List the journal entry to record matello transaction

Assignment Help Accounting Basics
Reference no: EM132462139

Matello Corporation is a regional company which is an SEC registrant. The corporation's securities are thinly traded on NASDAQ. Matello Corp. has issued 17,500 units. Each unit consists of a $875 par, 12% subordinated debenture and 18 shares of $9 par common stock. The units were sold to outside investors for cash at $1,540 per unit. Prior to this sale, the 2-week ask price of common stock was $70 per share. Twelve percent is a reasonable market yield for the debentures, and therefore the par value of the bonds is equal to the fair value.

Question (a) List the journal entry to record Matello transaction, under the following conditions.

point (1) Employing the incremental method.

point (2) Employing the proportional method, assuming the recent price quote on the common stock reflects fair value.

Reference no: EM132462139

Questions Cloud

Define quality in relation to internal and external consumer : Managers in healthcare have a legal and moral obligation to ensure high standards of quality and patient safety are provided. As a healthcare leader.
Determine what is the current ratio : Determine What is the Current Ratiogiven the following information? Current Assets - $477.50 ,Inventory - $275 , Current Liabilities - $1,075
Why culturally competent services are important : You are a junior administrator in a small hospital. The clinical staff in the hospital have done a good job in ensuring that patient care falls in line with.
How health care in the united states has evolved : Provide an overview of how health care in the United States has evolved since the postindustrial period. How has the evolution of medical technology, graduate.
List the journal entry to record matello transaction : List the journal entry to record Matello transaction, under theEmploying the proportional method, assuming the recent price quote on the common stock reflects
Define how you would build a health history for the patient : Case Study Assignment: Assessment Tools and Diagnostic Tests in Adults and Children. Consider how you would build a health history for the patient.
Why the article may or may not provide sufficient evidence : Discuss one strength and one weakness for each of these six articles on why the article may or may not provide sufficient evidence for your practice change.
Identify clinical problems that arise from clinical care : A PICOT question starts with a designated patient population in a particular clinical area and identifies clinical problems or issues that arise from clinical.
Determine a plant assets cost : Recognizes revenues when cash is received and recognizes expenses when cash is paid out.A plant asset's cost less its accumulated depreciation.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Jurassic company owns machinery that cost 996300 and has

jurassic company owns machinery that cost 996300 and has accumulated depreciation of 398520. the expected future net

  The earnings and dividends of nebula computer co are

the earnings and dividends of nebula computer co. are expected to grow at an annual rate of 15 percent over the next 4

  Dfine and describe the term intangible asset what major

define and describe the term intangible asset. what major characteristics differentiate intangible assets from other

  Determine the missing hypothesis test characteristic

In the following, given α = 0.05 and σ = 1.0, determine the missing hypothesis test characteristic parameter for a two-sided, 1-sample z-test:

  The following selected accounts appear in adjusted trial

the following selected accounts appear in the adjusted trial balance columns of the worksheet for goulet

  Compute perezs working capital before and after issuing note

Compute Perez's working capital before and after issuing the note. Compute Perez's current ratio before and after issuing the note.

  Favorable or unfavorable variable overhead spending variance

Did Blackstar have a favorable or unfavorable variable overhead spending variance during 2017?

  Determine the weighted average number of shares

On January 1, 2010, Chang Corp. had 480,000 shares of common stock outstanding. Determine the weighted average number of shares outstanding as of December

  What is a realistic budget

In your opinion, what is a realistic budget? How is creating a realistic budget accomplished. How are the master budget and the production budget related

  Show the before-and-after effects of each option

President Joan Elbert is considering either a 10% stock dividend or a 2-for-1 stock split. She asks you to show the before-and-after effects of each option on retained earnings and total stockholders' equity.

  Compute the new capital accounts for partners

Assume that Partners A and B each report a Capital Account of $650,000. Partner C wants to join the partnership as an equal one-third partner.

  Calculate the annual holding period return

ACC515 Accounting and Finance - Charles Sturt University - Calculate the risk for 2018 as measured by standard deviation of both BHP and the MKT

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd