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At the start of the year Huish Company issued $18,000,000 of 12% bonds along with warrants to buy 1,200,000 shares of its $10 par value common stock at $18 per share. The bond matures over the next 10 years, starting one year from date of issuance, with annual maturities of $1,800,000. At the time, Huish had 9,600,000 shares of common stock outstanding, and the market price was 423 per share. The company received $20,040,000 for the bonds and the warrants. For Huish Company, 12% was a relatively low borrowing rate. If offered alone, at this time, the bonds would have been issued at a 22% discount. Prepare the journal entry for the issuance of the bonds and warrants for the cash considered received.
Break even analysis utilizes both current and projected figures. In a rapidly changing economy, there are many individuals who are finding that their initial break even analyses were incorrect.
Ontario still had $60,000 of the goods in its inventory at the end of the year. The amount of unrealized intercompany profit which should be eliminated in the consolidation process at the end of 2006 is:
Swan Inc is an accural basis taxpayer. Swan uses the aging approach to calculate the reserve for bad debts. During 2010, the following occur associated with bad debts: What is the amount for bad debt expense?
Average cost per unit is $1.425 at the 16000 unit level of activity and $1.38 at the 20000 unit level of activity. What is the variable cost per unit? The total fixed cost per unit?
Is Maloney's strategy one of product differentiation or cost leadership? Explain briefly. Identify at least one key element that you would expect to see included in the balanced scorecard
What are the gift tax consequences of an irrevocable transfer of $10,000,000 in trust to grantor's son for life, with all income payable to son, then remainder to charity on son's death? Grantor makes no other transfers that year, and grantor is n..
With that said, is pursuit of ALL self interest in contract unethical? If not, at what point does it become unethical?
Wares is a division of a major corp. The following data are for the latest year of operations: division's return on investment
Straight-line amortization is used for discounts and premiums. On September 1, 2012, $3,000,000 of the bonds are called at 102 plus accrued interest. What gain or loss would be recognized on the called bonds on September 1, 2012?
The Johnson Manufacturing Company has the following job cost sheets on file. They represent jobs that have been worked on during March of the current year.
Why do you suppose the city hasn't attempted to "even out" the assets in the funds? Why does it not maintain funds for each of its major functional areas?
Suppose that in 2010, Global launches an aggressive marketing campaign that boosts sales by 15%.However, their operating margin falls from 5.57% to 4.50%. Suppose that they have no other income, interest expenses are unchanged, and taxes are the s..
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