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Question - On Jan. 1, 2021, GO Corporation issued P7,500,000 face amount, 5-year bonds at 111. Each P1,000 bond was issued with 50 detachable share warrants, each of which entitled the bondholder to purchase one ordinary share of P5 par value at P30. Immediately after issuance, the market value of each warrant was P10.
The stated interest rate on the bonds is 11% payable annually every Dec. 31. However, the prevailing market rate of interest for similar bonds without warrants is 12%. The present value of 1 at 12% for 5 periods is 0.57 and the present value of an ordinary annuity of 1 at 12% for 5 periods is 3.60.
How much should be reported as equity component arising from the issuance of bonds payable?
How much should be recorded as share premium if all of the warrants are exercised?
The organization declared a 36% stock dividend. Prepare the journal entry to record the declaration and distribution (on November 1, 2020) of the dividend
Cash-related production costs are budgeted at $7 per unit produced. Calculate the budgeted cash receipts for each month for Watson Company
If the balance of the cash account is $185,000 at the end of the month, what was the cash balance at the beginning of the month
Continue to receive and record the interest payments. Given this information, how do you think this bond should be classified in Tiny Co's financial statements?
What are your recommendations to improve the accuracy of valuation analysis? (Alternatively: based on all work done by KKP - do you recommend them to proceed
Ivanhoe Corporation had net income of $53,700 for the year ended December 31, 2020, Determine an incremental per share effect for 3% preferred shares
Chuck has AGI of $70,000 and has made the following payments. Calculate the amount of taxes that Chuck can deduct on his itemized deductions
On the date of issuance, the share was trading on a public exchange at P140. By what amount should the share premium account increase
Cost of changes during construction to make the condominium more energy efficient 3,000,000. Compute for the total cost of the condominium
Record the adjusting entry necessary as a direct result of the change as well as any adjusting entry for 2021 related to the situation described
After a business meeting with a prospective client, Holly took the client to dinner and the theatre. What amount of these expenditures can holly deduct
Prepare Affiliated Tech's journal entries to record repayment of the note and record the issuance of the note.
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