Homework Answers
Kindly note that as per our calculation, Shareholders equity is $29.5 million (80.5-40.5-10.5). However, as per screenshot, correct amount is $30 million. It may be due to certain information which is missing in the question. This leads to our answer to question 4a to No.
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Thrillville has $40.5 million in bonds pavable. One of the contractual agreements in the bond is...
Thrillville has $39.1 million in bonds payable. One of the contractual agreements in the bond is...
Thrillville has $39.1 million in bonds payable. One of the contractual agreements in the bond is that the debt to equity ratio cannot exceed 2.0. Thrillville’s total assets are $79.1 million, and its liabilities other than the bonds payable are $9.1 million. The company is considering some additional financing through leasing. 3. The company enters a lease agreement requiring lease payments with a present value of $14.1 million. Record the lease. (If no entry is required for a particular transaction/event,...
Acompanyret ed $85million of its 5% bonds at 104 $88.4 million) before their scheduled maturity. At...
Acompanyret ed $85million of its 5% bonds at 104 $88.4 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $3 million. the journal entry to record the redemption of the bonds. (Enter your answers in millions rounded to 1 decimal place(i.e. should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the redemption of...
Tanner-UNF Corporation acquired as a long-term investment $300 million of 7% bonds, dated July 1, on...
Tanner-UNF Corporation acquired as a long-term investment $300 million of 7% bonds, dated July 1, on July 1, 2018. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $280 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management has classified the bonds as available for sale investments. As a result of changing market conditions, the fair value of the bonds at December 31, 2018,...
Tanner-UNF Corporation acquired as an investment $240 million of 6% bonds, dated July 1, on July...
Tanner-UNF Corporation acquired as an investment $240 million of 6% bonds, dated July 1, on July 1, 2021. Company management is holding the bonds in its trading portfolio. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $200 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2021, was $210...
Hoffman Corporation issued $90 million of 9%, 20-year bonds at 106. Each of the 90,000 bonds was convertible into o...
Hoffman Corporation issued $90 million of 9%, 20-year bonds at 106. Each of the 90,000 bonds was convertible into one share of $1 par common stock Prepare the journal entry to record the issuance of the bonds. (Enter your answers in millions rounded to 1 decimal place ie, 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the...
Tanner-UNF Corporation acquired as a long-term investment $330 million of 5.0% bonds, dated July 1, on...
Tanner-UNF Corporation acquired as a long-term investment $330 million of 5.0% bonds, dated July 1, on July 1, 2021. Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 6% for bonds of similar risk and maturity. Tanner-UNF paid $300.0 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at...
Tanner-UNF Corporation acquired as a long-term investment $260 million of 8% bonds, dated July 1, on...
Tanner-UNF Corporation acquired as a long-term investment $260 million of 8% bonds, dated July 1, on July 1, 2018. The market interest rate (yield) was 10% for bonds of similar risk and maturity, Tanner-UNF paid $220 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management is holding the bonds in its trading portfolio. As a result of changing market conditions, the fair value of the bonds at December 31, 2018, was...
CH9 Coney Island enters into a lease agreement for a new ride valued at $3.3 million....
CH9
Coney Island enters into a lease agreement for a new ride valued at $3.3 million. Prior to this agreement, their total assets are $28.9 million and their total liabilities are $16.3 million. Required: 1. Calculate total stockholders' equity prior to the lease agreement. (Enter your answer in millions, not in dollars rounded to 2 decimal places. (i.e.$5,500,000 million should be entered as 5.50)) Stockholders' equity million 2.&3. Calculate the debt to equity ratio assuming that it is an operating...
Hoffman Corporation issued $60 million of 5%, 20-year bonds at 102. Each of the 60,000 bonds...
Hoffman Corporation issued $60 million of 5%, 20-year bonds at 102. Each of the 60,000 bonds was issued with 10 detachable stock warrants, each of which entitled the bondholder to purchase, for $20, one share of $1 par common stock. At the time of sale, the market value of the common stock was $25 per share and the market value of each warrant was $5. Prepare the journal entry to record the issuance of the bonds. (Enter your answers in...
Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on...
Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1, 2021. Company management has classified the bonds as an available-for-sale investment. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $200 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2021, was...
Acompanyret ed $85million of its 5% bonds at 104 $88.4 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $3 million. the journal entry to record the redemption of the bonds. (Enter your answers in millions rounded to 1 decimal place(i.e. should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the redemption of...
Tanner-UNF Corporation acquired as a long-term investment $300 million of 7% bonds, dated July 1, on July 1, 2018. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $280 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management has classified the bonds as available for sale investments. As a result of changing market conditions, the fair value of the bonds at December 31, 2018,...
Tanner-UNF Corporation acquired as an investment $240 million of 6% bonds, dated July 1, on July 1, 2021. Company management is holding the bonds in its trading portfolio. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $200 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2021, was $210...
Hoffman Corporation issued $90 million of 9%, 20-year bonds at 106. Each of the 90,000 bonds was convertible into one share of $1 par common stock Prepare the journal entry to record the issuance of the bonds. (Enter your answers in millions rounded to 1 decimal place ie, 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the...
Tanner-UNF Corporation acquired as a long-term investment $330 million of 5.0% bonds, dated July 1, on July 1, 2021. Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 6% for bonds of similar risk and maturity. Tanner-UNF paid $300.0 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at...
Tanner-UNF Corporation acquired as a long-term investment $260 million of 8% bonds, dated July 1, on July 1, 2018. The market interest rate (yield) was 10% for bonds of similar risk and maturity, Tanner-UNF paid $220 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management is holding the bonds in its trading portfolio. As a result of changing market conditions, the fair value of the bonds at December 31, 2018, was...
CH9
Coney Island enters into a lease agreement for a new ride valued at $3.3 million. Prior to this agreement, their total assets are $28.9 million and their total liabilities are $16.3 million. Required: 1. Calculate total stockholders' equity prior to the lease agreement. (Enter your answer in millions, not in dollars rounded to 2 decimal places. (i.e.$5,500,000 million should be entered as 5.50)) Stockholders' equity million 2.&3. Calculate the debt to equity ratio assuming that it is an operating...
Hoffman Corporation issued $60 million of 5%, 20-year bonds at 102. Each of the 60,000 bonds was issued with 10 detachable stock warrants, each of which entitled the bondholder to purchase, for $20, one share of $1 par common stock. At the time of sale, the market value of the common stock was $25 per share and the market value of each warrant was $5. Prepare the journal entry to record the issuance of the bonds. (Enter your answers in...
Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1, 2021. Company management has classified the bonds as an available-for-sale investment. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $200 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2021, was...
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