Convertible preferred stock and convertible bonds

Assignment Help Accounting Basics
Reference no: EM13668374

Information for ABC Co:
12/31/2015 12/31/2014
Common shares Outstanding 100,000 100,000
Convertible preferred stock [$10 Par Value; convertible into 32,000 shares of common stock] $120,000 $120,000
10% Convertible bonds (convertible into 30,000 shares of common stock)
$1,000,000
$1,000,000

ABC's net income for the year ended 12/31/15 is $500,000. The income tax rate is 40%. ABC paid dividends of $5 per share on its preferred stock during 2015. There were no actual conversions of preferred stock or bonds during the year. Both the Convertible Preferred stock and Convertible Bonds were issued at Par Value.

Reference no: EM13668374

Questions Cloud

A certain first-order reaction has a rate constant : A certain first-order reaction has a rate constant of 2.95×10-2s-1 at 22°C. What is the value of k at 61°C if Ea = 80.0kJ/mol ?
Inorganic chemistry : INORGANIC CHEMISTRY
Given the quantities of chemicals used in this recipe : Given the quantities of chemicals used in this recipe
How elements generally prefer to form bonds : Octet rule refers to how elements generally prefer to form bonds so as to attain an octet configuration, i.e. have 8 electrons in their valence shell.
Convertible preferred stock and convertible bonds : Convertible Preferred stock and Convertible Bonds were issued at Par Value.
Dispose of it, inc. produces a variety of paper products : Dispose of It, Inc. produces a variety of paper products
Intangibles using the straight-line method : Sherwood Co. amortizes intangibles using the straight-line method.
Involve the provision of nonaudit services : The following situations involve the provision of nonaudit services indicate whether providing the service of AICPA rule or SEC rules including sarbanes Oxley requirements of independence Explain your as answer neccessary
The mission of the financial accounting standards board : "The mission of the Financial Accounting Standards Board is to establish and improve standards of financial accounting reporting for the guidance and education of the public, including issuers, auditors, and users of financial information.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Analyze the economic conditions that affect revenue

utilizing a public policy of your choice from a local government where you reside prepare a paper assessing that

  Felton company has a factory machine with a book value of

felton company has a factory machine with a book value of 90000 and a remaining useful life of 4 years. a new machine

  Incremental analysis for the decision problem

Prepare the incremental analysis for the decision to make or buy the lamp shades.

  Essay question how business ethics make you money and how

essay question how business ethics make you money and how it makes you no money? what are the good ethics and what are

  Calculations of cost per equivalent unit

Determine the denominators to be used in the calculations of cost per equivalent unit for materials and conversion costs.

  Direct materials are added to products evenly throughout

the production department in a process manufacturing system completed 191500 units of product and transferred them to

  Indicate the proper balance sheet classification for the

the adjusted trial balance for dolton corporation at the end of the current year contained the following accountsbonds

  Estimated total factory overhead costs

Poobah Manufacturers Inc. has estimated total factory overhead costs of $95,000 and 10,000 direct labor hours for the current fiscal year. If job number 117 incurred 1,600 direct labor hours, the work in process account will be debited and factory..

  Hector p wastrel a careless employee left some combustible

hector p. wastrel a careless employee left some combustible materials near an open flame in salter companys plant. the

  Calculate the ending goods in process inventory

If the cost of the beginning goods in process inventory is $10,200, costs of goods manufactured is $812,000, direct materials cost is $332,000, direct labor cost is $212,000, and overhead cost is $317,000, calculate the ending goods in process..

  Compute the ending balance in the work in process inventory

selected t-accounts for rolm company are given below for the just completed year raw materials manufacturing overhead

  Chattanooga company purchased a depreciable asset for 80000

chattanooga company purchased a depreciable asset for 80000 on january 1 2012.the estimated salvage value is 20000 and

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd