Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Volker Inc. issued $2,500,000 of convertible 10-year bonds on July 1, 2012. The bonds provide for 12% interest payable semiannually on Jan 1 and July 1. The discount in connection with the issue was $54,000, which is being amortized monthly on a straight-line basis. The bonds are convertible after one year into 8 shares of Volker Inc.'s $100 par value common stock for each $1000 of bonds. On August 1, 2013, $250,000 of bonds were turned in for conversion into common stock. Interest has been accrued and paid as due. At the time of conversion, any accrued interest on bonds being converted is paid in cash. Prepare the journal entries to record the conversion, amortization, and interest in connection with the bonds as of the following dates. (round to the nearest dollar) A. August 1, 2013 (assume book value method is used B. August 31, 2013 C. December 31, 2013, including closing entries for end-of-year The attatchment the prof gave us also has tables ot fill in. 1. Unamortized discount on bonds payable and it starts with Amount to be amortized over 120 months 2. Amortization of bond discount charged to bond interest expense in 2013 would be as follows 3. Interest on Bonds: 4.Interest for 2013 would be as follows: 5.Total interest
sonesta sold equipment for cash income statement shows a loss on sale of 5000. book value of the asset prior was 24000.
what is the difference between a data flow diagram for the sales process and a system flowchart describing the sales
Analysts often take a short cut in estimating a firm's cash from operations: they just add depreciation back to net income. What is the greatest shortcoming of this approach?
On January 1, 2010, Huber Co. sold 12% bonds with a face value of $600,000. The bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $646,200 to yield 10%. Using the effective-interest m..
gull inc. is considering the acquisition of equipment that costs 480000 and has a useful life of 6 years with no
A master budget is a detailed and comprehensive analysis of organizations long- and short-term goals. 1. Identify the major inputs to the master budget and the usefulness of each.
find the annual installment necessary to pay off a four year 8 32 million note. prepare entries to record the first and
What is possible "consequence" of using the allowance method rather than the direct write-off method? The method fits the matching principle, is GAAP, the SEC likes it better, sounds better for investors, what could be bad?
Which notion recognizes that mere appreciation in value does not necessarily mean that the owner has the resources to pay the tax associated with the appreciation..
on january 1 2008 jeremiah corporation had 40000 of 12 par value common stock outstanding. on june 1 2008 jeremiah
the management of thews corporation is considering dropping product e28i. data from the companys accounting system
Mr. Hines spent the entire 6200 on tuition, books and supplies. What amount must Mr. Hines include in his income for 2010
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd