Ch 13 - Homework
Q1) On December 31, 2007, Gibson Company has $18,200,000 of short-term debt in the form of notes
payable to Blue Lagoon State Bank due in 2008. On January 28, 2008, Gibson enters into a refinancing
agreement with Blue Lagoon that will per
Q1)Overland Corporation is authorized to issue 250,000 shares of $1 par value common stock. During 2007, Overland Corporation took part in the following selected transactions. 1.Issued 55,000 shares of stock at $76 per share, less costs related to
Q2) The stockholders equity accounts of Palmetto Company have the following balances on December 31, 2007.
Common stock, $1 par, 1,500,000 shares issued and outstanding Paid-in capital in excess of par Retained earnings $ 1,500,000 6,900,000 25,750,000
Q1 Foster Corporation purchased a new machine for its assembly process on August 1, 2007. The cost of this machine was $235,800. The company estimated that the machine would have a trade-in value of $25,800 at the end of its service life. I
Wayne State University ACC 5110 Exam I Winter 2010
ANSWER SHEET NAME_KEY_ MULTIPLE CHOICE ANSWERS: 1) A 6) B 11) A (or C) 16) A 2) B 7) C 12) C 17) A 3) C 8) C 13) A 18) D 4) D 9) B 14) A 19) C 5) C 10) C 15) C 20) C
Problem 1 (15 points)
On July 1, 2006,
ACC 5110 QUIZ 4 Name: Part I. Choose the best answer. 1. Which of the following is a current liability? KEY
a. A long-term debt maturing currently, which is to be paid with cash in a sinking fund b. A long-term debt maturing currently, which i
The Marketing Environment
GENERAL CONTENT: Multiple-Choice Questions
1. The most commercially influential demographic group in history is _.
a. Generation X
b. baby boomers
c. Generation Y
(Answer: b; p. 70; Easy)
2. All of
Wayne State University School of Business Administration ACC 5110 Intermediate Financial Accounting II Winter 2010
Tuesday / Thursday: 11:45-1:10 Room: 0017 Prentis
Professor: Cheol Lee, Ph.D. Telephone: (313) 577-2242 (office) Office: 207 Rands House E-m
Wayne State University ACC 5110 Exam II Winter 2010
ANSWER SHEET NAME_ MULTIPLE CHOICE ANSWERS: 1) C 6) A 11) C 16) C 2) B 7) B 12) A 17) D 3) C 8) A 13) D 18) C 4) D 9) A 14) B 19) B 5) D 10) D 15) B 20) D
Problem 1 (10 points) Described below are certai
Q1) Overland Corporation is authorized to issue 250,000 shares of $1 par value common stock. During
2007, Overland Corporation took part in the following selected transactions.
1. Issued 55,000 shares of stock at $76 per share, less costs related
ACC 5110 Name: Part I. Choose the best answer. 1. Treasury shares are a. shares held as an investment by the treasurer of the corporation. b. shares held as an investment of the corporation. c. issued and outstanding shares. d. issued but not outstanding
Early in 2007, Maley Corporation engaged Reese, Inc. to design and construct a complete modernization of Maley's manufacturing facility. Construction was begun on June 1, 2007 and was completed on December 31, 2007.
Present value of the principal
$2,000,000 X .38554 (PV10, 10%).
Present value of the interest payments
$210,000* X 6.14457 (PVOA10, 10%).
Present value (selling price of the bonds).
*$2,000,000 X 10.5% = $21
Ch 14 Homework
Q1) The following amortization and interest schedule reflects the issuance of 3-year bond by
Gerona Company on January 1, 2009. However, the schedule is not completely prepared. Interest
is payable on June 30, and December 31. The company u
Accounting Cycle Project
Transaction Practice Set B&G Music
ACC5100 & 7040 - Fall 2016 - Prof Chung
You have been hired as an accountant for B&G Co., a corporation performing
diverse consulting services in Detroit, Michigan. B&G Co. prepares financial
(a) May 1, 2017
No entry neither party has performed on May 1, 2017.
(b) May 15, 2017
Unearned Sales Revenue.
(c) May 31, 2017
Unearned Sales Revenue.
Cost of Goods Sold.