Description of this paper

Assignment Week Two: ACC206




ACC/206 Wk 2;Week Two Assignment;Please complete the following 5 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.;1. Analysis of stockholders' equity;Star Corporation issued both common and preferred stock during 20X8. The stockholders' equity sections of the company's balance sheets at the end of 20X8 and 20X7 follow.;20X8;20X7;Preferred stock, $100 par value, 10%;$600,000;$500,000;Common stock, $10 par value;2,350,000;1,550,000;Paid-in capital in excess of par value;Preferred;24,000;?;Common;4,620,000;3,600,000;Retained earnings;8,470,000;6,920,000;Total stockholders' equity;$16,064,000;$12,570,000;a. Compute the number of preferred shares that were issued during 20X8.;b. Calculate the average issue price of the common stock sold in 20X8.;c. By what amount did the company's paid-in capital increase during 20X8?;d. Did Star's total legal capital increase or decrease during 20X8? By what amount?;2. Bond computations: Straight-line amortization;Northern Corporation issued $800,000 of 7% bonds on March 1, 20X8. The bonds pay interest on March 1 and September 1 and mature in 10 years. Assume the independent cases that follow.;? Case A ?The bonds are issued at 100.;? Case B ?The bonds are issued at 96.;? Case C ?The bonds are issued at 105.;Southlake uses the straight-line method of amortization.;Instructions;Complete the following table;Case A;Case B;Case C;Cash inflow on the issuance date;Total cash outflow through maturity;Total borrowing cost over the life of the bond issue;Interest expense for the year ended December 31, 20X8;Amortization for the year ended December 31, 20X8;Unamortized premium as of December 31, 20X8;Unamortized discount as of December 31, 20X8;Bond carrying value as of December 31, 20X8;3. Definitions of manufacturing concepts;J & B Manufacturing produces brass fasteners and incurred the following costs for the year just ended;Materials and supplies used;Brass $80,000;Repair parts 18,000;Machine lubricants 8,000;Wages and salaries Machine operators 140,000;Production supervisors 62,000;Maintenance personnel 39,000;Other factory overhead Variable 29,000;Fixed 48,000;Sales commissions 20,000;Compute;a. Total direct materials consumed;b. Total direct labor;c. Total prime cost;d. Total conversion cost;4. Schedule of cost of goods manufactured, income statement;The following information was taken from the ledger of Jakob Industries, Inc.;Direct labor;$75,000;Administrative expenses;$63,000;Selling expenses;36,000;Work in. process;Sales;310,000;Jan. 1;32,000;Finished goods


Paper#74137 | Written in 18-Jul-2015

Price : $22