11. Adventure Inc.'s total stockholders’ equity
balance was $40,000 on 12.31.20. During 2020 the firm had...
11. Adventure Inc.'s total stockholders’ equity
balance was $40,000 on 12.31.20. During 2020 the firm had a net
loss of $8,000, paid $6,000 in dividends, and sold an additional
$7,000 of common stock. The 1.1.20 balance of total stockholders’
equity was:______________
12. Cash received from selling building and land no longer used by
a manufacturing company is reported within what section of a
statement of cash flows:
a. Operating Activities
b. Investing Activities
c. Financing Activities
13. If a firm's...
Cullumber Inc., a publicly accountable enterprise that reports
in accordance with IFRS, issued convertible bonds for...
Cullumber Inc., a publicly accountable enterprise that reports
in accordance with IFRS, issued convertible bonds for the first
time on January 1, 2020. The $1 million of six-year, 10% (payable
annually on December 31, starting December 31, 2020), convertible
bonds were issued at 109. The bonds would have been issued at 98
without a conversion feature, and yielded a higher rate of return.
The bonds are convertible at the investor’s option.
The company’s bookkeeper recorded the bonds at 109 and,...
Asha Inc.’s financial statements for its year ended December 31,
20X8, follow:
Asha Inc.
Statement of...
Asha Inc.’s financial statements for its year ended December 31,
20X8, follow:
Asha Inc.
Statement of financial
position
as at December 31, 20X8
20X8
20X7
Assets
Cash and cash equivalent
$94,000
$123,000
Accounts receivable (net)
114,000
111,500
FVOCI investments
15,000
12,000
Inventory
69,000
73,800
Prepaid expenses
15,000
11,700
Property, plant, and equipment (PPE), net
622,000
425,000
Trademark
48,000
63,000
$977,000
$820,000
Liabilities and shareholder equity
Accounts payable
$62,100
$57,500
Income taxes payable
21,100
19,000
Dividends payable
15,000
18,000
Bank loan...
Asha Inc.’s financial statements for its year ended December 31,
20X8, follow:
Asha Inc.
Statement of...
Asha Inc.’s financial statements for its year ended December 31,
20X8, follow:
Asha Inc.
Statement of financial
position
as at December 31, 20X8
20X8
20X7
Assets
Cash and cash equivalent
$94,000
$123,000
Accounts receivable (net)
114,000
111,500
FVOCI investments
15,000
12,000
Inventory
69,000
73,800
Prepaid expenses
15,000
11,700
Property, plant, and equipment (PPE), net
622,000
425,000
Trademark
48,000
63,000
$977,000
$820,000
Liabilities and shareholder equity
Accounts payable
$62,100
$57,500
Income taxes payable
21,100
19,000
Dividends payable
15,000
18,000
Bank loan...
Asha Inc.’s financial statements for its year ended December 31,
20X8, follow:
Asha Inc.
Statement of...
Asha Inc.’s financial statements for its year ended December 31,
20X8, follow:
Asha Inc.
Statement of financial
position
as at December 31, 20X8
20X8
20X7
Assets
Cash and cash equivalent
$94,000
$123,000
Accounts receivable (net)
114,000
111,500
FVOCI investments
15,000
12,000
Inventory
69,000
73,800
Prepaid expenses
15,000
11,700
Property, plant, and equipment (PPE), net
622,000
425,000
Trademark
48,000
63,000
$977,000
$820,000
Liabilities and shareholder equity
Accounts payable
$62,100
$57,500
Income taxes payable
21,100
19,000
Dividends payable
15,000
18,000
Bank loan...