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Question - On January 1, 2020, ABC Company issued P50,000,000, 3-year convertible bonds at par with the following considerations:
(a) there were no issue costs related
(b) the coupon rate is 10%, payable annually in arrears on December 31
(c) the bond is redeemable at par on January 1, 2023
(d) bonds issued by similar companies without any conversion rights currently bear interest at 15%
Required - Prepare the necessary journal entries assuming the bondholders:
a. opted for conversion
b. opt for cash payment
What portion of the tax benefit of tax-free interest will Tru recognize on its 2011 financial statements?
Question - Net Present Value, Internal Rate of Return, Payback, Accounting Rate of Return, and Taxes. Calculate the internal rate of return of the investment
Why was the average number of common shares used in the diluted earnings per share computation more than the weighted average number of common shares
Archer Inc. issued $4,000,000 par value, 7% convertible bonds at 99 for cash. If the bonds had not included the conversion feature, they would have sold for 95. Prepare the journal entry to record the issuance of the bonds.
How much money does he need to deposit into the annuity each quarter for the annuity to have a total value of $72,000 after 16 years
Maxine's Pumps (MP) sells bilge pumps for $250 each. What is MP's operating income (NOI) when 10,000 pumps are sold
Please prepare solutions to the following questions concerning topics covered in the first half of the course
For each semiannual period, compute (a) the cash payment, (b) the straight-line premium amortization, and (c) the bond interest expense.
Compute the number of shares that should be used for the computation of diluted earnings per share for the year ended December 31, 2019
assume that the president of ice mountain water co. made the following statement in the annual report to
Describe appropriate audit tests the auditor may perform to determine if there are any errors or irregularities in their sales ordering system
Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number
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