a. Lexie Company uses the periodic inventory method. It has provided the following inventory information for May: b. T

[answerhappygod]

a. Lexie Company uses the periodic inventory method. It
has provided the following inventory information for
May:
b. The 2021 financial statements of
Willamette Valley Vineyards include the following
footnote:
Note 4. Property and Equipment
2021
2020
b. Assume that on January 1, 2021, the company determined
that a building with a net book value of $950,000 had a fair value
of $400,000. How would this affect the company's balance sheet and
income statement in 2021?
c. Selected information from Green Sock's annual report
is provided below:
On January 15, Year 1, the Company issued $800,000 of 7.125 percent
Senior Notes due January 15, Year 10, at par value. Interest
on the notes is payable semiannually on January 15 and July
15. At December 31, Year 2, the fair value of the notes,
based on market quotes, was approximately $834,920.
A. How much cash did the company receive when the Senior Notes were
issued on January 15, Year 1?
B. How much interest expense was recorded at the time of the
first interest payment, assuming semi-annual compounding?
C. If the company were to repurchase the remaining notes on
December 31, Year 2, how would the company report the
event? What amounts would be reported as a result and on which
financial statements?
d. Following is the stockholders' equity section
of the 2021 Kellogg Company balance sheet. ($ in millions, except
par value):
Common stock, $0.25 par value, 1,000,000,000 shares authorized,
issued: 420,472,901 shares in 2021 and 420,315,589 shares in
2020
Capital in excess of par value
Retained earnings
Treasury stock at cost, 69,403,567 shares in 2021 and 70,291,514
shares in 2020
Accumulated other comprehensive (loss)
Total Kellogg Company equity
Noncontrolling interests
Total equity
Required:
a. How many common shares are issued at year end
2021?
b. At what average price was the common stock issued as
of 2021?
c. How many common shares are outstanding at year end
2021?
d. How many shares of treasury stock (net) did Kellogg
acquire or retire or sell during 2021?
e. What average price did Kellogg acquire its treasury
stock as of year-end 2021?
f. In general, what is accumulated other
comprehensive income? List three items that affect this
account.
g. What is noncontrolling interest?