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On December,31 2014 Herndon Corp. issues 5.5%, 10 year convertible bonds payable with a maturity value of $4,000,000.The semi-annual interest dates are June 30 nd December 31.Herndon Cop. amortizes bonds by the effective-interest method.
1. Journalize the following transactions
a. Conversion by the bondholders on July 1 2016, of bonds with face value of $1,600,000 into 120,000 shares of Herndon Corp.'s shares of $1-par stock.
b. Show how Herndon would report the remaining bonds payable on a balance sheet on December 31, 2016
Using the analyses in Parts a-d, evaluate the extent of the market's mispricing (if any) of Steak 'n Shake. Compute the risk-neutral value of Steak 'n Shake as of January 1, Year +1, using a risk-free rate of 4.2 percent.
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digging foundation for the road, $3,000; laying and paving driveway, $25,000; lighting $7,500; signs $1,500. list out the items and amounts that should be included in the land account
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Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were o..
Cost of goods sold for 2015 totaled $1,200,000 and total manufacturing costs incurred during the year were $1,240,000. Determine (a) the direct labor costs for 2015 and (b) the work in process inventory on December 31, 2015.
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