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1. Four years after issue, debentures with a face value of $1,000,000 and book value of $960,000 are tendered for conversion into 80,000 shares of common stock immediately after an interest payment date. At that time the market price of the debentures is 104, and the common stock is selling at $14 per share (par value $10). The company records the conversion as follows.
Bonds Payable 1,000,000Discount on Bonds Payable 40,000Common Stock 800,000Paid-in Capital in Excess of Par 160,000Discuss the propriety of this accounting treatment.
operating expenses other than depreciation for the year were 400000. prepaid expenses increased by 17000 and accrued
Mr. Jenson bought a set of living room furniture for $5,645. He paid $500 at first. He then paid the remainder in equal payments, every month for seven mouths. How much did he pay each month?
units produced 50000 units sold this year 49000 direct materials 7 per unit direct labor 3 per unit variable overhead
What might be the cause of this increase and what are the implications to management of this increase?
The company is subject to state unemployment taxes at the rate of 2% and federal unemployment taxes at the rate of 0.8%. By May 15, some employees had earned over $7,000, so only $9,000 of the $20,000 weekly gross pay was subject to unemployment t..
Determine the total compensation cost pertaining to the restricted share.
During the year, assets increase $80,000 and liabilities increase $46,000. What is the equity at the end of the year?
For tax year 2010, the partnership earned revenue of $500,000 and had operating expenses of $200,000. During the year, Wayne withdrew from the partnership a total of $64,000. He also invested an additional $20,000 in the partnership. For 2010, Way..
Identify the fields likely to be used in this database. If you were constructing this database, how many spaces would you allow for each field?
which of the following statements about the public company accounting oversight board pcaob is not true?the pcaob was
Explain how a well-designed Accounting Information System can help university management in taking strategic decisions reducing the impact of the perfect storm
Identify the product's target market at home and in your stated foreign market. Indicate the competition of the product category in both home and foreign markets.
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