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Question - On January 1, 2020, when the fair value of its common shares was $86 per share, Sunland Corp. issued $11 million of 7% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into 4 common shares. The debentures were issued for $11.9 million. The bond payment's present value at the time of issuance was $9.4 million and the corporation believes the difference between the present value and the amount paid is attributable to the conversion feature. On January 1, 2021, the corporation's common shares were split 3 for 1, and the conversion rate for the bonds was adjusted accordingly. On January 1, 2022, when the fair value of the corporation's common shares was $121 per share, holders of 25% of the convertible debentures exercised their conversion option. Sunland Corp. applies ASPE, and uses the straight-line method for amortizing any bond discounts or premiums. Using the book value method, prepare the entry to record the exercise of the conversion option.
The value of the land (in its entirety) is as follows: $2 million in May year 1, Discuss the transfer tax ramifications of these transactions
Prepare Addams's November 1 entry, December 31 annual adjusting entry, and May 1 entry for the collection of the note and interest.
pretend your client is the owner of a privately held manufacturing company with two operational subsidiaries.your
The liabilities of Jantz Company are $97,140 and the stockholders' equity is $231,800. What is the amount of Jantz Company's total assets
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Assume that you and two friends are debating whether to open an automotive and service retail chain that will be called Auto-Mart. Initially, Auto-Mart.
William Hunting Ltd has been operating in Sydney since 1984. Calculate the standard deviation of these returns
What is the fair value of inventory in company B? In 1/1/2019 company A consolidated with company B, and this result on company C, book values of inventory
What factors do you think tend to be most important for a potential project to survive this first phase of the life cycle?
The first payment will occur 6 months from today. The semi-annual interest rate is 5%, compounded quarterly. What is the net present value of the machine
If overhead for the year was $62,000, make an income statement to calculate the profits of each of the two services, commercial and residential
The balance sheet of Mister Ribs Restaurant reports current assets of $ 30,000 and current liabilities of $ 15,000. Calculate and interpret the current ratio. Does it appear likely that Mister Ribs will be able to pay its current liabilities as they ..
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