Prepare the journal entry for Branson to record the issuance

Assignment Help Accounting Basics
Reference no: EM132888770

Problem - On January 1, 2019, Branson Corporation issued $500,000 of convertible bonds at par value. The bonds were issued with a stated interest rate of 3%. Each $1,000 bond is convertible into 20 shares of the corporation's $1 par value common stock. Branson may also elect to settle bonds with a cash payment in lieu of issuing stock. Similar bonds without the conversion feature would have sold for $455,000. Prepare the journal entry for Branson to record the issuance of the convertible bonds.

Reference no: EM132888770

Questions Cloud

Calculate the cost of equity using the capital asset pricing : Elsa Holdings, Calculate the weighted average cost of capital (WACC). Use the Gordon Growth Model to calculate the cost of equity.
Make the journal entry for Boater to record the issuance : Boater's incremental borrowing rate is 9%. The asset has a useful life of 7 years. Make the journal entry for Boater to record the issuance of the note
What strategy should entrepreneur employ : What strategy should an entrepreneur employ when selecting a personal board, an advisory board, or a board of directors?
Communicating aggregated data to staff in healthcare setting : LIst 2 effective methods of communicating aggregated data to staff in a healthcare setting. What are 2 advantages and 2 disadvantages of using an EMR?
Prepare the journal entry for Branson to record the issuance : Similar bonds without the conversion feature would have sold for $455,000. Prepare the journal entry for Branson to record the issuance
Describe social situation in context of social psychological : Explain the social situation in the context of social psychological theory and research, and appraise the factors that impact your behavior
Prepare the journal entry for Nolan to record the conversion : The market value of Nolan's common stock is $50 per share. Using the book value method, prepare the journal entry for Nolan to record the conversion
What are the limitations of dashboards : Explain how executive dashboards can lead to better business insights. What are the limitations of dashboards?
Calculate the value to be assigned to the bonds : On January 1, 2019, Langdon & Co. issues bonds with a face value of $50,000 for $51,000. Calculate the value to be assigned to the bonds

Reviews

Write a Review

Accounting Basics Questions & Answers

  How would the transaction be recorded by bentley

How would the transaction be recorded by Bentley? Bentley Landscaping agreed to provide $8,200 of services to a customer "on account"

  What the relative advantages and disadvantages of system

Which system (MRP-II or lean manufacturing) does each company use? What are the relative advantages and disadvantages of each system

  Describe the principal lines of business for Securities firm

Describe the principal lines of business for Securities firms. Explain why double leverage ratio should be considered for Securities firms

  Show the journal entry that Bland Co should make

Show the journal entry that Bland Co. should make on its books to implement pushdown accounting on January 1, 2020

  Prepare the journal entry at december

Prepare the journal entry at December 31 (Harper's year-end) for 2017, 2018, and 2019 to record the fair value option for these notes

  Make depreciation schedule which shows annual depreciation

Instructions - Make a depreciation schedule which shows the annual depreciation expense on the machine for its 5 year life

  What is the firm wacc

Target capital structure: 30% debt, 15% preferred, and 55% common equity. The after-tax cost of debt is 4.50%, the cost of preferred is 8.00%, and the cost of retained earnings is 12.00%. The firm will not be issuing any new stock. What is the fir..

  How would the company record the required adjusting entry

How would the company record the required adjusting entry for this item

  Jessica alba a famous actress starts the baby and family

jessica alba a famous actress starts the baby and family products business the honest company with christopher gavigan.

  Sunshine cos bookkeeper recorded a check as 693 on the

the following items are from the bank reconciliation of sunshine co. for the month ended february 292000. where does

  Do you believe that internal management accountants possess

as the management accountant at ajack partnership you are involved in the planning and control of financial statements

  How the ifrs and the codification are related

How the IFRS and the Codification are related? How to measure fair value and in some cases the guidance was conflicting.

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