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Skysong Horizon Corp had the following items, all of which were outstanding throughout the entire fiscal year ending September 30, 2021: • 870,000 common shares • 330,000 $3 cumulative, no-par value preferred shares • Options to purchase 90,000 common shares at $11 per share. The average market price of Skysong's common shares during the year was $20 per share. None of the options were exercised or expired during fiscal 2021 • 9% bond with a face value of $1,800,000, convertible...
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Splish Horizon Corp had the following items, all of which were
outstanding throughout the entire fiscal year ending September 30,
2021:
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870,000 common shares
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300,000 $3 cumulative, no-par value preferred shares
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Options to purchase 110,000 common shares at $13 per share. The
average market price of Splish’s common shares during the year was
$20 per share. None of the options were exercised or expired during
fiscal 2021
●
9% bond with a face value of $1,900,000, convertible...
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Please answer the question according to the above format. Thank
you!
Question 2 --/8 View Policies Current Attempt in Progress Blossom Horizon Corp had the following items, all of which were outstanding throughout the entire fiscal year ending September 30, 2021: • 720,000 common shares • 330,000 $3 cumulative, no-par value preferred shares • Options to purchase 90,000 common shares at $13 per share. The average market price of Blossom's common shares during the year was $20 per share. None...
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Bridgeport Corporation had a net income for the current year ending December 31, 2021 of $1,211,000. Throughout 2021 the following items were outstanding: • 415,000 common shares • 20,000 Class A $3 cumulative preferred shares that were convertible to common shares at a rate of 1:1 52,000 Class B $4 non-cumulative preferred shares that were convertible at a rate of one common share for every two preferred shares. $510,000, 8% bonds that were convertible to 15,000 common shares • $287,000,...
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Skysong Corporation reported Long-Term Liabilities and Shareholders' Equity in its December 31, 2020 balance sheet as follows: $7,500,000 $4,600,000 Long Term Liabilities: Bonds Payable 9% interest, convertible to 25 common shares/$1,000 bond Bonds Payable 5% interest, convertible to 30 common shares/$1,000 bond Shareholders' Equity: Class A Preferred shares $3.90 cumulative preferred share convertible into 7 common shares, 102,000 authorized, issued and outstanding Class B Common shares Unlimited number authorized 4,820,000 issued and outstanding $5,000,000 $28,920,000 All of the above reported...
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Oriole Corporation had net income for the current fiscal year of
$600,000, and common shares outstanding of 96,000. There were no
changes to Oriole’s common shares during the year. Oriole also had
outstanding a $1,000,000, 9% bond sold in a previous year that was
convertible to 66,000 common shares. In addition, Oriole sold a new
bond on October 1 of the current year. The new bond was a
$1,000,000, 11% bond, convertible to 60,400 shares. Oriole was
subject to a...
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Sunland Corporation had a net income for the current year ending
December 31, 2021 of $1,235,500. Throughout 2021 the following
items were outstanding:
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386,500 common shares
●
19,500 Class A $3 cumulative preferred shares that were
convertible to common shares at a rate of 1:1
●
52,000 Class B $4 non-cumulative preferred shares that were
convertible at a rate of one common share for every two preferred
shares.
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$504,000, 8% bonds that were convertible to 14,000 common
shares...
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Tamarisk Inc. had net income for the current year ending December 31, 2020 of $1,152.760. During the entire year, there were 504,000 common shares outstanding. The company had two classes of preferred shares outstanding: the Class A preferred shares were $2.38 cumulative shares of which 10,000 were outstanding, and were convertible to common shares at a rate of 1:1. There were 103,000 $6.38 Class B non-cumulative preferred shares outstanding that were also convertible at a rate of 1:1. Tamarisk had...
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Sage Corporation had a net income for the current year ending
December 31, 2021 of $1,248,000. Throughout 2021 the following
items were outstanding:
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389,500 common shares
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18,000 Class A $3 cumulative preferred shares that were
convertible to common shares at a rate of 1:1
●
49,500 Class B $4 non-cumulative preferred shares that were
convertible at a rate of one common share for every two preferred
shares.
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$496,000, 8% bonds that were convertible to 16,000 common
shares...
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Sunland Corporation had net income of $50,500 for the year ended
December 31, 2020, and a weighted average number of common shares
outstanding of 12,400. The following information is provided
regarding the capital structure:
1.
8% convertible debt, 260 bonds each convertible into 42 common
shares. The bonds were outstanding for the entire year. The income
tax rate is 40%. The bonds were issued at par ($1,150 per bond). No
bonds were converted during the year.
2.
3% convertible, cumulative...
Skysong Horizon Corp had the following items, all of which were outstanding throughout the entire fiscal year ending September 30, 2021: • 870,000 common shares • 330,000 $3 cumulative, no-par value preferred shares • Options to purchase 90,000 common shares at $11 per share. The average market price of Skysong's common shares during the year was $20 per share. None of the options were exercised or expired during fiscal 2021 • 9% bond with a face value of $1,800,000, convertible...
Please answer the question according to the above format. Thank
you!
Question 2 --/8 View Policies Current Attempt in Progress Blossom Horizon Corp had the following items, all of which were outstanding throughout the entire fiscal year ending September 30, 2021: • 720,000 common shares • 330,000 $3 cumulative, no-par value preferred shares • Options to purchase 90,000 common shares at $13 per share. The average market price of Blossom's common shares during the year was $20 per share. None...
Bridgeport Corporation had a net income for the current year ending December 31, 2021 of $1,211,000. Throughout 2021 the following items were outstanding: • 415,000 common shares • 20,000 Class A $3 cumulative preferred shares that were convertible to common shares at a rate of 1:1 52,000 Class B $4 non-cumulative preferred shares that were convertible at a rate of one common share for every two preferred shares. $510,000, 8% bonds that were convertible to 15,000 common shares • $287,000,...
Skysong Corporation reported Long-Term Liabilities and Shareholders' Equity in its December 31, 2020 balance sheet as follows: $7,500,000 $4,600,000 Long Term Liabilities: Bonds Payable 9% interest, convertible to 25 common shares/$1,000 bond Bonds Payable 5% interest, convertible to 30 common shares/$1,000 bond Shareholders' Equity: Class A Preferred shares $3.90 cumulative preferred share convertible into 7 common shares, 102,000 authorized, issued and outstanding Class B Common shares Unlimited number authorized 4,820,000 issued and outstanding $5,000,000 $28,920,000 All of the above reported...
Sunland Corporation had a net income for the current year ending
December 31, 2021 of $1,235,500. Throughout 2021 the following
items were outstanding:
●
386,500 common shares
●
19,500 Class A $3 cumulative preferred shares that were
convertible to common shares at a rate of 1:1
●
52,000 Class B $4 non-cumulative preferred shares that were
convertible at a rate of one common share for every two preferred
shares.
●
$504,000, 8% bonds that were convertible to 14,000 common
shares...
Tamarisk Inc. had net income for the current year ending December 31, 2020 of $1,152.760. During the entire year, there were 504,000 common shares outstanding. The company had two classes of preferred shares outstanding: the Class A preferred shares were $2.38 cumulative shares of which 10,000 were outstanding, and were convertible to common shares at a rate of 1:1. There were 103,000 $6.38 Class B non-cumulative preferred shares outstanding that were also convertible at a rate of 1:1. Tamarisk had...