Homework Answers
Bank account Debit 20000
Premium on issue of common stock Credit 19000
Common stock of $ 1 par value Credit 1000
(Being common stock of $ 1 par value issued at $ 20 per share)
Add Answer to:
Work Out Problem: 1. Albert Corp. issued 2,000 shares of $50 par value preferred stock at...
II. Work-Out Problems (31 points) 1. (6 points) Albert Corp. issued 2,000 shares of $50 par value preferred stock...
II. Work-Out Problems (31 points) 1. (6 points) Albert Corp. issued 2,000 shares of $50 par value preferred stock at $70 per share on 3/1/2017. A warrant is attached to cach share of preferred stock to allow the holder to purchase one share of S1 par common stock at S20 per share. Immediate after the issuance, the preferred began selling ex-right on the market for $68 per share while the warrant began selling for $5 per share. On 4/20/2017, 1,000...
Problem 11 Irish, Inc. issues 1,000 shares of $100 par, 10% preferred stock with detachable warrants....
Problem 11 Irish, Inc. issues 1,000 shares of $100 par, 10% preferred stock with detachable warrants. The package of one share of stock and one warrant sells for $110. Each warrant enables the holder to purchase five shares of no-par common stock at $40 per share. Immediately following the issuance of the stock, the stock warrants are selling are selling at $12 per warrant. The market value of the preferred stock without the warrants is $108 per share. Prepare the...
Problem 11 Irish, Inc. issues 1,000 shares of $100 par, 10% preferred stock with detachable warrants....
Problem 11 Irish, Inc. issues 1,000 shares of $100 par, 10% preferred stock with detachable warrants. The package of one share of stock and one warrant sells for $110. Each warrant enables the holder to purchase five shares of no-par common stock at $40 per share. Immediately following the issuance of the stock, the stock warrants are selling are selling at $12 per warrant. The market value of the preferred stock without the warrants is $108 per share. Prepare the...
Dilutive Securities and EPS Worksheets Part 1: Convertible Securities and Detachable Warrants I. JAMC Corp. issues...
Dilutive Securities and EPS Worksheets Part 1: Convertible Securities and Detachable Warrants I. JAMC Corp. issues $10,000,000 of bonds on May 24, 2018 at a discount of $600,000. Interest on the bonds is payable each October 24 and May 24 Each $1,000 bond (i.e., there were 10,000 issued) is convertible to 20 shares of common stock (par value $3). On October 24, 2022, 2,000 of the bonds are converted. At the time of the conversion, the total remaining unamortized discount...
15-2 major expansion of production facilities is necessary. Nichols plans suing 10.000 shares of $50 par...
15-2
major expansion of production facilities is necessary. Nichols plans suing 10.000 shares of $50 par preferred stock and 50,000 were previously authorized but have not yet been issued. Prepare journal entries to record all the transactions related to 1. the preferred stock 2. the common stock P15-2 Stock Rights to Shareholders Nichols Electronics Corporation LO 15.3 for its products. In order to meet this demand, a major expansion of production + Nichols Electronics Corporation has been experiencing a steadily...
Please help.Thanks Stock Rights to Shareholders Nichols Electronics Corporation has been experiencing a steadily growing demand...
Please help.Thanks
Stock Rights to Shareholders Nichols Electronics Corporation has been experiencing a steadily growing demand for its products. In order to meet this demand, a major expansion of production facilities is necessary. Nichols plans to raise the money for this proposed expansion by issuing 10,000 shares of $50 par preferred stock and 50,000 shares of $10 par common stock. These shares were previously authorized but have not yet been issued 3 There are presently 200,000 shares of $10 par...
1. Swifty Corporation issued 309 shares of $10 par value common stock and 141 shares of...
1. Swifty Corporation issued 309 shares of $10 par value common stock and 141 shares of $50 par value preferred stock for a lump sum of $18,252. The common stock has a market price of $20 per share, and the preferred stock has a market price of $100 per share. Prepare the journal entry to record the issuance 2. Oriole Corporation issued 530 shares of $100 par value preferred stock for $64,400. Prepare Oriole’s journal entry. 3. The common stock...
Accounting Question
Show the whole work process: Lakeshore Gelato issues 2,500 shares of $30 par preferred stock with detachable warrants for $215,000 on January 1, 20Y1. Each share of preferred stock is issued with 10 detachable warrants. Each warrant entitles the holder to purchase one share of common stock for $25. The warrants expire in 2 years. The fair market value of the preferred stock is $145,000 on January 1, 20Y1, and the warrants sell for $3 per warrant.On July 1, 20Y2,...
On January 1, 2014, Kevin Corp. issues 5,000 bonds with warrants attached that give the holder...
On January 1, 2014, Kevin Corp. issues 5,000 bonds with warrants attached that give the holder the option to buy a share of common stock (par value $1) at some time in the future for $50. • Each individual bond has a face amount of $1,000 and comes with 10 detachable warrants. The bonds (with the attached warrants) were issued at 103. • Just after issuance, the bonds alone (i.e., without the warrants) were trading at 97 on the secondary...
Blue Spruce Corp. began operations on April 1 by issuing 51,100 shares of $7 par value...
Blue Spruce Corp. began operations on April 1 by issuing 51,100 shares of $7 par value common stock for cash at $14 per share. In addition, Blue issued 1,200 shares of $1 par value preferred stock for $3 per share. Journalize the issuance of the common and preferred shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" fo for the amounts.) Debit Credit Date Account Titles...
II. Work-Out Problems (31 points) 1. (6 points) Albert Corp. issued 2,000 shares of $50 par value preferred stock at $70 per share on 3/1/2017. A warrant is attached to cach share of preferred stock to allow the holder to purchase one share of S1 par common stock at S20 per share. Immediate after the issuance, the preferred began selling ex-right on the market for $68 per share while the warrant began selling for $5 per share. On 4/20/2017, 1,000...
Problem 11 Irish, Inc. issues 1,000 shares of $100 par, 10% preferred stock with detachable warrants. The package of one share of stock and one warrant sells for $110. Each warrant enables the holder to purchase five shares of no-par common stock at $40 per share. Immediately following the issuance of the stock, the stock warrants are selling are selling at $12 per warrant. The market value of the preferred stock without the warrants is $108 per share. Prepare the...
Problem 11 Irish, Inc. issues 1,000 shares of $100 par, 10% preferred stock with detachable warrants. The package of one share of stock and one warrant sells for $110. Each warrant enables the holder to purchase five shares of no-par common stock at $40 per share. Immediately following the issuance of the stock, the stock warrants are selling are selling at $12 per warrant. The market value of the preferred stock without the warrants is $108 per share. Prepare the...
Dilutive Securities and EPS Worksheets Part 1: Convertible Securities and Detachable Warrants I. JAMC Corp. issues $10,000,000 of bonds on May 24, 2018 at a discount of $600,000. Interest on the bonds is payable each October 24 and May 24 Each $1,000 bond (i.e., there were 10,000 issued) is convertible to 20 shares of common stock (par value $3). On October 24, 2022, 2,000 of the bonds are converted. At the time of the conversion, the total remaining unamortized discount...
15-2
major expansion of production facilities is necessary. Nichols plans suing 10.000 shares of $50 par preferred stock and 50,000 were previously authorized but have not yet been issued. Prepare journal entries to record all the transactions related to 1. the preferred stock 2. the common stock P15-2 Stock Rights to Shareholders Nichols Electronics Corporation LO 15.3 for its products. In order to meet this demand, a major expansion of production + Nichols Electronics Corporation has been experiencing a steadily...
Please help.Thanks
Stock Rights to Shareholders Nichols Electronics Corporation has been experiencing a steadily growing demand for its products. In order to meet this demand, a major expansion of production facilities is necessary. Nichols plans to raise the money for this proposed expansion by issuing 10,000 shares of $50 par preferred stock and 50,000 shares of $10 par common stock. These shares were previously authorized but have not yet been issued 3 There are presently 200,000 shares of $10 par...
Blue Spruce Corp. began operations on April 1 by issuing 51,100 shares of $7 par value common stock for cash at $14 per share. In addition, Blue issued 1,200 shares of $1 par value preferred stock for $3 per share. Journalize the issuance of the common and preferred shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" fo for the amounts.) Debit Credit Date Account Titles...
Most questions answered within 3 hours.
-
After watching the lectures I am still having a hard time
understanding these equations.
1. The...
asked 55 minutes ago -
Testing:
H0:μ=56.9
H1:μ<56.9
Your sample consists of 23 subjects, with a mean of 56.3 and
standard...
asked 58 minutes ago -
straight wire, labeled as Wire A, lies horizontally on a
tabletop and is oriented to run...
asked 59 minutes ago -
For a Chi-Squared Goodness of Fit Test about a uniform
distribution, complete the table.
Round to...
asked 1 hour ago -
Milk of magnesia is only slightly soluble in water. Kc for the
reaction Mg(OHs)(s)>Mg2+(a) + 2OH-1(aq)...
asked 1 hour ago -
Excel's HYPGEOM.DIST function can be used to compute _____.
a. both hypergeometric probabilities and cumulative
hypergeometric...
asked 1 hour ago -
The rocket used for the human lunar missions was the Saturn V
rocket. At liftoff the...
asked 1 hour ago -
1. The East Street Bagel Shop has a weekly demand for 3,500
bagels, which they make...
asked 1 hour ago -
paraphrasing each paragraph
“Where two or more persons knowingly act together unlawfully,
the act of each...
asked 1 hour ago -
The lateral line system in fish is contained which of the
following?
chemoreceptors
photoreceptors
mechanoreceptors
odor...
asked 1 hour ago -
Find the y-intercept of y =-5 x. The y-intercept of y equals
negative 5 x is______...
asked 1 hour ago -
Customers arrive randomly at a gas station at the average rate
of 30 per hour, while...
asked 1 hour ago