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Exercise 16-4 On January 2, 2017, Sheridan Corporation purchased a call option for $345 on Walter's...
On January 2, 2020, Buffalo Company purchases a call option for $330 on Merchant common stock....
On January 2, 2020, Buffalo Company purchases a call option for $330 on Merchant common stock. The call option gives Buffalo the option to buy 910 shares of Merchant at a strike price of $53 per share. The market price of a Merchant share i $53 on January 2, 2020 (the intrinsic value is therefore $0). On March 31, 2020, the market price for Merchant stock is $56 per share, and the time value of the option is $200. Prepare...
On January 2, 2020, Bridgeport Company purchases a call option for $300 on Merchant common stock....
On January 2, 2020, Bridgeport Company purchases a call option for $300 on Merchant common stock. The call option gives Bridgeport the option to buy 980 shares of Merchant at a strike price of $50 per share. The market price of a Merchant share is $50 on January 2, 2020 (the intrinsic value is therefore $0). On March 31, 2020, the market price for Merchant stock is $52 per share, and the time value of the option is $180. Your...
Brief Exercise 16-6 On January 1, 2017, Waterway Corporation granted 5,100 options to executives. Each option...
Brief Exercise 16-6 On January 1, 2017, Waterway Corporation granted 5,100 options to executives. Each option entitles the holder to purchase one share of Waterway's $5 par value common stock at $50 per share at any time during the next 5 years. The market price of the stock is $64 per share on the date of grant. The fair value of the options at the grant date is $ 155,000. The period of benefit is 2 years. Prepare Waterway's journal...
On January 2, 2020, Carla Vista Corporation purchased a call option for $345 on Walter’s common...
On January 2, 2020, Carla Vista Corporation purchased a call
option for $345 on Walter’s common shares. The call option gives
Carla Vista the option to buy 1,110 shares of Walter at a strike
price of $26 per share any time during the next six months. The
market price of a Walter share was $26 on January 2, 2020 (the
intrinsic value was therefore $0). On March 31, 2020, the market
price for Walter stock was $39 per share, and...
Brief Exercise 16-7 On January 1, 2017, Sandhill Corporation granted 1,900 shares of restricted $5 par...
Brief Exercise 16-7 On January 1, 2017, Sandhill Corporation granted 1,900 shares of restricted $5 par value common stock to executives. The market price (fair value) of the stock is $65 per share on the date of grant. The period of benefit is 2 years Prepare Sandhill's journal entries for January 1, 2017, and December 31, 2017 and 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No...
On May 1,2017,Sheridan Inc entered into a contract to deliver one of its specialty mowers to...
On May 1,2017,Sheridan Inc entered into a contract to deliver one of its specialty mowers to Kickapoo Landscaping Co. The contract contract price of $ 949 in advance on May 15,2017.Kickapoo pays Sheridan on May 15,2017, and Sheridan delivers the mower(with cost of $ 619) on May 31, 2017. (a) Prepare the journal entry on May 1,2017. for Sheridan. (Credit account titles are autormatically indented when the amount is entered. D is required, select "No entry for the account titles...
Exercise 10-9 On January 1, 2017, Forrester Company issued $351,500, 9%, 5-year bonds at face value....
Exercise 10-9 On January 1, 2017, Forrester Company issued $351,500, 9%, 5-year bonds at face value. Interest is payable annually on January 1. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1 (b) Prepare the journal entry to record the accrual of interest on December 31, 2017. (Credit account titles are automatically indented when...
1) 2) 3) 4) Exercise 12-7 (Part Level Submission) On January 1, Zabel Corporation purchased a...
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Exercise 12-7 (Part Level Submission) On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $186,500. At December 31, Helbert declared and paid a $52,100 cash dividend and reported net income of $195,000. (a) Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) Date Account Titles and...
On August 15, 2016, Grouper Co. invested idle cash by purchasing a call option on Counting Crows ...
On August 15, 2016, Grouper Co. invested idle cash by purchasing a call option on Counting Crows Inc. common shares for $378. The notional value of the call option is 420 shares, and the option price is $42. The option expires on January 31, 2017, The following data are available with respect to the call option Market Price of Counting Crows Shares Time Value of Call Option Date September 30, 2016 December 31, 2016 January 15, 2017 $50 per share...
On January 1, 2020, Pronghorn Corporation granted 4,600 options to executives. Each option entitles the holder...
On January 1, 2020, Pronghorn Corporation granted 4,600 options
to executives. Each option entitles the holder to purchase one
share of Pronghorn’s $5 par value common stock at $50 per share at
any time during the next 5 years. The market price of the stock is
$69 per share on the date of grant. The fair value of the options
at the grant date is $161,000. The period of benefit is 2
years.
Prepare Pronghorn’s journal entries for January 1,...
On January 2, 2020, Buffalo Company purchases a call option for $330 on Merchant common stock. The call option gives Buffalo the option to buy 910 shares of Merchant at a strike price of $53 per share. The market price of a Merchant share i $53 on January 2, 2020 (the intrinsic value is therefore $0). On March 31, 2020, the market price for Merchant stock is $56 per share, and the time value of the option is $200. Prepare...
On January 2, 2020, Bridgeport Company purchases a call option for $300 on Merchant common stock. The call option gives Bridgeport the option to buy 980 shares of Merchant at a strike price of $50 per share. The market price of a Merchant share is $50 on January 2, 2020 (the intrinsic value is therefore $0). On March 31, 2020, the market price for Merchant stock is $52 per share, and the time value of the option is $180. Your...
Brief Exercise 16-6 On January 1, 2017, Waterway Corporation granted 5,100 options to executives. Each option entitles the holder to purchase one share of Waterway's $5 par value common stock at $50 per share at any time during the next 5 years. The market price of the stock is $64 per share on the date of grant. The fair value of the options at the grant date is $ 155,000. The period of benefit is 2 years. Prepare Waterway's journal...
On January 2, 2020, Carla Vista Corporation purchased a call
option for $345 on Walter’s common shares. The call option gives
Carla Vista the option to buy 1,110 shares of Walter at a strike
price of $26 per share any time during the next six months. The
market price of a Walter share was $26 on January 2, 2020 (the
intrinsic value was therefore $0). On March 31, 2020, the market
price for Walter stock was $39 per share, and...
Brief Exercise 16-7 On January 1, 2017, Sandhill Corporation granted 1,900 shares of restricted $5 par value common stock to executives. The market price (fair value) of the stock is $65 per share on the date of grant. The period of benefit is 2 years Prepare Sandhill's journal entries for January 1, 2017, and December 31, 2017 and 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No...
On May 1,2017,Sheridan Inc entered into a contract to deliver one of its specialty mowers to Kickapoo Landscaping Co. The contract contract price of $ 949 in advance on May 15,2017.Kickapoo pays Sheridan on May 15,2017, and Sheridan delivers the mower(with cost of $ 619) on May 31, 2017. (a) Prepare the journal entry on May 1,2017. for Sheridan. (Credit account titles are autormatically indented when the amount is entered. D is required, select "No entry for the account titles...
Exercise 10-9 On January 1, 2017, Forrester Company issued $351,500, 9%, 5-year bonds at face value. Interest is payable annually on January 1. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1 (b) Prepare the journal entry to record the accrual of interest on December 31, 2017. (Credit account titles are automatically indented when...
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Exercise 12-7 (Part Level Submission) On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $186,500. At December 31, Helbert declared and paid a $52,100 cash dividend and reported net income of $195,000. (a) Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) Date Account Titles and...
On August 15, 2016, Grouper Co. invested idle cash by purchasing a call option on Counting Crows Inc. common shares for $378. The notional value of the call option is 420 shares, and the option price is $42. The option expires on January 31, 2017, The following data are available with respect to the call option Market Price of Counting Crows Shares Time Value of Call Option Date September 30, 2016 December 31, 2016 January 15, 2017 $50 per share...
On January 1, 2020, Pronghorn Corporation granted 4,600 options
to executives. Each option entitles the holder to purchase one
share of Pronghorn’s $5 par value common stock at $50 per share at
any time during the next 5 years. The market price of the stock is
$69 per share on the date of grant. The fair value of the options
at the grant date is $161,000. The period of benefit is 2
years.
Prepare Pronghorn’s journal entries for January 1,...
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