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Problem - Bonds with Detachable Warrants - On July 1, 2019, Salem Corporation issued $3 million of 12% bonds payable in 10 years. The bonds pay interest semiannually. The bonds include detachable warrants giving the bondholder the right to purchase for $30, one share of $1 par value common stock at any time during the next 10 years. Salem sold the bonds for $3 million. The value of the warrants at the time of issuance was $200,000.
Required - Prepare in general journal format the entry to record the issuance of the bonds.
They are issued at $292,181 and their market rate is 8% at the issue date. Make a straight-line amortization table for the bonds' first two years
lutz manufacturing company produces a product in two departments 1 mixing and 2 finishing. the company uses a process
accounts officers at xerox corporation discovered that significant errors have been made in the valuation of inventory
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marick inc has an unfunded postretirement health care benefit plan. life insurance and medical benefits are provided to
Prepare a Statement of Revenues, Expenditure, and Changes in Fund Balance for the courthouse annex capital project fund
Dec. 1 Declared a 10% stock dividend on common stock when the market value of the stock was $12 per share. Make the retained earnings statement for the year
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If managers decide to introduce the new leather briefcase, how many units of each briefcase would be required to break even in the coming year
How would this agreement be reported on White's December 31, 2019, balance sheet (assume the note payable is short-term)
Past history says that tomorrow's demand for lettuce averages 240 boxes with a standard deviation of 36 boxes.
As a result of the coronavirus crisis, banks worldwide are bracing for substantial bad debt build ups over the coming months and also in 2021.
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