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40 Minutes, Strong
Jan 5 Dividends 560,000
Dividends Pa
y
able 560
,
000
PROBLEM 12.6B
a. General Journal
GREENE, INC.
2015
b
.
Stockholders’ e
q
uit
y
:
Ca
p
ital stock, $1
p
ar value, 1,000,000 shares authorized,
587,975 shares issued, of which 200 are held in the treasury 587,975$
Additional
p
aid-in ca
p
ital:
From issuance of ca
p
ital stock 4,480,000$
PROBLEM 12.6B
GREENE, INC.
December 31, 2015
Partial Balance Shee
t
GREENE, INC. (concluded)
30 Minutes, Strong
Net (from
Income Source)
NE D NE NE
a.
Event
PROBLEM 12.7B
Stockholders’
Equity
Current
Assets
Net Cash Flow
HOT WATER, INC.
1
50 Minutes, Strong
a.
Stockholders’ equit
y
:
Capital stock:
Common stock, $1 par, 100,000 shares authorized,
20,000 shares issued, 16,000 shares outstandin
g
20,000$
Stock dividend to be distributed
(
1
)
1,600
PROBLEM 12.8B
A
DAMS CORPORATIO
N
December 31, 201
5
Partial Balance Shee
t
A
DAMS CORPORATIO
N
25 Minutes, Strong
CORP.
a.
(Dollars in
Th
ousan
d
s
)
Loss from continuing operations (38,940)$
Income from discontinued operations 24,000
PROBLEM 12.9B
CARDINAL MANUFACTURING CORPORATIO
N
For the Year Ended December 31, 20xx
Partial Income Statement
CARDINAL MANUFACTURIN
G
20 Minutes, Easy
c.
SOLUTIONS TO CRITICAL THINKING CASE
S
WHAT'S THIS?
CASE 12.1
The explosion of a chemical plant of a company like Union Carbide appears to meet the
Changes in estimate affect only the current year and future years, and are included in
revenues and expenses from normal operations.
20 Minutes, Medium
a.
CASE 12.2
If JPI had not sold the baseball team at the end of 2015, it still would have incurred the team’s
$1,300,000 operating loss for the year. However, the company would not have realized the $4,700,000
IS THERE LIFE WITHOUT BASEBALL
?
