Schus Inc. Issued $3,000,000 of 10%, 10 year covertible bonds on June 1, 2012 at 98 plus accrued interest. The bonds were dated April 1, 2012 with interest payable April 1 and October 1.
Waubansee Corp. uses the direct method to prepare its statement of cash flows. Releveant balances for Waubansee at December 31, 2012 and 2011, are as follows.
(Acquisition Costs of Trucks)
Shabbona Corporation operates a retail computer store. To improve delivery services to customers,
the compnay purchases four new trucks on April 1, 2012. The terms fo acquisition for each truck
As loan analyst for Madison Bank, you have been presnted the following informtion.
Total current assets
Liabilities and S
Keystone Corporation issued its financial statements for the year ended December 31, 2012, on March 10, 2013. The following events took place early place early in 2013.
Discuss how the preceeding p
Shaw Company sells goods that cost $300,000 to Ricard Company for $410,000 on January 2, 2012. The sales price includes an installation fee, whis is valued at $40,000
The fair value of the goods is $370,
Exercise 13-1: Balance sheet classification of various liabilities, page 755
How would each of the following items be reported on the balance sheet?
a) Accrued vacation pay
b) Estimated taxes payable
c) Service warranties on appliance sales.
d) Bank overd
Riegel Company uses the lower-of cost -or market method ,on an individual-item basis, in pricing its inventory items. The inventory at
December 31, 2013, consists of products D,E,F,G,H, and I. Relevant per unit data for thes
E-13-11 (Warranties) Selzer Equipment Company sold 500 Rollomatics during 2012 at $6,000 each. During 2012, Selzer
spent $30,000 servicing the 2-year warranties that accompany the Rollomatic. All applicable transactions are a cash basis.
Whitman Company began operations on January 1, 2010, and uses the average cost method of pricing inventory. Management is contemplating a change in inventory methods for 2013.
The following informatio
Ex 14-1 Classification of liabilities, page 820
Presented below are various acount balances.
Indicate whether each of the items above should be classified on December on 31, 2013, as a current liability, a long-term liability, or under
Samuels Co. appropriately uses the installment sales method of accounting. On Decmeber 31, 2014, the books show the balances as follows.