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On March 1, 2010, Ruiz Corporation issued $800,000 of 8% nonconvertible bonds at 104, which are due on February 28, 2030. In addition, each $1,000 bond was issued with 25 detachable stock warrants, each of which entitled the bondholder to purchase for $50 one share of Ruiz common stock, par value $25. The bonds without the warrants would normally sell at 95. On March 1, 2010, the fair market value of Ruiz's common stock was $40 per share and the fair market value of the warrants was $2.00. What amount should Ruiz record on March 1, 2010 as paid-in capital from stock warrants?
a) $28,800
b) $33,600
c) $41,600
d) $40,000
Prepare journal entries(excluding budgetary and closing entries) to record the following property tax related transactions in which the country engaged in 2007 and 2008.
Which is not a GAAP for investments in equity securities? a. replacement value method b. market value method c. Equity method d. consolidation
Brandywine Homecare, a not-for-profit business, had revenues of 12 million in 2007. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was 1.5 million.
A trial balance that has total debits of $20,000 and total credits of $24,500. Which of error would cause the imbalance?
Under Carl's will, Carl created a testamentary trust to be funded with $700,000 worth of assets. All of the income of the trust is payable to Carl's child, Jane, for her life, and thereafter, the remaining assets of the trust will pass to The Publ..
Interest is at 12%. Assume cash flows occur at the end of the year. Calculate the total present value of the cash flows.
Which of the following statements is correct concerning changes from year 1 to year 2 at Tripe Corp?
The sausage system will save the firm $256,800 per year in pretax operating costs, and the system requires an initial investment in net working capital of $59,920.
Determine Hassell's and Lawson's participation in the year's net income of $378,000 under each of the independent assumptions above.
What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements?
Mobile Battery features more than a dozen brands of batteries in many sizes. Two of the brands are PowerPlus and SuperPower. The following information about the two brands was obtained.
You have been running a sole-proprietorship business dealing in cosmetic products. You have been accurately recording all your sale and purchase transactions in journals and using the journals in the general ledger accounts.
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