On March 1, 2016, Emma's Toy Store purchased Toy Maker's stock for $33,400, as a short-term available-for-sale security. On April 10, dividends of $1,075 were received from the Toy Maker's stock. On December 31, 2016, the end of Emma's Toy Store's accounting year, the Toy Maker's stock had a fair value of $34,300. On January 1, 2017, Emma's Toy Store sold all of the Toy Maker's stock for $35,000.

Prepare the journal entries needed to record the transactions for 2016 and 2017. Explanations are not required.

Suppose the following information is available for Callaway Golf Company for the years 2017 and 2016. (Dollars are in thousands, except share information.) 2017 2016 Net sales $ 1,128,000 $ 1,135,100 Net income (loss) 123,785 42,510 Total assets 863,338 846,078 Share information Shares outstanding at year-end 60,900,000 69,400,000 Preferred dividends 0 0 There were 72,300,000 shares outstanding at the end of 2015. (a) What was the company’s earnings per share for each year? (Round answers to 2 decimal places, e.g. 15.25.) 2017 : $ 2016 :

Record the 1/1/14 transaction for Fishbone Corporation and all necessary entries from 2014-2016.

Record the 1/1/14 transaction for Lost Company and all necessary entries from 2014-2016.

On January 1, 2014, Fishbone Corporation sold equipment to Lost Company that cost $250,000 and that had accumulated depreciation of $100,000 on the date of sale. Fishbone received as consideration a $240,000 non-interest-bearing note due on December 31, 2016. The prevailing rate of interest for a note of this type on January 1, 2014, was 5%.

Class Quest Company had the following balances as at January 1, 2016:

Accounts Receivable                           $600,000 Debit

Allowance for Doubtful Accounts        $32,000 Credit

During the fiscal year 2016 (Jan 1 to Dec 31 2016), the company had the following transactions:

    Total Sales                                                 $7,200,000 (of which 40% represents cash sales).

    Cash collected from credit customers         $3,000,000

    Write-offs of uncollectible accounts             $22,000.

Required: If the company estimates that 2.50% of its accounts receivable balance is uncollectible, calculate the ending balance in the allowance for doubtful accounts.

1.On January 15, 2016, Bravo Company purchased $1,500 of construction supplies to last for 3 months on account, from the Zulu Company. Prepare Bravo Company's general journal entry (without explanation).

2. On January 15, 2016, Bravo Company purchased $3,000 of construction supplies to last for 3 months, from the Zulu Company. Bravo paid for half of the supplies with cash and the remainder on account.

3. On January 31, 2016, Bravo withdrew $3,000 from the company. Prepare the general journal entry (without explanation) needed.

1. On January 1, 2014, Fishbone Corporation (an equipment manufacturer) sold equipment to Lost Company that cost $150,000. Fishbone received as consideration a down payment of $100,000 and a $240,000 note, (which includes accrued interest @ 5%), due on December 31, 2016. The prevailing rate of interest for a note of this type on January 1, 2014, was 5%.

Record the 1/1/14 transaction for Fishbone Corporation and all necessary entries from 2014-2016. Record the 1/1/14 transaction for Lost Company and all necessary entries from 2014-2016.

Meyer reported the following pretax financial income (loss) for the years 2012-2016

2012 $240,000

2013 200,000

2014 150,000

2015 (500,000)

2016 180,000

pretax financial income (loss) and taxable income (loss) were the same for all the years involved. The enacted tax rate was 34% for 2012 and 2013 and 38% for 2014-2016. Assume the carryback provision is used first for net operating losses. In 2015, based on the weight of available evidence, it is more likely than not that one-fifth of the benefits of the loss carryforward will not be realized.

Prepare the journal entries for 2015 ?

Broussard Skateboard's sales are expected to increase by 20% from $8.4 million in 2016 to $10.08 million in 2017. Its assets totaled $5 million at the end of 2016. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2016, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 6%, and the forecasted payout ratio is 70%. What would be the additional funds needed?