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Gomez Company issues 8,000,000 of bonds with a coupon rate of 8%. to help the sale detachable stock warrants are issued a the rate of ten warrants for each 1,000 bond sold. It is estimated that the value of the bonds without the warrants is 7,896,000 and the value of teh warrants is 504,000. The bonds with the warrants sold at 101. Prepare a journal entry for the conversion of bonds into shares of stock.
A corporation reacquires 10,000 shares of its own $25 par common stock for $450,000, recording it at cost.
The Churchill Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning inventory of 20,000 units consisted of the following, listed in chronological order of acquisition: Calculate the before-tax ..
A significant deficiency is always a material weakness. A reportable condition is always a material weakness. A material weakness is less significant that a control deficiency.
the assets are treated as if they had been purchased outright.” Explain i s this the policy companies using U.S. GAAP follow in accounting for capital leases?
Determine the balance in the investment account after the shares had been sold What was the reported balance of Wells Investment in Wilson Co. at December 31, 2011?
For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, (2) enter debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance, and (3) identify the norma..
What financial reports can be prepared based on the trial balance? The process of accounting for businesses is moderated by a number of industry codes of practice and standards. Briefly explain the role of the AASB in relation to accounting standar..
What pretax amounts related to the lease would Georgia-Atlantic report in its balance sheet at December 31, 2011? Illustrate what pretax amounts related to the lease would Georgia-Atlantic report in its income statement for the year ended December ..
Computation of trend analysis for analysis financial statement - Using 2005 as the base year, prepare a trend analysis on the above data and tell whether the results suggest a favorable or unfavorable trend and why.
the ceo of smartphone apps llc is preparing a loan application. using the data below only prepare an income statement.
After graduating near the top of his class, Ben Naegle was hired by the local office of a Big 4 CPA firm in his hometown. Two years later, impressed with his technical skills and experience, Park Electronics, a large regional consumer electronics cha..
Find out the contribution margin in dollars, per unit, and as a ratio. Using the contribution margin technique, compute the break-even point in dollars and in units.
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