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Question - On July 1, 2019, a corporation issued 4,000 of its 6-year, P1,000 face value, 8% convertible bonds at par. Interest is payable every June 30 and December 31.
On the date of issue, the prevailing market interest rate for similar debt without the conversion option is 10%.
On July 1, 2020, an investor tendered 1,500 bonds for conversion into 100,000, P10 par value, ordinary shares of the corporation.
Determine the net increase in share premium on July 1, 2020 due to the conversion of the bonds. Round off present value factors to four decimals.
Sources of increases to stockholder's equity are
Dawn, a single, cash method taxpayer, paid the following in the current year: Item Amount Federal income tax (employer withheld) $5,400 State income tax (employer withheld) 2,000 FICA (employer withheld) 3,800 Sales tax on a new car 600 License for n..
What does ratio tell about the amount of debt that is used by the company? Make an assessment of the company's ability to meet its long-term obligations.
Debt of Rp. 500,000,000 recorded by the company Dr., Equipment Rp. 500 million and Cr Cash Rp. 500 million, what are the consequences?
What amount should Lino include as net cash provided by operating activities in the statement of cash flows?
The information is available for the first month of operations of Enders Company, a manufacturer of mechanical pencils - Determine the missing amounts - Cost of goods sold
No gift tax was paid. Hart, Jr. sold the 25% partnership interest for $85,000 on December 17 of this year. What type and amount of gain should Hart, Jr. report on his current-year tax return?
Sandhill Company issued $308,000 of 8%, 10-year bonds on January 1, 2020, at face value. Prepare the journal entry to record the accrual of interest
There was no beginning inventory. During the year the company manufactured 67,000 units. If net income using variable and full costing was $245,000 and $205,700, respectively, how many units did the company sell in 2007?
Zamboanga reported an ending inventory of P138,600. Shipments are billed at a mark-up of 40% on cost. What is the real net income of Zamboanga branch?
Prepare the account sales; and Enter the transactions in the books of both the parties. SONY sent on consignment to Yared Electronics 100 TV set
Which might be that transaction? Suppose that, in a merchandising firm, the opening balances of total assets and total equity are 50.000 TL
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