Reference no: EM132720403
Question: 1. On June 1, 2019 Adelphi Corporation issued $115,000 of 6%, 5-year bonds. The bonds which were issued at 103, pay interest on January 1 and June 1. Use this information calculate the amount of bond discount or premium that is amortized with each interest payment. If this is a discount amortization enter as a positive number, if a premium amortization enter as a negative number.
2. On December 31, 2018, Adelphi Corporation has outstanding 500 shares of $100 par value, 4% cumulative and nonparticipating preferred stock, and 8,000 shares of $10 par value common stock. Preferred dividends were paid in 2016 but were not paid in 2017. During 2018, Alpha distributed $30,000 in dividends. Use this information to determine for 2018 the dollar amount of dividends that will be distributed per common share. round to closest cent.
3. On March 1, 2019, Baltimore corporation had 95,000 shares of common stock outstanding with a par value of $5 per share. On March 1, Baltimore corporation authorized a 15% stock dividend when the market value was $20 per share. Use this information to calculate the amount either debited or credited to retained earning. enter as negative number if retained earnings is debited a positive number if retained earnings is credited.
4. The common stock account for Baltimore corporation on January 1, 2019 was $60,000. On July 1, 2018 Baltimore issued an additional 9,500 shares of common stock. The common stock is $5 par. There was neither preferred stock nor any treasury stock. paid in capital excess to par common stock was $20,000 on January 1 and $40,000 on July 2 and net income was $131,500. Use this information to determine for December 31, 2018 the amount of earnings per share.
5. For the FY 2018, Dorchester Company's balance sheet included the following current items: cash $31,000, accounts receivable $106,000, inventories $102,000, prepaid expenses $19,000, accounts payable $83,000, and accrued expenses $54,000. Use this information to determine the current ration. round to one decimal place.
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