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Madison Corp had two issues of securities outstanding-common stock and a 5 percent convertible bond issue in the face amount of $10,000,000. Interest payment dates of the bond issue are June 30 and December 31. The conversion clause in the bond indenture entitles the bondholders to receive 40 shares of $20 par value common stock in exchange for each $1,000 bond. On June 30, 2011, the holders of $1,800,000 face value bonds exercised the conversion privilege. The market price of the bonds on that dates was $1,100 per bond and the market price of the common stock was $35. The total unamortized bond discount at the date of conversion was $500,000. What amount should Madison credit to the account "Paid-In Capital in Excess of Par" as a result of this conversion, assuming Madison does not want to recognize any gain on the conversion?
Assume that total sales for January are budgeted to be $50,000. What are the expected cash receipts for January from the current and past sales?
Check out footnotes to financial statements and schedules for information regarding asset leases and, if possible, review for term, early payment, and bargain purchase clauses.
Peanut corporation exchanged land and cash of $6,500 for equipment. the land had a book value of $45,000 and a fair value of $34,000. assume the exchange has commercial substance. compute the gain or loss?
Fabert Corp uses the weighted-average method in its process costing system. The Assembly Department started the month with 16,000 units in its beginning work in process inventory that were 40% completed with respect to conversion costs.
abcs reclassified 3.85 billion of operating expenses as capital expenditures. explain the effect this reclassification
Please create a decision tree that shows the logical sequence of the decision problem with recommendation of whether ByComputers should initially invest in bonds or stocks?
garza and neely cpas are preparing their service revenue sales budget for the coming year 2012. the practice is divided
Why did Congress establish favorable treatment for 1231 assets?
preble company manufactures one product. its variable manufacturing overhead is applied to production based on direct
At the end of 20B, Storage Company reported outstanding common stock (par $20) of $300,000. Total liabilities were $440,000 and total assets were $860,000. The company had no preferred stock. The book value per share of common stock was
The township authorized a bond issue of $11 million for the construction of a pedestrian walkway as part of a downtown revitalization project. An additional $1 million of general revenues is to be used for the project. The authorization was record..
13,000 shares of common stock with a par value of $50 per share are issued in exchange for land and buildings. The property has been appraised at a fair market value of $810,000, of which $180,000 has been allocated to land and $630,000 to buildin..
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