Unit 5 Assignment
Exercise 13-5 (Debt Classification) Presented are four different situations related Mckee plc debt obligations. Mckee’s next financial reporting date is December 31,2018. The financial statements are authorized for issuance on March 1, 2019.
Indicate how each of these debt obligations is reported on Mckee’s statement of financial position on December 31, 2018.
Exercise 13-13 (Warranties) Early in 2019, Sheryl Crow Equipment sold 500 Rollomatics during 2019 at $6,000 each. During 2019, Crow spent $ 20,000 servicing the 2year assurance warranties that accompany the Rollomatic. All applicable transaction are on a cash basis.
Exercise 14-5 (Entries for Bond Transactions) Assume the same information as in E14.4 except that the bonds were issued 84.95 to yield 12%.
Here is the E14.4 Foreman Cleaners issued $800,000 of 10%, 20year old bonds on January 1, 2019 at 119.792 to yield 8%. Interest is payable semiannually on July and January1.
Exercise 14-11 (Entries for Zero-Interest-Bearing Notes) On January 1, 2019 Mclean AG makes the the following acquisitions.
The company has to pay 11% interest for funds from its bank.
Exercise 15-6 (Share Issuances and Repurchase) Loxley Corporation is authorized to issue 50,000 s shares of $10 par value ordinary shares. During 2019, Loxley took part in the following selected the transactions.
Exercise15-7 (Effect of Treasury Share Transactions on Financials) Goosen SA has outstanding 40,000 shares of $5 par ordinary shares which had been issued at $30 per share. Goosen entered into the following transactions.
Use the following code to indicate the effect of the three transactions has on the financial statement categories listed in the table below, assuming Goosen SA uses the cost method:1- increase: D= decrease; and NE= No effect.
Share Retained Net
# Assets Liabilities Equity Premium Earnings Income
Plagiarism Free Papers
All our papers are original and written from scratch. We will email you a plagiarism report alongside your completed paper once done.
All papers are submitted ahead of time. We do this to allow you time to point out any area you would need revision on, and help you for free.
A title page preceeds all your paper content. Here, you put all your personal information and this we give out for free.
Without a reference/bibliography page, any academic paper is incomplete and doesnt qualify for grading. We also offer this for free.
Originality & Security
At Homework Valley, we take confidentiality seriously and all your personal information is stored safely and do not share it with third parties for any reasons whatsoever. Our work is original and we send plagiarism reports alongside every paper.
24/7 Customer Support
Our agents are online 24/7. Feel free to contact us through email or talk to our live agents.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
We work around the clock to see best customer experience.
Our prices are pocket friendly and you can do partial payments. When that is not enough, we have a free enquiry service.
Admission help & Client-Writer Contact
When you need to elaborate something further to your writer, we provide that button.
We take deadlines seriously and our papers are submitted ahead of time. We are happy to assist you in case of any adjustments needed.
Your feedback, good or bad is of great concern to us and we take it very seriously. We are, therefore, constantly adjusting our policies to ensure best customer/writer experience.