Tyrell Company issued callable bonds with a par value of $10,000. The call option requires Tyrell...
Tyrell Company issued callable bonds with a par value of $10,000. The call option requires Tyrell to pay a call premium of $500 plus par (or a total of $10,500) to bondholders to retire the bonds. On July 1, Tyrell exercises the call option. The call option is exercised after the semiannual interest is paid the day before on June 30. Record the entry to retire the bonds under each separate situation. 1. The bonds have a carrying value of $9,000. 2. The bonds have a carrying value of $11,000.
Homework Answers
Answer:
| Date | Accounts title | Debit($) | Credit($) |
| Jul-01 | Bonds Payable | $10000 | |
| Loss on redemption | $1,500 | ||
| Discount on Bonds Payable [10000 - 9000] | $1,000 | ||
| Cash [10000 + 500] | $10,500 | ||
| Date | Accounts title | Debit | Credit |
| Jul-01 | Bonds Payable | $10,000 | |
| Premium on Bonds Payable [11000 - 10000] | $1,000 | ||
| Gain on redemption of bonds | $500 | ||
| Cash [10000 + 500] | $10,500 |
Add Answer to:
Tyrell Company issued callable bonds with a par value of
$10,000. The call option requires Tyrell...
Tyrell Company issued callable bonds with a par value of $40,000. The call option requires Tyrell...
Tyrell Company issued callable
bonds with a par value of $40,000. The call option requires Tyrell
to pay a call premium of $500 plus par (or a total of $40,500) to
bondholders to retire the bonds. On July 1, Tyrell exercises the
call option. The call option is exercised after the semiannual
interest is paid the day before on June 30. Record the entry to
retire the bonds under each separate situation. 1. The bonds have a
carrying value of...
On July 1, Aloha Co. exercises a call option that requires Aloha to pay $265,200 for...
On July 1, Aloha Co. exercises a call option that requires Aloha to pay $265,200 for its outstanding bonds that have a carrying value of $268,200 and par value of $260,000. The company exercises the call option after the semiannual interest is paid the day before on June 30. Record the entry to retire the bonds.
I need help with the whole question. I need explanation and solution Please and Thank you....
I need help with the whole question. I need explanation and
solution Please and Thank you.
Connect Homework - Chapter 10 0 Saved Help Save & Exit Submit Exercise 10-10 Bond retirement by call option LO P4 Tyrell Company issued callable bonds with a par value of $28,000. The call option requires Tyrell to pay a call premium of $500 plus par (or a total of $28,500) to bondholders to retire the bonds. On July 1, Tyrell exercises the call...
On July 1, Aloha Co. exercises a call option that requires Aloha to pay $306,000 for...
On July 1, Aloha Co. exercises a call option that requires Aloha to pay $306,000 for its outstanding bonds that have a carrying value o $308,600 and par value of $300,000. The company exercises the call option after the semiannual interest is paid the day before on June 30. Record the entry to retire the bonds. View transaction list Journal entry worksheet Record the retirement of bonds before maturity. Note: Enter debits before credits. Date General Journal July 01 Debit...
On January 1, 2018, Madison Products issued $40.3 million of 8%, 10-year convertible bonds at a...
On January 1, 2018, Madison Products issued $40.3 million of 8%,
10-year convertible bonds at a net price of $41.13 million. Madison
recently issued similar, but nonconvertible, bonds at 98 (that is,
98% of face amount). The bonds pay interest on June 30 and December
31. Each $1,000 bond is convertible into 30 shares of Madison’s no
par common stock. Madison records interest by the straight-line
method.
On June 1, 2020, Madison notified bondholders of its intent to call
the...
On January 1, 2021, Madison Products issued $40.1 million of 8%, 10-year convertible bonds at a...
On January 1, 2021, Madison Products issued $40.1 million of 8%, 10-year convertible bonds at a net price of $40.91 million. Madison recently issued similar, but nonconvertible, bonds at 98 (that is, 98% of face amount). The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 30 shares of Madison's no par common stock. Madison records interest by the straight-line method. On June 1, 2023, Madison notified bondholders of its intent to call the...
On January 1, 2021, Madison Products issued $40 million of 6%, 10-year convertible bonds at a...
On January 1, 2021, Madison Products issued $40 million of 6%, 10-year convertible bonds at a net price of $40.8 million. Madison recently issued similar, but nonconvertible, bonds at 99 (that is, 99% of face amount). The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 30 shares of Madison's no par common stock. Madison records interest by the straight-line method. On June 1, 2023, Madison notified bondholders of its intent to call the...
On January 1, 2018, Madison Products issued $41.4 million of 6%, 10-year convertible bonds at a...
On January 1, 2018, Madison Products issued $41.4 million of 6%, 10-year convertible bonds at a net price of $42.34 million. Madison recently issued similar, but nonconvertible, bonds at 99 (that is, 99% of face amount). The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 30 shares of Madison’s no par common stock. Madison records interest by the straight-line method. On June 1, 2020, Madison notified bondholders of its intent to call the...
On January 1, 2021, Madison Products issued $41.2 million of 8%, 10-year convertible bonds at a...
On January 1, 2021, Madison Products issued $41.2 million of 8%, 10-year convertible bonds at a net price of $42.12 million. Madison recently issued similar, but nonconvertible, bonds at 97 (that is, 97% of face amount). The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 30 shares of Madison’s no par common stock. Madison records interest by the straight-line method. On June 1, 2023, Madison notified bondholders of its intent to call the...
On January 1, 2018, Madison Products issued $41.5 million of 6%, 10-year convertible bonds at a...
On January 1, 2018, Madison Products issued $41.5 million of 6%, 10-year convertible bonds at a net price of $42.45 million. Madison recently issued similar, but nonconvertible, bonds at 98 (that is, 98% of face amount). The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 30 shares of Madison's no par common stock. Madison records interest by the straight-line method. On June 1, 2020, Madison notified bondholders of its intent to call the...
Tyrell Company issued callable
bonds with a par value of $40,000. The call option requires Tyrell
to pay a call premium of $500 plus par (or a total of $40,500) to
bondholders to retire the bonds. On July 1, Tyrell exercises the
call option. The call option is exercised after the semiannual
interest is paid the day before on June 30. Record the entry to
retire the bonds under each separate situation. 1. The bonds have a
carrying value of...
I need help with the whole question. I need explanation and
solution Please and Thank you.
Connect Homework - Chapter 10 0 Saved Help Save & Exit Submit Exercise 10-10 Bond retirement by call option LO P4 Tyrell Company issued callable bonds with a par value of $28,000. The call option requires Tyrell to pay a call premium of $500 plus par (or a total of $28,500) to bondholders to retire the bonds. On July 1, Tyrell exercises the call...
On July 1, Aloha Co. exercises a call option that requires Aloha to pay $306,000 for its outstanding bonds that have a carrying value o $308,600 and par value of $300,000. The company exercises the call option after the semiannual interest is paid the day before on June 30. Record the entry to retire the bonds. View transaction list Journal entry worksheet Record the retirement of bonds before maturity. Note: Enter debits before credits. Date General Journal July 01 Debit...
On January 1, 2018, Madison Products issued $40.3 million of 8%,
10-year convertible bonds at a net price of $41.13 million. Madison
recently issued similar, but nonconvertible, bonds at 98 (that is,
98% of face amount). The bonds pay interest on June 30 and December
31. Each $1,000 bond is convertible into 30 shares of Madison’s no
par common stock. Madison records interest by the straight-line
method.
On June 1, 2020, Madison notified bondholders of its intent to call
the...
On January 1, 2021, Madison Products issued $40.1 million of 8%, 10-year convertible bonds at a net price of $40.91 million. Madison recently issued similar, but nonconvertible, bonds at 98 (that is, 98% of face amount). The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 30 shares of Madison's no par common stock. Madison records interest by the straight-line method. On June 1, 2023, Madison notified bondholders of its intent to call the...
On January 1, 2021, Madison Products issued $40 million of 6%, 10-year convertible bonds at a net price of $40.8 million. Madison recently issued similar, but nonconvertible, bonds at 99 (that is, 99% of face amount). The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 30 shares of Madison's no par common stock. Madison records interest by the straight-line method. On June 1, 2023, Madison notified bondholders of its intent to call the...
On January 1, 2018, Madison Products issued $41.5 million of 6%, 10-year convertible bonds at a net price of $42.45 million. Madison recently issued similar, but nonconvertible, bonds at 98 (that is, 98% of face amount). The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 30 shares of Madison's no par common stock. Madison records interest by the straight-line method. On June 1, 2020, Madison notified bondholders of its intent to call the...
Most questions answered within 3 hours.
-
When a carbonate solution is acidified, carbon dioxide is
produced.
2H+(aq) + CO32-(aq) → H2O(l) +...
asked 36 minutes ago -
A reaction has the following rate law: Rate =
kr[A][B]2. In experiment 1, the
concentrations of...
asked 34 minutes ago -
king owns a large number of public pay phones. as rhe use of
payphones decline deamatically,...
asked 37 minutes ago -
3.7 - A book is sitting on a table. The mass of the book
is 1...
asked 53 minutes ago -
Which term describes the process by which a single strand of DNA
serves as a template...
asked 1 hour ago -
LAB FOOD DRING
ANSWER THE QUESTIONS:
Q1. What value is the moisture content versus time and...
asked 1 hour ago -
You are told that an object has zero acceleration. Two forces on
the object are: F_1...
asked 1 hour ago -
The usual starting point for preparing a master budget is
forecasting or estimating:
Multiple Choice
Sales....
asked 1 hour ago -
How to make a simple game in pygame where an object is randomly
falling from the...
asked 1 hour ago -
A postaudit is:
An evaluation of the effectiveness of the budgeting
committee.
An analysis of the...
asked 1 hour ago -
How does the period of a pendulum suspended from the ceiling of
an airplane change when...
asked 1 hour ago -
Consider the following C, C++, or Java assignment
statement:
value = value *
10;
Assume that...
asked 1 hour ago