Reference no: EM132588983

Question 1: On June 1, 2019 Adelphi Corporation issued $470,000 of 6%, 5-year bonds. The bonds which were issued at 99, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is premium amortization enter as a negative number.

Question 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 $40,000 in dividends. Use this information to determine for 2018 the dollar amount of dividends that will be distributed per Common Share. Round answer to closest cent.

Question 3: On March1, 2019, Baltimore Corporation had 80,000 shares of common stock outstanding with a par value of $5 per share. On March 1, Baltimore Corporation authorized a 20% stock dividend when the market value was $20 per share. Use this information to calculate the amount either (debited) or credited to retained earnings. Enter as a negative number if retained earnings is debited and a positive number if retained earnings is credited.

Question 4: The Common Stock account for Baltimore Corporation on January 1, 2018 was $55,000. On July 1, 2018 Baltimore issued an additional 8,500 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 $111,000. Use this information to determine for December 31, 2018 the amount of Earnings per Share (rounded to the nearest cent).

Question 5: For the FY 2018, Dorchester Company's balance sheet included the following current items: cash $51,000, accounts receivable $100,000, inventories $89,000, prepaid expenses $16,000, accounts payable $84,000, and accrued expenses $62,000. Use this information to determine the Current Ratio. (Round & enter your answers to one decimal place.)