On December 31, 2008, Carlton Corporation's current liabilities total \$50,000 and long-term liabilities total \$150,000. Working capital at December 31, 2008, is equal to \$80,000. If Carlton Corporation's debt-to-equity ratio is .32 to 1, total long-term assets must equal? Make sure to work out an answer for these multiple choice questions listed below
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This note was uploaded on 05/29/2011 for the course EC 2011 taught by Professor Johnson during the Spring '11 term at FIT.

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Intermediate Accounting Study Guide for Final Examination-1...

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