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ACCT 504 Week 6 Homework (E10-19A, E10-25A, E12-16A, E12-20A)
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ACCT 504 Week 6 Homework (E10-19A, E10-25A, E12-16A, E12-20A)

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  • ACCT 504 Week 6 Homework.xlsx

This Tutorial contains Excel Files which can be used to solve for any values (your Question may have different company name or values, but that can be solved using Excel file)
 
 
E10-19A
Army Navy Sporting Goods is authorized to issue 10,000 shares of common stock. During a two-month period, Army Navy completed these stock-issuance transactions:
 
Apr 23 Issued 3,000 shares of $1.00 par common stock for cash of $13.00 per share.
May 12 Received inventory with a market value of $20,000 and equipment with market
    value of $39,000 for 3,600 shares of the $1.00 par common stock.Requirements
1. Journalize the transactions.
2. Prepare the stockholders' equity section of 
Army Navy Sporting Goods' balance sheet for the transactions given in this exercise. Retained Earnings has a balance of 
$45,000. 
 
 
 
E10-25A (similar to)  Question Help   
Ontario Manufacturing, Inc., reported the following at December 31, 2014 and December 31, 2015:
Stockholders' Equity
 
Preferred stock, cumulative, $1.00 par, 12%, 45,000 shares issued
$45,000
 
Common stock, $0.60 par, 9,070,000 shares issued
5,442,000
Ontario Manufacturing has paid all preferred dividends through 2011
Requirement
 
1. Compute the total amounts of dividends to both preferred and common stockholders for 
2014 and 2015 if total dividends are $30,000 in 2014 and $45,000 in 2015.
 
Begin with 2014. Compute the total amounts of dividends to both preferred and common stockholders for 
2014 if total dividends are $30,000.
 
 
 
 
E12-16A
 
Donnahoo Investments specializes in low-risk government bonds. 
Identify each of Donnahoo's transactions as operating (O), investing (I), financing (F), noncash investing and financing (NIF), or a transaction that is not reported on the statement of cash flows (N). Indicate whether each item increases (+) or decreases  
 
a. Cash sale of land
b. Issuance of long-term note payable in exchange for cash
c. Depreciation of equipment
d. Purchase of treasury stock
e. Issuance of common stock for cash
f. Increase in accounts payable
g. Net income
h. Payment of cash dividend
i. Decrease in accrued liabilities
j. Loss on sale of land
k. Acquisition of building by issuance of notes payable
l. Payment of long-term debt
m. Acquisition of building by issuance of common stock
n. Decrease in accounts receivable
o. Decrease in inventory
p. Increase in prepaid expenses
 
E12-20A
The income statement and additional data of Newton Travel Products, Inc., follow:
 
Requirements
 
1. Prepare 
Newton Travel Products's statement of cash flows for the year ended December 31, 
2014, using the indirect method.  
2. Evaluate Noel' cash flows for the year. In your evaluation, mention all three categories of 
cash flows and give the reason for your evaluation.
 
Requirement 1. Prepare Newton's statement of cash flows for the year ended December 31, 
2014, using the indirect method. 
Start by completing the cash flows from operating activities. Then complete each section of the statement of cash flows, including the noncash investing and financing activities. (
 
Newton Travel Products, Inc.
 
 
Income Statement
 
 
Year Ended December 31, 2014
 
 
 
Requirement 2. Evaluate 
Newton's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation. Newton's .

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