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Question - On December 31, 2018, after recording interest and amortization, Lyka Company converted P5,000,000 of 12% convertible bonds into 50,000 shares of P50 par value. On the conversion date, the carrying amount of the bonds payable was P6,000,000, the market value of the bonds was P6,500,000, and the share was publicly trading at P150. The entity incurred P100,000 in connection with the conversion. When the bonds were originally issued, the equity component was recorded at P1,500,000. What amount of share premium should be recorded as a result of the conversion?
Dec. 10 established a warranty liability for the XY-80, a new product. Sales are expected to total 1,000 units during a month. Past experience with similar products indicates that 3% of the units will require repair, with warranty costs averaging $27..
P50,000 on the same date., three hours after formation of the partnership. How much should be the capital balance of EE right after formation?
The end of the year is approaching, and Maxine has begun tofocus on ways of minimizing her income tax liability. Several years ago she purchased an investment in Teal Limited Partnership, which is subject to the at-risk and the passive activity loss ..
Creating a history about the Home of Credit Company. This is the logo of the company , Make a history about it or an example history about it .
Four months prior to year-end, 6 % special assessment bonds totaling $500,000 were issued to fund a steetlight improvement project in a local subdivision. Debt Service Fund:. Record the issue of special assessment bonds. Record the current and deferr..
Aspen Co. acquired 40% of the outstanding voting common shares of Vail Co. for $700,000 on January 1, 2014. On that date, Vail reported assets and liabilities with book values of $2.2 million and $700,000, respectively. Calculate the Equity in Vail’s..
How much has total revenue gone up or down the last couple of years? Why do you think this happened? Remember, a number is just a number
What is the average selling price for each share of preferred stock? Preferred Stock, $5 par, 10,000 shares authorized, Additional paid-in capital - preferred
How do Chaz and the corporation treat the $5,000 distribution?- Determine the total amount of the payment and its tax treatment to Chaz and the corporation.
The journal entry a company uses to record pension rights that have not been funded for its salaried employees at the end of the year is-
Cash dividend of 2019, P1,000,000 and cash dividend of 2020, P1,500,000. Prepare journal entries on the books of Brave for 2019 and 2020
$18,000 and it is expected to run for 15 years. Your opportunity cost of capital is 3 percent. Ignore taxes. When should you buy the new Hyundai?
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