Homework Answers
| Date | Explanation/Account | Debit | Credit |
| Janaury 1,2019 | Moonbeam Investments a/c | $ 2,27,00,000.00 | |
| Bonds Payable | $2,20,00,000.00 | ||
| Premium on bonds | $ 7,00,000.00 | ||
| (being bonds purchased and cash received for the same) | |||
| January 1,2020 | Bonds payable a/c | $ 8,80,00,000.00 | |
| To share capital a/c | $8,80,00,000.00 | ||
| (being $8.8 million bonds are converted into 3080000 shares ) | |||
| Calculations: | |||
| No. of shares to be issued | ($8800000÷$1000)Χ35 shares = 30,80,000 | ||
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000 Compound Instruments 40000 1/4 ncludes two components cial instrument invert CO Chapter 15 Assignment Question...
please complete the following 200 Goo Compound Instruments ncludes two components cial instrument Chapter 15 Assignment...
please
complete the following
200 Goo Compound Instruments ncludes two components cial instrument Chapter 15 Assignment Nams Question 1 On January 1, 2021 Taffy Inc. granted 210,000 stock appreciation rights (SAR) to its executives. Each SAR entitled its holder to receive cash equal to the difference between the market price of the common share and the benchmark price of $16. The SARs vested after three years and expired on Dec 31, 2026. On January 1, 2024, 100,000 SARs are exercised....
Bramble Corporation issues 2,100 convertible bonds at January 1, 2019. The bonds have a 3-year life,...
Bramble Corporation issues 2,100 convertible bonds at January 1,
2019. The bonds have a 3-year life, and are issued at par with a
face value of $1,000 per bond, giving total proceeds of $2,100,000.
Interest is payable annually at 6%. Each bond is convertible into
250 ordinary shares (par value of $1). When the bonds are issued,
the market rate of interest for similar debt without the conversion
option is 8%.
a. Compute the liability and equity component of the...
Blossom Corporation issues 2,100 convertible bonds at January 1, 2019. The bonds have a 3-year life,...
Blossom Corporation issues 2,100 convertible bonds at January 1, 2019. The bonds have a 3-year life, and are issued at par with a face value of $1,000 per bond, giving total proceeds of $2,100,000. Interest is payable annually at 6%. Each bond is convertible into 250 ordinary shares (par value of $1). When the bonds are issued, the market rate of interest for similar debt without the conversion option is 7%. Click here to view factor table. Compute the liability...
Exercise 10-9 On January 1, Sandhill Co. issued $344,000, 9%, 15-year bonds at face value. Interest...
Exercise 10-9
On January 1, Sandhill Co. issued $344,000, 9%, 15-year bonds at
face value. Interest is payable annually on January 1.
Prepare journal entry to record the issuance of the
bonds.
Date
Account Titles and Explanation
Debit
Credit
Jan. 1
Prepare journal entry to record the accrual of interest on
December 31.
Date
Account Titles and Explanation
Debit
Credit
Dec. 31
Prepare journal entry to record the payment of interest on
January 1.
Date
Account Titles and Explanation
Debit...
On January 1, 2019, Wildhorse Co. issued $2,360,000 face value, 7%, 10-year bonds at $2,201,642. This...
On January 1, 2019, Wildhorse Co. issued $2,360,000 face value,
7%, 10-year bonds at $2,201,642. This price resulted in an
effective-interest rate of 8% on the bonds. Wildhorse uses the
effective-interest method to amortize bond premium or discount. The
bonds pay annual interest on January 1.
Prepare the journal entry to record the issuance of the bonds
on January 1, 2019. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually.)
Date
Account Titles and Explanation...
On January 1, 2019, Culver issued 10-year, $300,000 face value, 6% bonds at par. Each $1,000...
On January 1, 2019, Culver issued 10-year, $300,000 face value, 6% bonds at par. Each $1,000 bond is convertible into 30 shares of Culver $2 par value common stock. The company has had 10,000 shares of common stock (and no preferred stock) outstanding throughout its life. None of the bonds have been converted as of the end of 2020. (Ignore all tax effects.) (c) Assume that 75% of the holders of Culver's convertible bonds convert their bonds to stock on...
Here is all the information for this question.. Bradley-Link's December 31, 2018, balance sheet included the...
Here is all the information for
this question..
Bradley-Link's December 31, 2018, balance sheet included the following items: ($ in millions) Long-Term Liabilities 9.6% convertible bonds, callable at 101 beginning in 2019, due 2022 (net of unamortized discount of $2) [note 8] 10.4% registered bonds callable at 104 beginning in 2028, due 2032 (net of unamortized discount of $1) [note 8] Shareholders' Equity Equity-stock warrants Note 8: Bonds (in part) The 9.6% bonds were issued in 2005 at 97.5 to...
Garr Co. issued $4,194,000 of 12%, 5-year convertible bonds on December 1, 2017 for $4,211,720 plus...
Garr Co. issued $4,194,000 of 12%, 5-year convertible bonds on December 1, 2017 for $4,211,720 plus accrued interest. The bonds were dated April 1, 2017 with interest payable April 1 and October 1. Bond premium is amortized each interest period on a straight-line basis. Garr Co. has a fiscal year end of September 30. On October 1, 2018, $2,097,000 of these bonds were converted into 28,000 shares of $15 par common stock. Accrued interest was paid in cash at the...
On January 1, 2021, Fowl Products issued $77 million of 7%, 10-year convertible bonds at a...
On January 1, 2021, Fowl Products issued $77 million of 7%, 10-year convertible bonds at a net price of $78.3 million. Fowl 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 25 shares of Fowl's no par common stock. Fowl records interest by the straight-line method. On June 1, 2023, Fowl notified bondholders of its intent to call the...
Carla Vista Co. issues $4.0 million, 10-year, 8% bonds at 99, with interest payable on December...
Carla Vista Co. issues $4.0 million, 10-year, 8% bonds at 99, with interest payable on December 31. The straight-line method is used to amortize bond discount. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Prepare the journal entry to record interest expense and bond discount amortization on December 31, 2022,...
please
complete the following
200 Goo Compound Instruments ncludes two components cial instrument Chapter 15 Assignment Nams Question 1 On January 1, 2021 Taffy Inc. granted 210,000 stock appreciation rights (SAR) to its executives. Each SAR entitled its holder to receive cash equal to the difference between the market price of the common share and the benchmark price of $16. The SARs vested after three years and expired on Dec 31, 2026. On January 1, 2024, 100,000 SARs are exercised....
Bramble Corporation issues 2,100 convertible bonds at January 1,
2019. The bonds have a 3-year life, and are issued at par with a
face value of $1,000 per bond, giving total proceeds of $2,100,000.
Interest is payable annually at 6%. Each bond is convertible into
250 ordinary shares (par value of $1). When the bonds are issued,
the market rate of interest for similar debt without the conversion
option is 8%.
a. Compute the liability and equity component of the...
Blossom Corporation issues 2,100 convertible bonds at January 1, 2019. The bonds have a 3-year life, and are issued at par with a face value of $1,000 per bond, giving total proceeds of $2,100,000. Interest is payable annually at 6%. Each bond is convertible into 250 ordinary shares (par value of $1). When the bonds are issued, the market rate of interest for similar debt without the conversion option is 7%. Click here to view factor table. Compute the liability...
Exercise 10-9
On January 1, Sandhill Co. issued $344,000, 9%, 15-year bonds at
face value. Interest is payable annually on January 1.
Prepare journal entry to record the issuance of the
bonds.
Date
Account Titles and Explanation
Debit
Credit
Jan. 1
Prepare journal entry to record the accrual of interest on
December 31.
Date
Account Titles and Explanation
Debit
Credit
Dec. 31
Prepare journal entry to record the payment of interest on
January 1.
Date
Account Titles and Explanation
Debit...
On January 1, 2019, Wildhorse Co. issued $2,360,000 face value,
7%, 10-year bonds at $2,201,642. This price resulted in an
effective-interest rate of 8% on the bonds. Wildhorse uses the
effective-interest method to amortize bond premium or discount. The
bonds pay annual interest on January 1.
Prepare the journal entry to record the issuance of the bonds
on January 1, 2019. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually.)
Date
Account Titles and Explanation...
On January 1, 2019, Culver issued 10-year, $300,000 face value, 6% bonds at par. Each $1,000 bond is convertible into 30 shares of Culver $2 par value common stock. The company has had 10,000 shares of common stock (and no preferred stock) outstanding throughout its life. None of the bonds have been converted as of the end of 2020. (Ignore all tax effects.) (c) Assume that 75% of the holders of Culver's convertible bonds convert their bonds to stock on...
Here is all the information for
this question..
Bradley-Link's December 31, 2018, balance sheet included the following items: ($ in millions) Long-Term Liabilities 9.6% convertible bonds, callable at 101 beginning in 2019, due 2022 (net of unamortized discount of $2) [note 8] 10.4% registered bonds callable at 104 beginning in 2028, due 2032 (net of unamortized discount of $1) [note 8] Shareholders' Equity Equity-stock warrants Note 8: Bonds (in part) The 9.6% bonds were issued in 2005 at 97.5 to...
On January 1, 2021, Fowl Products issued $77 million of 7%, 10-year convertible bonds at a net price of $78.3 million. Fowl 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 25 shares of Fowl's no par common stock. Fowl records interest by the straight-line method. On June 1, 2023, Fowl notified bondholders of its intent to call the...
Carla Vista Co. issues $4.0 million, 10-year, 8% bonds at 99, with interest payable on December 31. The straight-line method is used to amortize bond discount. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Prepare the journal entry to record interest expense and bond discount amortization on December 31, 2022,...
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