Chapter 5 Problem

For Randolph Company, the following information is available: Capitalized leases $560,000 Trademarks 180,000 Long-term receivables 210,000 In Randolph's balance sheet, intangible assets should be reported at a. $180,000. b. $210,000. c. $740,000. d. $770,000.

a.$180,000

For Grimmett Company, the following information is available: Capitalized leases $600,000 Trademarks 195,000 Long-term receivables 225,000 In Grimmett's balance sheet, intangible assets should be reported at a. $195,000. b. $225,000. c. $795,000. d. $825,000.

a.$195,000

Houghton Company has the following items: common stock, $900,000; treasury stock, $105,000; deferred taxes, $125,000 and retained earnings, $390,000. What total amount should Houghton Company report as stockholders' equity? a. $1,060,000. b. $1,185,000. c. $1,310,000. d. $1,395,000.

b.$1,060,000

Olmsted Company has the following items: common stock, $900,000; treasury stock, $105,000; deferred taxes, $125,000 and retained earnings, $454,000. What total amount should Olmsted Company report as stockholders' equity? a. $1,124,000. b. $1,249,000. c. $1,374,000. d. $1,499,000.

b.$1,249,000

Lohmeyer Corporation reports: Cash provided by operating activities $220,000 Cash used by investing activities 110,000 Cash provided by financing activities 140,000 Beginning cash balance 70,000 What is Lohmeyer's ending cash balance? a. $250,000. b. $320,000. c. $470,000. d. $540,000.

b.$320,000

Fulton Company owns the following investments: Trading securities (fair value) $120,000 Available-for-sale securities (fair value) 70,000 Held-to-maturity securities (amortized cost) 94,000 Fulton will report investments in its current assets section of a. $0. b. exactly $120,000. c. $120,000 or an amount greater than $120,000, depending on the circumstances. d. exactly $190,000.

c.$120,000 or an amount greater than $120,000 depending on the circumstances

Presented below are data for Bandkok Corp. 2012 2013 Assets, January 1 $5,400 $6,480 Liabilities, January 1 3,240 ? Stockholders' Equity, Jan. 1 ? ? Dividends 1,080 810 Common Stock 972 864 Stockholders' Equity, Dec. 31 ? ? Net Income 1,280 864 Stockholders' Equity at January 1, 2013 is a. $3,332. b. $2,160. c. $2,360. d. $3,440.

c.$2360

Presented below are data for Antwerp Corp. 2012 2013 Assets, January 1 $2,600 $3,360 Liabilities, January 1 1,680 ? Stockholders' Equity, Jan. 1 ? ? Dividends 560 420 Common Stock 504 448 Stockholders' Equity, Dec. 31 ? ? Net Income 560 448 Stockholders' Equity at January 1, 2012 is a. $ 504. b. $ 560. c. $ 920. d. $1,424

c.$560

Kohler Company owns the following investments: Trading securities (fair value) $120,000 Available-for-sale securities (fair value) 70,000 Held-to-maturity securities (amortized cost) 94,000 Kohler will report securities in its long-term investments section of a. exactly $190,000. b. exactly $214,000. c. exactly $284,000. d. $164,000 or an amount less than $164,000, depending on the circumstances.

d.$164,000 or an amount less than $164,000 depending on the circumstances

Presented below are data for Caracas Corp. 2013 2014 Assets, January 1 $4,560 ? Liabilities, January 1 ? $2,736 Stockholders' Equity, Jan. 1 ? 2,750 Dividends 570 646 Common Stock 608 650 Stockholders' Equity, Dec. 31 ? 2,166 Net Income 684 ? Net income for 2014 is a. $584 income. b. $584 loss. c. $62 loss. d. $62 income.

d.$62 income