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Aubrey Inc. issued $6.8 million of 9-year, 9%, convertible bonds on June 1, 2011, at 98 plus accrued interest. The bonds were dated April 1, 2011, with interest payable April 1 and October 1. Bond discount is amortized semi-annually on a straight-line basis. Bonds without conversion privileges would have sold at 97 plus accrued interest.On April 1, 2012, $1.70 million of these bonds were converted into 42,500 common shares. Accrued interest was paid in cash at the time of conversion but only to the bondholders whose bonds were being converted. Assume that the company follows IFRS.Instructions:(a) Prepare the entry to record the issuance of the convertible bonds on June 1, 2011.(b) Prepare the entry to record the interest expense at October 1, 2011. Assume that accrued interest payable was credited when the bonds were issued. (Round to nearest dollar.)(c) Prepare the entry(ies) to record the conversion on April 1, 2012. (The book value method is used.) Assume that the entry to record amortization of the bond discount using the straight-line method and interest payment has been made.(d) What do you believe was the likely market value of the common shares as of the date of the conversion of April 1,2012.
roo corporation budgeted sales for the next fiscal year are 7650000. roo estimates the following marketing and
Estimate the amounts of factory labor costs transferred to Work in Process and Factory Overhead for current month. Describe the effects on accounts and financial statements of factory labor costs transferred in(a)
in the month of june jose heberts beauty salon gave 4000 haircuts shampoos and permanents at an average price of 30.
Dustin and Penny are husband and wife and always have lived in Washington. At the time of Dustin's prior death in 2009, he was insured in the amount of $600,000 with Penny as the designated beneficiary.
videosoft company maintains a checking account at the intelex bank. at july 31 selected data from the general ledger
Imagine that your client, Hillside County Forest Preserve (HCFP)
you are thinking of investing in a field that may have commercial amounts of oil. based on the existing data of the
the following information is for employee wayne young for the week ended march 15.total hours worked 48rate 16 per hour
Examine Target for the years 2004-2006 and compare to Walmart. Comment on the relative liquidity and efficiency these firms. How does Target compare to Walmart? Would you invest in this company?
department store has budgeted sales of 13700 mens suits in september. management wants to have 7700 suits in inventory
declared semiannual dividends of 1.40 on 35000 shares of preferred stock and 0.09 on the common stock to stockholders
haywood company sells a single product with a contribution margin of 5 per unit fixed costs of 74400 and sales for the
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