Reference no: EM131619720
Problem - On January 1, 2017, Flint Corporation issued $4,060,000 of 10-year, 9% convertible debentures at 104. Interest is to be paid semiannually on June 30 and December 31. Each $1,000 debenture can be converted into 8 shares of Flint Corporation $101 par value common stock after December 31, 2018.
On January 1, 2019, $406,000 of debentures are converted into common stock, which is then selling at $111. An additional $406,000 of debentures are converted on March 31, 2019. The market price of the common stock is then $117. Accrued interest at March 31 will be paid on the next interest date.
Bond premium is amortized on a straight-line basis.
Make the necessary journal entries for:
(a) December 31, 2018.
(b) March 31, 2019.
(c) January 1, 2019.
(d) June 30, 2019.
Record the conversions using the book value method.
|
What is the stock value and market value
: Earley Corporation issued perpetual preferred stock with a 10% annual dividend. What is the stock's value?
|
|
What pollutants are present in your watershed
: What pollutants are present in your watershed, Environmental Protection Agencys EPA Surf Your Watershed Site
|
|
Information on the origins of exposure and cancer
: an introduction of your topic of choice (include some background information on the origins of exposure and cancer),
|
|
Provide an evaluation of the patients symptoms
: Provide an evaluation of the patient's symptoms and presenting problems within the context of a theoretical orientation.
|
|
Make the necessary journal entries for december
: On January 1, 2017, Flint Corporation issued $4,060,000 of 10-year, Make the necessary journal entries for: December 31, 2018
|
|
Chance of hiv transmission from mother to infant
: What are the factors that increase the chance of HIV transmission from mother to infant, and how the transmission occurs?
|
|
Explain the types of issues the agency addresses
: Explain the types of issues this agency addresses. Describe the impact this agency has on health care policy and delivery.
|
|
If the expectations theory of the yield curve is correct
: If the expectations theory of the yield curve is correct, what is the market expectation of the price that the bond will sell for next year?
|
|
Chance of hiv transmission from mother to infant
: What are the factors that increase the chance of HIV transmission from mother to infant, and how the transmission occurs?
|