Prepare journal entries as follows:
For each of the unrelated transactions described below, present the entries required to record each transaction....
For each of the unrelated transactions described below, present the entries required to record each transaction. 1. Nash Corp. issued $21,000,000 par value 9% convertible bonds at 99. If the bonds had not been convertible, the company's investment banker estimates they would have been sold at 95. Crane Company issued $21,000,000 par value 9% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for...
For each of the unrelated transactions described below, present the entries required to record each transaction. 1. Culver Corp. issued $18,000,000 par value 10% convertible bonds at 99. If the bonds had not been convertible, the company’s investment banker estimates they would have been sold at 95. 2. Larkspur Company issued $18,000,000 par value 10% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling...
or each of the unrelated transactions described below, present the entries required to record each transaction. 1. Whispering Corp. issued $21,300,000 par value 9% convertible bonds at 97. If the bonds had not been convertible, the company’s investment banker estimates they would have been sold at 95. 2. Metlock Company issued $21,300,000 par value 9% bonds at 96. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling...
For each of the unrelated transactions described below, present the entries required to record each transaction. 1 Pronghorn Corp. issued $20,600,000 par value 9% convertible bonds at 99. If the bonds had not been convertible, the company's investment banker estimates they would have been sold at 95. Stellar Company issued $20,600,000 par value 9% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for...
For each of the unrelated transactions described below, present the entries required to record each transaction 1. Grouper Corp. issued $21,700,000 par value 10% convertible bonds at 97. If the bonds had not been convertible, the company's investment banker estimates they would have been sold at 95 2. Monty Company issued $21,700,000 par value 10% bonds at 96. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling...
Exercise 16-1 For each of the unrelated transactions described below, present the entries required to record each transaction. Carla Corp. issued $20,100,000 par value 10 % convertible bonds at 98. If the bonds had not been convertible, the company's investment banker estimates they would have been sold at 95 Sarasota Company issued $20,100,000 par value 10 % bonds at 97. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants...
For each of the unrelated transactions described below, present the entries required to record each transaction. 1. Novak Corp. issued $20,300,000 par value 11% convertible bonds at 99. If the bonds had not been convertible, the company’s investment banker estimates they would have been sold at 95. 2. Splish Company issued $20,300,000 par value 11% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling...
For each of the unrelated transactions described below, present the entries required to record each transaction. 1. Tamarisk Corp. issued $20,100,000 par value 10% convertible bonds at 98. If the bonds had not been convertible, the company’s investment banker estimates they would have been sold at 95. 2. Vaughn Company issued $20,100,000 par value 10% bonds at 97. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling...
For each of the unrelated transactions described below, present the entries required to record each transaction. 1. Martinez Corp. issued $19,500,000 par value 11% convertible bonds at 98. If the bonds had not been convertible, the company’s investment banker estimates they would have been sold at 95. 2. Sandhill Company issued $19,500,000 par value 11% bonds at 97. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling...
E16-1 (L01,2) EXCEL (Issuance and Conversion of Bonds) For each of the unrelated transactions described below, present the entry (ies) required to record each transaction. 1. Grand Corp. issued $20,000,000 par value 10% convertible bonds at 99. If the bonds had not been convertible, the com pany's investment banker estimates they would have been sold at 95. 2. Hoosier Company issued $20,000,000 par value 10% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value...