• $4,072. • $6,100. • $4,100. Multiple Choice Question 198 Given the following account balances at year end, compute the total intangible assets on the balance sheet of Janssen Enterprises. Cash $1,500,000 Accounts Receivable 4,000,000 Trademarks 1,000,000 Goodwill 2,500,000 Research & Development Costs 2,000,000 • $7,500,000.
ACCT 3001 Job Order Costing The December 31, 2009, balance sheet of Danko Corp. is presented below: Danko Corp. Balance sheet December 31, 2009 Cash $12,000 Accounts Payable $5,000 Building & Equip. 20,000 Common Stock 10,000 Accum. Deprec. (4,000) Retained Earnings 13,000 $28,000 $28,000 During 2010, the following events occurred: 1. Danko purchased, on account, raw materials for $1,600, and used $1,300 in production.
Three months later, Lynn sold 3,000 of these shares at $19 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 3,000 treasury shares, Lynn should credit a. Treasury Stock for $57,000. b. Treasury Stock for $30,000 and Paid-in Capital from Treasury Stock for $27,000.
$4.0 million e. If operating capital in the previous year was $24 million, what was the company’s free cash flow (FCF) for the year? $2.0 million f. What was the company’s economic value added? $500,000 2. As an institutional investor paying a marginal tax rate of 46%, your after-tax dividend yield on preferred stock with a 16% before-tax dividend yield would be: 14.9% 3. A 7% coupon bond issued by the state of New York sells for $1,000 and thus provides a 7% yield to maturity.
Problem 1-20 Effect of product versus period costs on financial statements Hoen Manufacturing Company experienced the following accounting events during its first year of operation. With the exception of the adjusting entries for depreciation, assume that all transactions are cash transactions. 1. Acquired $50,000 cash by issuing common stock. 2.
2. Question 2: During the first month of operation, Brady Brothers made sales to customers totaling $12,000 but received only $6,000 from customers in cash. Brady Brothers incurred $8,000 for operating expenses but only paid $5,000 in cash for those expenses. What was Brady Brothers cash basis income? Cash-based income: Revenues Received $6,000 Less expenses paid $5,000 = Income $1,000 3.
It is acquired in exchange for 1,000 shares of common stock in Shabbona Corporation. The stock has a par value per share of $10 and a market price of $13 per share Shabbona Account Titles 1. 2. Debit Truck # 1 Cash Truck #2 Discount on Notes Payable $ Credit 13,900.00 $ $ $ ** $ $ 13,900.00 2,000.00 18,000.00 18,364.00 1,636.00 Cash Notes Payable PV of $18000 @ 10% for 1 year (PV of Single sum 10%, 1 year $14,000) = $18,000*.90909= $16363.62 rnd $16,364 16,634 + $2,000= $18,364 ** 3. 4.
. 300,000 If total assets decreased $80,000 and stockholders' equity increased $120,000 during the year, what is the amount of total liabilities at the end of the year? 2. 600,000 At the beginning of the year, Gonzales Company had total assets of $870,000 and total liabilities of $500,000. Answer the following questions.
During 2007 and 2008 Stator reported Net Income of $25,000 and $15,000 and paid dividends $10,000 and $12,000, respectively. Rotor uses the equity method a. What amount of differential will be amortized annually b. What will be the balance in the investment account on Dec 31, 2007? c. What amount of investment income will be reported by Rotor for the year 2007?
Product Revenue, Utility Expense, Supplies Expense c. Utility Expense, Supplies Expense d. Product Revenue, Utility Expense, Supplies Expense 3. 1) The company previously collected $1,500 as an advance payment for services to be rendered in the future. By the end of December, one half of this amount had been earned. a. B. adjustment of an unearned revenue MM-DD-YY | Cash | | | $ 1,500 | | | Unearned Revenue | | $ 1,500 | | Advance collection from client | | | 12-31-YY | Unearned Revenue | | $ 750 | | | Revenue | | | $ 750 | | Adjusting entry for earned portion of prepayment | b. c. Increase total revenue by $750 2) Sally Corporation provided $1,500 of services to Artech Corporation; no billing had been made by December 31. a. D. adjustment to record an accrued revenue 12-31-YY | Accounts Receivable | | $ 1,500 | | | Revenue | | | $ 1,500 | | Adjusting entry to reflect services provided | | b. C. Increase total revenue by $1,500 3) Salaries owed to employees at year-end amounted to $1,000.