Accounting Assignment – all questions that require calculations

Accounting

Please melody that you are demandd to suggest supported calculations on aggregate interrogations that demand calculations. Some interrogations do referable demand calculations.

Select the best response ce the subjoined interrogations. Each interrogation is compute 5 points.
Interrogation 1
A cetification has the subjoined recital adjusts: Sordid Fund, $10 par compute, $740,000; Hired-in Important in Debauchery of Par, $1,850,000. Based on this counsel, the _______________.
Interrogation 1 discretions:
juridical important is $2,590,000

shares chattelsd are 1,850,000

shares uncollected are 740,000

juridical important is $740,000

Save
Interrogation 2
On January 2, 2015, Easton Cetification chattelsd 50,000 distributes of 5% cumulative preferred fund at $100 par compute. No dividends accept been hired to any distributeholders past the cemation of the cetification. Management wants to chattels a dividpurpose to sordid distributeholders on December 31, 2016. What dividpurpose equality, if any, must be hired to the preferred fundholders entitled antecedently any distribution is made to sordid fundholders?
Interrogation 2 discretions:
$0

$500,000

$250,000

$125,000

Save
Interrogation 3
The Frederick Order has 100,000 distributes of $5 par sordid fund uncollected. Management declares (referable unyieldings) a 10% fund dividend. The trade compute of a distribute of sordid fund was $32 presently antecedent to the fund dividpurpose statement. The life chronicles is:
Interrogation 3 discretions:
liability retained rights, $320,000; trustworthiness fund dividpurpose distributable, $10,000; trustworthiness hired in important in debauchery of par, $310,000.

liability retained rights, $320,000; trustworthiness fund dividpurpose distributable, $50,000; trustworthiness hired in important in debauchery of par, $270,000.

liability fund dividends distributable, $320,000; trustworthiness sordid fund, $320,000.

liability fund dividends distributable, $50,000; trustworthiness sordid fund, $50,000.

Interrogation 4
Cambridge Hat Order previously escheatmentd 20,000 distributes of provision fund on the public trade ce $12 per distribute. Later, the order resells 10,000 distributes ce $14 per distribute. What is the life chronicles ce the sale?
Interrogation 4 discretions:
liability principal, $140,000; trustworthiness provision fund, $120,000; trustworthiness subjoined hired-in important—provision fund, $20,000

liability principal, $140,000; trustworthiness provision fund, $140,000

liability principal, $140,000; trustworthiness provision fund, $20,000; trustworthiness subjoined hired-in important, $120,000

liability principal, $140,000; trustworthiness provision fund, $120,000; trustworthiness retained rights, $20,000

Interrogation 5
On January 1, 2016, Towson Inc. chattelsd $500,000, 20-year, 6% fetters at 101. Attention is unyieldingable semiannually on January 1 and July 1. The life chronicles to chronicles this affair on January 1, 2016, is
Interrogation 5 discretions:
liability principal, $500,000; trustworthiness fetters unyieldingable, $500,000.

liability principal, $505,000; trustworthiness fetters unyieldingable, $505,000.

liability principal, $500,000; liability bribe on fetters unyieldingable, $5,000; trustworthiness fetters unyieldingable, $505,000.

liability principal, $505,000; trustworthiness fetters unyieldingable, $500,000; trustworthiness bribe on fetters unyieldingable, $5,000.

Interrogation 6
Smith Ventures Inc. escheatmentd 10% of the uncollected fund of Jones Order. Smith hired $15 per distribute to realize 8,000 distributes and earn manage this escheatment as suited-for-sale securities. Par compute of the fund is 50 cents. Smith uses a enroll year, and on December 31, the trade compute of Jones fund is $17 per distribute. What is the chronicles Smith needs to find on December 31?
Interrogation 6 discretions:
liability unrealized bring-abextinguished on suited-for-sale securities, $16,000; trustworthiness suited-for-sale securities, $16,000.

no chronicles is demandd consequently the fund has referable been sold.

liability suited-for-sale securities, $16,000; trustworthiness unrealized bring-abextinguished on suited-for-sale securities, $16,000.

liability suited-for-sale securities, $8,000; trustworthiness unrealized bring-abextinguished on suited-for-sale securities, $8,000.

Interrogation 7
Richmond Cetification has chattelsd an uncollected sordid fund of 50,000 distributes, $5 par compute. On July 1, the order unyieldings a 2-for-1 fund cleave. What are the juridical important and the par compute of the fund presently succeeding the cleave?
Interrogation 7 discretions:
Juridical important, $250,000; par compute, $5.

Juridical important, $250,000; par compute, $2.50.

Juridical important, $125,000; par compute, $5.

Juridical important, $500,000; par compute, $2.50.

Interrogation 8
On January 10, Acme Ventures Inc. escheatmentd 30% of the uncollected fund of Gamma Ray Manufacturing Corp. The escheatment was 30,000 distributes at $10 per distribute. Acme dishonorable dividends from Gamma Ray in the equality of $15,000 on June 15 and abring-abextinguished on December 15. Gamma reputed inveigle unyielding ce the year purposeed December 31 in the equality of $250,000. What is the life chronicles, if any, that Acme needs to find boundd December 31?
Interrogation 8 discretions:
No chronicles on December 31 consequently the dividends were hired on divergent bounds.

Liability siege in Gamma Ray Corp., $45,000; trustworthiness unyielding from Gamma Ray Corp., $45,000.

Liability siege in Gamma Ray Corp., $75,000; trustworthiness unyielding from Gamma Ray Corp., $75,000.

Liability siege in Gamma Ray Corp., $75,000; trustworthiness unyielding from Gamma Ray Corp., $45,000; trustworthiness dividends unyielding, $30,000.

Interrogation 9
High Adventure Corp. chattelss $100,000 of 7%, 10-year fetters ce 98. High Adventure uses the straight-line rule to amortize any fetter allowances or bribes. The fetters unyielding attention semiannually. On the ripeness bound of the fetter, what is the life chronicles ce the latest attention unyieldingment and the discharge of the fetters?
Interrogation 9 discretions:
Liability fetters unyieldingable, $98,000; liability attention charge, $3,600; trustworthiness principal, $101,500; trustworthiness allowance on fetters unyieldingable, $100.

Liability fetters unyieldingable, $100,000; liability attention charge, $3,500; trustworthiness principal, $103,500.

Liability fetters unyieldingable, $100,000; liability attention charge, $3,430; trustworthiness principal, $103,430.

Liability fetters unyieldingable, $100,000; liability attention charge, $3,600; $103,500; trustworthiness allowance on fetters unyieldingable, $100.

Interrogation 10
On January 1, 2016, Towson Inc. chattelsd $500,000, 20-year, 6% fetters at 101. Attention is unyieldingable semiannually on January 1 and July 1. The life chronicles to chronicles this affair on January 1, 2016, is:
Interrogation 10 discretions:
liability principal, $500,000; trustworthiness fetters unyieldingable, $500,000.

liability principal, $505,000; trustworthiness fetters unyieldingable, $505,000.

liability principal, $500,000; liability bribe on fetters unyieldingable, $5,000; trustworthiness fetters unyieldingable, $505,000.

liability principal, $505,000; trustworthiness fetters unyieldingable, $500,000; trustworthiness bribe on fetters unyieldingable, $5,000.

Interrogation 11
What is the chattels of receiving a dividpurpose unyieldingment on sieges classified as suited ce sale:
Interrogation 11 discretions:
the aggregate commoditiess earn purposeure natural.

the long-term commoditiess earn decline.

Enlargement in aggregate Equity .

decline in aggregate liabilities

Save
Interrogation 12
Norman Geological Services had previously realized five thousand distributes of provision fund at $14 per distribute. It now sells them at $21 per distribute. The chronicles to chronicles this affair earn enclose a
Interrogation 12 discretions:
trustworthiness to Provision Fund ce $100,000.

liability to Hired-In Important from Provision Fund ce $35,000.

liability to Provision Fund ce $70,000.

trustworthiness to Hired-In Important from Provision Fund ce $35,000.

Interrogation 13
Fletcher Cetification unyieldings $500,000 to realize 40% of the equity securities of Venkat Technologies on May 5, 2015. Which of the subjoined earn be enclosed in the life chronicles to chronicles this affair?
Interrogation 13 discretions:
Liability Long-term Sieges—Trading Sieges $500,000.

Liability Long-term Sieges—Venkat Technologies $500,000.

Liability Long-term Sieges—Available-for-Sale $500,000.

Trustworthiness Long-term Sieges—Available-for-Sale $500,000.

Interrogation 14
Benjamin Sieges escheatmentd 40% of the sordid fund of Sadie Ivory Cetification on March 1, 2014. Sadie Cetification communications a inveigle unyielding of $675,000 ce the 2015 year. Based on the counsel granted, which of the subjoined is gentleman of the adjust equivocation on December 31, 2015?
Interrogation 14 discretions:
Aggregate commoditiess earn purposeure illegitimate.

Aggregate liabilities earn decline.

Aggregate equity earn enlargement.

Principal earn enlargement.

Interrogation 15
On January 1, 2015, EZ Auto Sales chattelsd $15,000 in fetters ce $15,800. They were 10-year fetters with a coercionmal reprove of 9%, and unyielding attention on a semiannual plea. EZ Auto Sales uses the straight-line rule to amortize the fetter bribe. On June 30, 2015, when EZ finds the leading unyieldingment to fetterholders, how plenteous earn they communication as Attention Charge?
Interrogation 15 discretions:
$635

$675

$275

$280

Interrogation 16
On January 1, 2013, Johnson Sales chattelsd $15,000 in fetters ce $14,300. They were 10-year fetters with a coercionmal reprove of 9%, and unyielding semiannual attention. Johnson Sales uses the straight-line rule to amortize the fetter allowance. Succeeding the succor attention unyieldingment on December 31, 2013, what was the fetter carrying equality?
Interrogation 16 discretions:
$14,388

$14,344

$15,000

$14,370

Interrogation 17
Phan Order chattelss $800,000 of 7%, 10-year fetters on March 31, 2013. The fetter unyieldings attention on March 31 and September 30. Which of the subjoined statements is gentleman?
Interrogation 17 discretions:
If the trade reprove of attention is 8%, the fetters earn chattels at a bribe.

If the trade reprove of attention is 8%, the fetters earn chattels at a allowance.

If the trade reprove of attention is 8%, the fetters earn chattels at par.

If the trade reprove of attention is 8%, the fetters earn chattels aloft par.

Interrogation 18(5 points)
In 2015, its leading year of operations Chesapeake Order had the subjoined affairs in 2015.
• Issued 20,000 distributes of sordid fund. Fund has par compute of $1.00 per distribute and was chattelsd at $14.00 per distribute.
• Issued 1,000 distributes of $100 par compute preferred fund. Distributes were chattelsd at par.
• Earned inveigle unyielding of $35,000.
• Hired no dividends.
• Hired Recitals Unyieldingable of $10,215
• Purchased a deal ce $10,000. Signed a 5 year promissory melody ce the full equality
• Hired a strange Vice President on December 15 ce a remuneration of $100,000. The Vice President begins pursuit on January 3, 2016

At the purpose of 2015, what is the aggregate equality of fundholders’ equity?
Interrogation 18 discretions:
$415,000

$120,000

$260,000

$380,000

Interrogation 19(5 points)
Maharaja Corp. was incorporated on January 1, 2012. Maharaja chattelsd 4,000 distributes of sordid fund and 500 distributes of preferred fund on that bound. The preferred distributes are cumulative, $100 par, with an 8% dividpurpose reprove. Maharaja has referable hired any dividends at-last. In 2015, Maharaja had its leading gainful year, and on November 1, 2015, Maharaja visible a aggregate dividpurpose of $28,000. The aggregate equality that earn be hired extinguished to preferred distributeholders is:
Interrogation 19 discretions:
$4,000

$16,000

$3,200

$28,000

Interrogation 20(5 points)
Rajiv Services invests its debauchery principal in Shamina Technologies and realizes 1,000 distributes ce $53.25. Rajiv Services owns hither than 1% of Shamina’s voting fund and plans to support the fund ce brace years. Which chronicles adown earn chronicles this affair?
Interrogation 20 discretions:
Long-term Sieges—Available-for-Sale earn be liabilityed ce $53,250.

Long-term Sieges—Held-to-Ripeness earn be liabilityed ce $53,250.

Long-term Sieges—Trading Sieges earn be trustworthinessed ce $53,250.

Long-term Sieges—Significant Attention Sieges earn be liabilityed ce $53,250.

Accounting
Interrogation 1
A cetification has the subjoined recital adjusts: Sordid Fund, $10 par compute, $740,000; Hired-in Important in Debauchery of Par, $1,850,000.
Based on this counsel, the _______________.
juridical important is $740,000
The juridical important is $740,000. The par compute of the order’s distributes uncollected. The juridical important capability referable be as sorted as dividends as-well public as coercionmal important.

Interrogation 2
On January 2, 2015, Easton Cetification chattelsd 50,000 distributes of 5% cumulative preferred fund at $100 par compute. No dividends accept been hired to any distributeholders past the cemation of the cetification. Management wants to chattels a dividpurpose to sordid distributeholders on December 31, 2016. What dividpurpose equality, if any, must be hired to the preferred fundholders entitled antecedently any distribution is made to sordid fundholders?

Items Amount($)
50,000
Par Compute per preferred distribute 100
Preferred dividpurpose reprove 5%
Preferred dividpurpose per annum 250,000
Number of years of arrears 2
Overaggregate preferred dividpurpose unyieldingable 500,000

$500,000

Interrogation 3
The Frederick Order has 100,000 distributes of $5 par sordid fund uncollected. Management declares (referable unyieldings) a 10% fund dividend. The trade compute of a distribute of sordid fund was $32 presently antecedent to the fund dividpurpose statement. The life chronicles is:
Retained Rights (100,000 * 32 * 10%) Dr $320,000
Fund Dividpurpose Distributable (100,000 * 5 * 10%) Cr $50,000
Paid-in Important in debauchery of par (100,000 * 27 * 10%) Cr $270,000

Liability retained rights, $320,000; trustworthiness fund dividpurpose distributable, $50,000; trustworthiness hired in important in debauchery of par, $270,000.

Interrogation 4
Cambridge Hat Order previously escheatmentd 20,000 distributes of provision fund on the public trade ce $12 per distribute. Later, the order resells 10,000 distributes ce $14 per distribute. What is the life chronicles ce the sale?
Liability principal, $140,000; trustworthiness provision fund, $120,000; trustworthiness subjoined hired-in important—provision fund, $20,000

Interrogation 5
On January 1, 2016, Towson Inc. chattelsd $500,000, 20-year, 6% fetters at 101. Attention is unyieldingable semiannually on January 1 and July 1. The life chronicles to chronicles this affair on January 1, 2016, is
Answer
Liability principal, $505,000; trustworthiness fetters unyieldingable, $500,000; trustworthiness bribe on fetters unyieldingable, $5,000.
Explanation-
Date Recital titles & Explanation Debit Credit
1. Cash $505,000
Bonds unyieldingable $500,000
Bribe on fetters unyieldingable $5,000*
$500,000*10% = $5,000

Interrogation 6
Smith Ventures Inc. escheatmentd 10% of the uncollected fund of Jones Order. Smith hired $15 per distribute to realize 8,000 distributes and earn manage this escheatment as suited-for-sale securities. Par compute of the fund is 50 cents. Smith uses a enroll year, and on December 31, the trade compute of Jones fund is $17 per distribute. What is the chronicles Smith needs to find on December 31?

The chronicles which Smith needs to find on December 31 is
Liability suited-for-sale securities, $16,000; trustworthiness unrealized bring-abextinguished on suited-for-sale securities, $16,000.

Interrogation 7
Richmond Cetification has chattelsd an uncollected sordid fund of 50,000 distributes, $5 par compute. On July 1, the order unyieldings a 2-for-1 fund cleave. What are the juridical important and the par compute of the fund presently succeeding the cleave?
Juridical important, $250,000; par compute, $2.50.

No of distribute antecedently fund cleave 50000
No of distribute succeeding fund cleave 50000*2 =100000
Par Compute, Succeeding Fund cleave 5/2 =2.50
100000 distributes *2.50 par compute =250,000
The number of distributes uncollected enlargements by a particular multiple, the aggregate dollar compute of the distributes purposeures the corresponding compared to pre-cleave equalitys
Interrogation 8
On January 10, Acme Ventures Inc. escheatmentd 30% of the uncollected fund of Gamma Ray Manufacturing Corp. The escheatment was 30,000 distributes at $10 per distribute. Acme dishonorable dividends from Gamma Ray in the equality of $15,000 on June 15 and abring-abextinguished on December 15. Gamma reputed inveigle unyielding ce the year purposeed December 31 in the equality of $250,000. What is the life chronicles, if any, that Acme needs to find boundd December 31?

Liability siege in Gamma Ray Corp., $75,000; trustworthiness unyielding from Gamma Ray Corp., $75,000.

Interrogation 9
High Adventure Corp. chattelss $100,000 of 7%, 10-year fetters ce 98. High Adventure uses the straight-line rule to amortize any fetter allowances or bribes. The fetters unyielding attention semiannually. On the ripeness bound of the fetter, what is the life chronicles ce the latest attention unyieldingment and the discharge of the fetters?

Liability fetters unyieldingable, $100,000; liability attention charge, $3,600; $103,500 trustworthiness principal; trustworthiness allowance on fetters unyieldingable, $100.

Interrogation 10
On January 1, 2016, Towson Inc. chattelsd $500,000, 20-year, 6% fetters at 101. Attention is unyieldingable semiannually on January 1 and July 1. The life chronicles to chronicles this affair on January 1, 2016, is:
Liability principal, $505,000; trustworthiness fetters unyieldingable, $500,000; trustworthiness bribe on fetters unyieldingable, $5,000.
Explanation
Date Recital titles & Explanation Debit Credit
1. Cash $505,000
Bonds unyieldingable $500,000
Bribe on fetters unyieldingable $5,000*

Interrogation 11
What is the chattels of receiving a dividpurpose unyieldingment on sieges classified as suited ce sale:

The aggregate commoditiess earn purposeure natural. A dividpurpose is unyielding.

Interrogation 12
Norman Geological Services had previously realized five thousand distributes of provision fund at $14 per distribute. It now sells them at $21 per distribute. The chronicles to chronicles this affair earn enclose a
liability to Hired-In Important from Provision Fund ce $35,000.
($21-$14) x 5,000=35,000

Interrogation 13
Fletcher Cetification unyieldings $500,000 to realize 40% of the equity securities of Venkat Technologies on May 5, 2015. Which of the subjoined earn be enclosed in the life chronicles to chronicles this affair?
Liability Long-term Sieges—Venkat Technologies $500,000.

Interrogation 14
Benjamin Sieges escheatmentd 40% of the sordid fund of Sadie Ivory Cetification on March 1, 2014. Sadie Cetification communications a inveigle unyielding of $675,000 ce the 2015 year. Based on the counsel granted, which of the subjoined is gentleman of the adjust equivocation on December 31, 2015?
Aggregate commoditiess earn purposeure illegitimate. It is consequently there is an siege that is executed through principal and leads to decline in principal and enlargement siege. Asset declines with corresponding equality as the siege enlargements.

Interrogation 15
On January 1, 2015, EZ Auto Sales chattelsd $15,000 in fetters ce $15,800. They were 10-year fetters with a coercionmal reprove of 9%, and unyielding attention on a semiannual plea. EZ Auto Sales uses the straight-line rule to amortize the fetter bribe. On June 30, 2015, when EZ finds the leading unyieldingment to fetterholders, how plenteous earn they communication as Attention Charge?

Attention charge = Principal attention hired – Fetter bribe amortized
= ($15,000 × 4.5%) – ($800 / 20)
=$675 – $40
= $635
On June 30, 2015, EZ earn communication $635 as attention charge.
$635

Interrogation 16
On January 1, 2013, Johnson Sales chattelsd $15,000 in fetters ce $14,300. They were 10-year fetters with a coercionmal reprove of 9%, and unyielding semiannual attention. Johnson Sales uses the straight-line rule to amortize the fetter allowance. Succeeding the succor attention unyieldingment on December 31, 2013, what was the fetter carrying equality?
Aggregate Fetter allowance = Par compute – Chattels charge = $(15,000 – 14,300) = $700
Amortized balance 10 years, annual fetter allowance = $700 / 10 = $70 per year
Succeeding 2 attention unyieldingments (succeeding 1 year),
Fetter carrying compute = Fetter Charge + Annual Allowance Amortized
= $14,300 + $70
= $14,370
Correct discretion (D)
$14,370

Interrogation 17
Phan Order chattelss $800,000 of 7%, 10-year fetters on March 31, 2013. The fetter unyieldings attention on March 31 and September 30. Which of the subjoined statements is gentleman?

If the trade reprove of attention is 8%, the fetters earn chattels at a bribe.

Interrogation 18
In 2015, its leading year of operations Chesapeake Order had the subjoined affairs in 2015.
• Issued 20,000 distributes of sordid fund. Fund has par compute of $1.00 per distribute and was chattelsd at $14.00 per distribute.
• Issued 1,000 distributes of $100 par compute preferred fund. Distributes were chattelsd at par.
• Earned inveigle unyielding of $35,000.
• Hired no dividends.
• Hired Recitals Unyieldingable of $10,215
• Purchased a deal ce $10,000. Signed a 5 year promissory melody ce the full equality
• Hired a strange Vice President on December 15 ce a remuneration of $100,000. The Vice President begins pursuit on January 3, 2016

At the purpose of 2015, what is the aggregate equality of fundholders’ equity?
$415,000
Aggregate Distributeholders’ Equity= Sordid fund + preferred fund + inveigle unyielding
= (14×20000) + (100×1000)+35000
= 415,000
Other affairs do referable accept chattels on Equity.
Interrogation 19
Maharaja Corp. was incorporated on January 1, 2012. Maharaja chattelsd 4,000 distributes of sordid fund and 500 distributes of preferred fund on that bound. The preferred distributes are cumulative, $100 par, with an 8% dividpurpose reprove. Maharaja has referable hired any dividends at-last. In 2015, Maharaja had its leading gainful year, and on November 1, 2015, Maharaja visible a aggregate dividpurpose of $28,000. The aggregate equality that earn be hired extinguished to preferred distributeholders is:
500 distributes x $100 par (0.08) = $4,000 x 4years
$16,000
Interrogation 20:
Rajiv Services invests its debauchery principal in Shamina Technologies and realizes 1,000 distributes ce $53.25. Rajiv Services owns hither than 1% of Shamina’s voting fund and plans to support the fund ce brace years. Which chronicles adown earn chronicles this affair?
Long-term Sieges—Available-for-Sale earn be liabilityed ce $53,250.