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On March 1, 2020, Cullumber Corporation issued $300,000 of 6% non-convertible bonds at 105, which are due on February 28, 2040. In addition, each $1,000 bond was issued with 25 detachable stock warrants, each of which entitled the bondholder to purchase one of Cullumber's no par value common shares for $50. The bonds without the warrants would normally sell at 94. Cullumber prepares its financial statements in accordance with IFRS.
a) Provide a journal entry
Using the accrual basis revenue on the income statement was $124,320. Accounts receivable were $3,320 on January 1 and $3,600 on December 31. Unearned revenue was $1,040 on January 1 and $1,690 on December 31. Calculate the revenue for the year on a ..
Which product would be selected in a decision that involves the utilization of a constrained resource?
The regular common and preferred dividends were paid in 2009. Compute basic and diluted earnings per share for 2009.
For the business ofJ. Charles, wholesale chemist, classify the following between capital and revenue expenditure:- Purchase of an extra van.
Explain how much taxable compensation is the equivalent of $7,500 of exempt compensation for each of the three classes of employees?
Prepare journal entries to record the transactions for April and post them to the ledger accounts. The company records prepaid and unearned items.
The president of the retailer Prime Products has just approached the company’s bank with a request for a $30,000, 90-day loan. The purpose of the loan is to assist the company in acquiring inventories. Prepare a schedule of expected cash collections ..
After the partnership has been operation for a year, the Capital accounts of Bob and Kim are $15,000 and $10,000, respectively. Sonia buys a one-fourth interest in the partnership by investing cash of $5,000. What will be the Capital account balances..
what amount should Slide report as the cumulative effect on the statement of retained earnings - FIFO method of inventory valuation to the weighted-average
Accounts Receivables includes customer or noncustomer transactions with interest component. Trade Discounts can be accounted under the gross and net method: Land could include additional land improvements that have an indefinite life. Cost of buildin..
A contractor has been awarded the contract for the construction of a small shopping center. The contractor has decided to use crawler tractors with dozer blades to remove the vegetation and topsoil from the project site, but is unsure which size trac..
Bouchard Company's stock sells for $20 per share, its last dividend was $1.00, and its growth rate is a constant 6%. What is its required rate of return?
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