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Intermediate Accounting II - D104 WGU Practice questions for this set Learn 1 / 7 Study with Learn $25 Choose matching term A company receives a lump sum of $1,015 for a $1,000 par value bonds with one warrant attached. The warrant is f$7.99
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Intermediate Accounting II - D104 WGU Practice questions for this set Learn 1 / 7 Study with Learn $25 Choose matching term A company receives a lump sum of $1,015 for a $1,000 par value bonds with one warrant attached. The warrant is f
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Course
ABA - Accredited Business Accountant/Advisor
Institution
ABA - Accredited Business Accountant/Advisor
Intermediate Accounting II - D104 WGU
Practice questions for this set
Learn 1 / 7 Study with Learn
$25
Choose matching term
A company receives a lump sum of $1,015 for a $1,000 par value bonds with one warrant attached. The warrant is for the purchase one shar...
A company receives a lump sum of $1,015 for a $1,000 par value bonds with one warrant attached.
The warrant is for the purchase one share of common stock for $30 within the next five years when
the stock is trading at $60, and the warrant can be traded separately from the bond. The bond's
market price is 99. How much of the lump-sum sale proceeds is allocated to the warrant if the
1 incremental method is used?
$15
$25
$30
$60
In which situation can capitalization of interest be included in the cost of land?
When holding the land as an investment
2 When purchasing land with the intension of developing it for lots sales
When selling the land
When building a structure on the land
Intermediate Accounting II - D104 WGU
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, 9/9/24, 3:44 PM
A company reported the following excerpts from its balance sheet:
Cash: $150,000
Short-term investments: $350,000
Accounts receivable (net): $200,000
Inventory: $300,000
Property, plant, and equipment (net): $500,000
3
Total current liabilities: $400,000
What is the company's current ratio?
1.25
1.75
2.50
3.75
4 Return on Assets
Don't know?
Terms in this set (42)
Which method should be used to handle Assigning a pro rata portion of all overhead to the asset
indirect costs of self-constructed assets?
Assigning no variable overhead to a
constructed asset
Allocating overhead on the basis of gained
production
Assigning a pro rata portion of all overhead
to the asset
Allocating the total overhead to the asset
A company purchases land for development Cost of land
into a subdivision. The land has a factory
building on it that will need to be
demolished.
Where should the interest costs be
allocated?
Interest expenses
General administrative expenses
Cost of the land
Cost of the plant
In which situation can capitalization of When purchasing land with the intension of developing it for lots sales
interest be included in the cost of land?
When holding the land as an investment
When purchasing land with the intension of
developing it for lots sales
When selling the land
When building a structure on the land
Which value should be used to record Present value of the future payments
machinery that was purchased with a long-
term note?
Sum of all estimated payments
Market price of the machinery
Present value of the future payments
Appraised value of the machinery
Intermediate Accounting II - D104 WGU
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