Chapter 1, Problem 1.6AP

On September 30, 20x4, Daenerys Targaryen and Jon Snow formed a corporation called Snow Dragon, Inc. Following a successful first year, the Board of Directors for Snow Dragon Inc. decides to share some of the company's earnings with the shareholders. Prepare the required journal entries to record the following transactions for Snow Dragon, Inc. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) September October October 18 Snow Dragon, Inc. declared a cash dividend payable to common stockholders of $169,000. 14 Date of record is October 14 for the cash dividend declared on September 18. 31 Snow Dragon Inc. pays the dividend declared on September 18. View transaction list Journal entry worksheet Date Sept 18 2 Snow Dragon, Inc. declared a cash dividend payable to common stockholders of $169,000. 3 4 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit > View general journal

A first-year accounting student is confused by a statement made in a recent class. Her instructor stated that theassets listed in the balance sheet of the IBM Corporation include computers that are classified as current assetsas well as computers that are classified as long-term (noncurrent) assets. In addition, the instructor stated thatinvestments in marketable securities of other corporations could be classified in the balance sheet as either currentor long-term assets.Required:Explain to the student the distinction between current and long-term assets pertaining to the IBM computers andthe investments in marketable securities.The usefulness of the balance sheet is enhanced when assets and liabilities are grouped according to commoncharacteristics. The broad distinction made in the balance sheet is the current versus long-term classification ofboth assets and liabilities.Required:1. Discuss the factors that determine whether an asset or liability should be classified as current or…

Assume that you have finished your MBA program and have applied for a position in the FinancialAccounting Department of a large multinational company. The company is struggling with itsaccounting reporting matters and several accounting reports are under regulatory scrutiny. In theinterview board, the recruitment committee members have asked you the following questions. i. How can you contribute the Financial Accounting Department of this company if youare recruited? (PLEASE DO NOT GIVE OTHER OR EXISTING ANSWER OF BARTLEBY)

,give your opinion from the financial accounting perspective. ( You may refer to an appropriate accounting principle.) .Assume a financial year from 1st January -31st Dec 2022. The accountant had deliberately not disclosed that the business had lost Kshs.500,000 following a robbery that took place during that year and that the money was not insured.

(my first name starts with a D) Scenario: The 2020 comparative balance sheet and 2020 income statement of Maple Group Ltd, have just been prepare and presented to the owners by the company’s Accountant. Upon close examination of the financial information received, it was discovered that some figures in the balance sheet were erroneously omitted due to an oversight by the accountant who is not available to fix the problem due to his unavoidable absence from work. In addition, the owners were concerned about the movement in the company’s cash and cash equivalent given that the balance sheet does not show or explain the reason or reasons why there was an increase or decrease in this area.  The company uses the indirect method to prepare the statement of cash flows and it is expected that this should be able to provide the needed clarity required by the owners. The owners have asked each student from your accounting course to assist with the needed clarification and have put forward the…

Can I please get some help with the following question? Thank you   Task: Your close friend Leslie Lazier is the owner and operator of Lazier Tech, Inc., which wasorganized in 2017. The company’s accountant resigned suddenly in early 2018 without leaving acontact number and Leslie was left with several unanswered questions as it relates to thecomposition of the company’s paid in capital and the total stockholders’ equity. At December31, 2017, the Lazier Tech reported the following extract from the company’s balance sheet.Preferred stock, 6%, $40 par, 1,000,000 shares authorized, none issued $ 0Common stock, $4 par, 600,000 shares authorized, 100,000 shares issued andoutstanding400,000Paid-in capital in excess of par—common $120,000Retained earnings $60,000 During 2018, the company completed the following selected transactions:a. Issued for cash 25,000 shares of preferred stock at par value.b. Issued for cash 40,000 shares of common stock at a price of $10 per share.c. Net income for…

Assume that you have finished your MBA program and have applied for a position in the FinancialAccounting Department of a large multinational company. The company is struggling with itsaccounting reporting matters and several accounting reports are under regulatory scrutiny. In theinterview board, the recruitment committee members have asked you the following question i. What have you learnt in the BUS 505 (Accounting Principles) course relating to financial accounting?

Assume that you have finished your MBA program and have applied for a position in the FinancialAccounting Department of a large multinational company. The company is struggling with itsaccounting reporting matters and several accounting reports are under regulatory scrutiny. In theinterview board, the recruitment committee members have asked you the following questions. i. What have you learnt in the BUS 505 course relating to financial accounting?

I am having trouble with this section of questions, not sure how to set up or fill out properly.... SERIAL PROBLEM: KATE’S CARDS(Note: This is a continuation of the Serial Problem: Kate’s Cards from Chapter 1.)SP2. In September 2019, Kate incorporated Kate’s Cards after investigating different organizational forms,and began the process of getting her business up and running. The following events occurred duringthe month of September 2019:1. Kate deposited $10,000 that she had saved into a newly opened business checking account. Shereceived common stock in exchange.2. Kate designed a brochure that she will use to promote her greeting cards at local stationery stores.3. Kate paid Fred Simmons $50 to critique her brochure before undertaking her final design andprinting.4. Kate purchased a new iMac computer tablet, specialized graphic arts software, and commercialprinter for the company, paying $4,800 in cash. She decided to record all of these items under thesame equipment account.5. Kate…