Homework Answers
| Ans c ) | Account Title | Amount (Dr) | Amount (Cr) | |
| Bonds Payable(30*$1000) | $ 30,000.00 | |||
| Premium on Bonds Payable($39600-$30000) | $ 9,600.00 | |||
| To Common Stock(4000*$5) | $ 20,000.00 | |||
| To Paid in capital excess of par($39600-$20000) | $ 19,600.00 | |||
| Difference between bonds Carrying value-Bond price=Premium on bonds payable | ||||
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20.000 50.000 80 Thirty 1.000 bonds with Careyine value o O Per value common took. The...
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued...
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued and outstanding In excess of per on preferred stock Total Paid-in-Capital from Preferred Stock $ 5.000.000 $ 5,300,000 $ $ 7.500.000 200.000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized, 300,000 shares issued and outstanding In excess of stated value on common stock Total Paid-in-Capital from Common Stock Total Paid-in-Capital Retnined Earnings (Note A) Total Stockholder's Equity $ $ $ $ 100,000...
On January 1, $314,400 of par value bonds with a carrying value of $328,000 is converted...
On January 1, $314,400 of par value bonds with a carrying value of $328,000 is converted to 52,400 shares of $5 par value common stock. The entry to record the conversion of the bonds includes all of the following entries except Multiple Choice Debit to Bonds Payable $314,400. Credit to Paid-In Capital in Excess of Par Value, Common Stock $66,000. Credit to Common Stock $262,000. Debit to Premium on Bonds Payable $13,600. Debit to Bonds Payable $328,000.
on january 1, $362,400 of par value bonds with a carrying value of $388,000 is converted...
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On January 1, 2018, when its $30 par value common stock was selling for $80 per...
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On January 1, 2019, when its $30 par value common stock was selling for $80 per...
On January 1, 2019, when its $30 par value common stock was selling for $80 per share, Sweet Corp. issued $11,200,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into five shares of the corporation's common stock. The debentures were issued for $12,096,000. The present value of the bond payments at the time of issuance was $9,520,000, and the corporation believes the difference between the present...
a Issued 240000 shares of $6-per-value common stock for $1,440,000 in cash b. Browed $50.000 ton...
a Issued 240000 shares of $6-per-value common stock for $1,440,000 in cash b. Browed $50.000 ton Oglesby National Bank and sigedam% note due in two years. c. Incurned and paid $400,000 in salaries for the year d. Purchased $650,000 of merchandise Inventory on account during the year e. Sold inventory costing $620,000 for a total of $950,000, all on credit Paid rent of $220,000 on the sales fecilities during the first 11 months of the year h Paid the entre...
Exercise 16-4 On January 1, 2016, when its $30 par value common stock was selling for...
Exercise 16-4 On January 1, 2016, when its $30 par value common stock was selling for $80 per share, Pina Corp. issued $12,500,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into five shares of the corporation's common stock. The debentures were issued for $13,500,000. The present value of the bond payments at the time of issuance was $10,625,000, and the corporation believes the difference between...
On January 1, 2019, when its $30 par valve common stock wing for 580 per share,...
On January 1, 2019, when its $30 par valve common stock wing for 580 per share, Bridgesort Corp, issued $10,700,000 of convertible debertures due in 20 years. The conversion option allowed the holder of each $1.000 hond to come the band into five shares of the corporation common stock. The debentures were lived for $11.556,000. The present value of the bond payments at the time of issuance was $9.005.000, and the corporation believes the difference between the premu when the...
Eastline Corporation had 10,000 shares of $10 per value common stock directors declared a 15% stock...
Eastline Corporation had 10,000 shares of $10 per value common stock directors declared a 15% stock dividend to its shareholders. At the time of the stock videod, the m ning when the board value per share was $12. The try to record e is dividend is Required: A What number of shares will be issued as a divend B. Using the account named "Stock Dividend Distributable prepare the journal entry to report the dividend on the declaration date. 8. A...
Instructions On January 1, 2015, when its $30 par value common stock was selling for $70...
Instructions On January 1, 2015, when its $30 par value common stock was selling for $70 per share, a corporation issued $20 million of 12% convertible debentures due in 10 years. The conversion option allowed the holder of each $1,000 bond to convert it into six shares of the corporation's $30 par value common stock. The debentures were issued for $21 million. At the time of issuance, the present value of the bond payments was $18.50 million, and the corporation...
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued and outstanding In excess of per on preferred stock Total Paid-in-Capital from Preferred Stock $ 5.000.000 $ 5,300,000 $ $ 7.500.000 200.000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized, 300,000 shares issued and outstanding In excess of stated value on common stock Total Paid-in-Capital from Common Stock Total Paid-in-Capital Retnined Earnings (Note A) Total Stockholder's Equity $ $ $ $ 100,000...
On January 1, $314,400 of par value bonds with a carrying value of $328,000 is converted to 52,400 shares of $5 par value common stock. The entry to record the conversion of the bonds includes all of the following entries except Multiple Choice Debit to Bonds Payable $314,400. Credit to Paid-In Capital in Excess of Par Value, Common Stock $66,000. Credit to Common Stock $262,000. Debit to Premium on Bonds Payable $13,600. Debit to Bonds Payable $328,000.
On January 1, 2018, when its $30 par value common stock was selling for $80 per share, a corporation issued $20 million of 10% convertible debentures due in 10 years. The conversion option allowed the holder of each $1,000 bond to convert it into five shares of the corporation's $30 par value common stock. The debentures were issued for $21 million. At the time of issuance, the present value of the bond payments was $18.5 million, and the corporation believes...
On January 1, 2019, when its $30 par value common stock was selling for $80 per share, Sweet Corp. issued $11,200,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into five shares of the corporation's common stock. The debentures were issued for $12,096,000. The present value of the bond payments at the time of issuance was $9,520,000, and the corporation believes the difference between the present...
a Issued 240000 shares of $6-per-value common stock for $1,440,000 in cash b. Browed $50.000 ton Oglesby National Bank and sigedam% note due in two years. c. Incurned and paid $400,000 in salaries for the year d. Purchased $650,000 of merchandise Inventory on account during the year e. Sold inventory costing $620,000 for a total of $950,000, all on credit Paid rent of $220,000 on the sales fecilities during the first 11 months of the year h Paid the entre...
Exercise 16-4 On January 1, 2016, when its $30 par value common stock was selling for $80 per share, Pina Corp. issued $12,500,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into five shares of the corporation's common stock. The debentures were issued for $13,500,000. The present value of the bond payments at the time of issuance was $10,625,000, and the corporation believes the difference between...
On January 1, 2019, when its $30 par valve common stock wing for 580 per share, Bridgesort Corp, issued $10,700,000 of convertible debertures due in 20 years. The conversion option allowed the holder of each $1.000 hond to come the band into five shares of the corporation common stock. The debentures were lived for $11.556,000. The present value of the bond payments at the time of issuance was $9.005.000, and the corporation believes the difference between the premu when the...
Eastline Corporation had 10,000 shares of $10 per value common stock directors declared a 15% stock dividend to its shareholders. At the time of the stock videod, the m ning when the board value per share was $12. The try to record e is dividend is Required: A What number of shares will be issued as a divend B. Using the account named "Stock Dividend Distributable prepare the journal entry to report the dividend on the declaration date. 8. A...
Instructions On January 1, 2015, when its $30 par value common stock was selling for $70 per share, a corporation issued $20 million of 12% convertible debentures due in 10 years. The conversion option allowed the holder of each $1,000 bond to convert it into six shares of the corporation's $30 par value common stock. The debentures were issued for $21 million. At the time of issuance, the present value of the bond payments was $18.50 million, and the corporation...
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