Prepare the entries g should make on

Assignment Help Accounting Basics
Reference no: EM132803352

Problem 1: G issued $5,000,000 of 2%, 5-year convertible bonds on 07-01-14 when the market rate for similar bonds was 2.25%. The bonds were dated 07-01-14 with interest payable January 01 and July 01. G incurred and paid $45,000 of bond issuance costs. On 01-01-18 after making its interest payments, 25% of the bonds were converted into 12,500 shares of G's $1 par value common stock. At the time of the conversion, one share of G's common stock was trading for $124 per share. G only prepares AJEs every December 31. Prepare the entries G should make on:

(a) 07-01-14
(b) 12-31-14
(c) 12-31-17
(d) 01-01-18
(e) 12-31-18

Reference no: EM132803352

Questions Cloud

Prepare a merchandise purchases budget : Prepare a merchandise purchases budget showing how many units should be purchased for each of the months April, May, and June
What is the stock current value per share : Harrison Enterprises just paid a dividend of $3.00 per share. Future dividends are expected to grow at a constant rate of 6% and the required return
Make a memo for our payroll department outlining : Make a memo for our payroll department outlining our responsibilities and obligations under a legal or garnishment order. Our department has not processed legal
What is the stock value-pollock inc : Pollock, Inc. has perpetual preferred stock outstanding that has a par value of $100, pays an 8% annual dividend, and currently yields 11%.
Prepare the entries g should make on : One share of G's common stock was trading for $124 per share. G only prepares AJEs every December 31. Prepare the entries G should make on
What is the current price per share : If the firm has $200 million of debt and 10 million shares outstanding, what is the current price per share? The WACC is 12%.
What the predicted chargeable hours next year is : The firm currently has a 30% market share and this is expected to grow to 40% next year. The predicted chargeable hours next year is
What is the present value of cd : What is the present value of CD with 4% annual interest that matures in 1 year with a value of $3000? If you had $3,000 right now, with the same rates for the s
Determine the value of the viatical settlement : From a financial standpoint what factors determine the value of the viatical settlement, From an investor's perspective?

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the purpose of accounting for depreciation

What is the purpose of accounting for depreciation? Is the president's proposal within the scope of generally accepted accounting principles?

  Calculate selina net tax payable or refundable

Fully franked dividend from PPP Ltd $9,800 (with franking credit $4,200) Calculate Selina's net tax payable or refundable

  Calculate the net present value of this investment

The ride would cost €450.000 and has an expected useful life of 5 years. Calculate the net present value of this investment

  Estimate what is the price variance

What is the price variance?Budget cover: 2,000. Budget average check: $8. Actual covers: 2,100. Actual average check: $8.25.

  How do identify the essential elements of joint arrangement

How do Identify the essential elements of Joint arrangement. Use examples to elaborate your answer. You can make a diagram or a matrix if needed

  Determine the lifo liquidation profit or loss

Disregarding income tax, determine the LIFO liquidation profit or loss, if any, for each of the three years.

  Calculate the npv on both cars

The transmission needs to be replaced and there are several other repairs that need to be done. Calculate the NPV on both Cars

  Journalize and post the adjusting entries

Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. During July, the company completed. Journalize and post the adjusting entries.

  Make the service revenue sales budget for 2012 by listing

garza and neely cpas are preparing their service revenue sales budget for the coming year 2012. the practice is divided

  Controlling interest in consolidates net income

On jan 1 2011 pearce com purchased an 80% interest in the capital stock of searl com for 2460000. at the time searl co had capital stock of 1500000 amd retaines earnings of 300000. Calculate the controlling interest in consolidates net income for 2..

  Determine whether mee kong is resident for for tax purposes

Mee Kong, a Malaysian citizen, has been in Australia for 10 months on working holiday visa, Determine whether Mee Kong is a resident for tax purposes

  Company acquistion-purchase-pooling methods

Axel Corporation acquires 100% of the stock of Wheal Company on December 31, Year 4. The following information pertains to Wheal Company on the date of acquisition:

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd