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Exercise 18-7 (Algo) Share issue costs; issuance (LO18-4) ICOT industries issued 16 million of its S1...
Exercise 18-11 (Algo) Retirement of shares [LO18-5] ed In 2021, Borland Semiconductors entered into the transactions...
Exercise 18-11 (Algo) Retirement of shares [LO18-5] ed In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had issued 210 milion shares of its Si par common stock at $45 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions fi.e. 10,000,000...
Exercise 18-17 (Algo) Transactions affecting retained earnings [LO18-6, 18-7] Shown below in T-account format are the...
Exercise 18-17 (Algo) Transactions affecting retained earnings [LO18-6, 18-7] Shown below in T-account format are the changes affecting the retained earnings of Brenner Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 108 million common shares, $1 par per share. Retained Earnings (5 in millions) Beginning balance Retirement of million common shares for 93 522 million 5 82 Net Income for the year 36 Declaration and payment of a 50.36 per share cash dividend Declaration and distribution...
$79 million and issued a nine-month promissory note. Interest was discounted at issuance at On October...
$79 million and issued a nine-month promissory note. Interest was discounted at issuance at On October 1, Eder Fabrication borrowed a 11% discount rate. Prepare the journal entry for the issuance of the note and the appropriate reporting period. (If no entry is required for a transaction/event, select your answers in whole dollars.) adjusting entry for the note at December 31, the end of the "No journal entry required" in the first account field. Enter View transaction list Journal entry...
Required information Exercise 10-3A Record the issuance of common stock (LO10-2) [The following information applies to...
Required information Exercise 10-3A Record the issuance of common stock (LO10-2) [The following information applies to the questions displayed below.) Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders' equity. January 1 Issues 600 shares of common stock for $40 per share. April 1 Issues 100 additional shares of common stock for $44 per share. Exercise 10-3A Part 1 Required: 1. Record the transactions, assuming Clothing Frontiers has no-par common...
Brief Exercise 10-4 Record issuance of common stock (LO10-2) Gothic Architecture is a new chain of clothing stores spec...
Brief Exercise 10-4 Record issuance of common stock (LO10-2) Gothic Architecture is a new chain of clothing stores specializing in the color black. Gothic issues 1,000 shares of its $1 par value common stock at $13 per share. Record the issuance of the stock. How would the entry differ if Gothic issued no-par value stock? (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet...
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...
Brief Exercise 18-2 (Algo) Stock issued [LO18-4] Penne Pharmaceuticals sold 18 million shares of its $1...
Brief Exercise 18-2 (Algo) Stock issued [LO18-4] Penne Pharmaceuticals sold 18 million shares of its $1 par common stock to provide funds for research and development If the issue price is $15 per share, what is the journal entry to record the sale of the shares? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) ded No General Journal...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE. THANK YOU! Exercise 12-20 (Algo) Equity...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE.
THANK YOU!
Exercise 12-20 (Algo) Equity method; purchase; Investee Income; dividends (LO12-6) As a long-term Investment at the beginning of the 2021 fiscal year, Florists International purchased 25% of Nursery Supplies Inc.'s 8 million shares for $62 million. The fair value and book value of the shares were the same at that time. During the year, Nursery Supplies earned net Income of $48 million and distributed cash dividends of $2.50...
On November 1, 2021, Quantum Technology, a geothermal energy supplier, borrowed $12 million cash to fund...
On November 1, 2021, Quantum Technology, a geothermal energy supplier, borrowed $12 million cash to fund a geological survey. The loan was made by Nevada BancCorp under a noncommitted short-term line of credit arrangement. Quantum issued a nine- month, 11% promissory note. Interest was payable at maturity. Quantum's fiscal period is the calendar year. Required: 1. Prepare the journal entry for the issuance of the note by Quantum Technology. 2. & 3. Prepare the appropriate adjusting entry for the note...
On October 1. Eder Fabrication borrowed $66 million and issued a nine-month, 8% promissory note. Interest...
On October 1. Eder Fabrication borrowed $66 million and issued a nine-month, 8% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period. (if no entry is required for a transaction/event, select "No lournal entry required in the first account fleld. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the issuance...
Exercise 18-11 (Algo) Retirement of shares [LO18-5] ed In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had issued 210 milion shares of its Si par common stock at $45 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions fi.e. 10,000,000...
Exercise 18-17 (Algo) Transactions affecting retained earnings [LO18-6, 18-7] Shown below in T-account format are the changes affecting the retained earnings of Brenner Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 108 million common shares, $1 par per share. Retained Earnings (5 in millions) Beginning balance Retirement of million common shares for 93 522 million 5 82 Net Income for the year 36 Declaration and payment of a 50.36 per share cash dividend Declaration and distribution...
$79 million and issued a nine-month promissory note. Interest was discounted at issuance at On October 1, Eder Fabrication borrowed a 11% discount rate. Prepare the journal entry for the issuance of the note and the appropriate reporting period. (If no entry is required for a transaction/event, select your answers in whole dollars.) adjusting entry for the note at December 31, the end of the "No journal entry required" in the first account field. Enter View transaction list Journal entry...
Required information Exercise 10-3A Record the issuance of common stock (LO10-2) [The following information applies to the questions displayed below.) Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders' equity. January 1 Issues 600 shares of common stock for $40 per share. April 1 Issues 100 additional shares of common stock for $44 per share. Exercise 10-3A Part 1 Required: 1. Record the transactions, assuming Clothing Frontiers has no-par common...
Brief Exercise 10-4 Record issuance of common stock (LO10-2) Gothic Architecture is a new chain of clothing stores specializing in the color black. Gothic issues 1,000 shares of its $1 par value common stock at $13 per share. Record the issuance of the stock. How would the entry differ if Gothic issued no-par value stock? (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet...
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...
Brief Exercise 18-2 (Algo) Stock issued [LO18-4] Penne Pharmaceuticals sold 18 million shares of its $1 par common stock to provide funds for research and development If the issue price is $15 per share, what is the journal entry to record the sale of the shares? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) ded No General Journal...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE.
THANK YOU!
Exercise 12-20 (Algo) Equity method; purchase; Investee Income; dividends (LO12-6) As a long-term Investment at the beginning of the 2021 fiscal year, Florists International purchased 25% of Nursery Supplies Inc.'s 8 million shares for $62 million. The fair value and book value of the shares were the same at that time. During the year, Nursery Supplies earned net Income of $48 million and distributed cash dividends of $2.50...
On November 1, 2021, Quantum Technology, a geothermal energy supplier, borrowed $12 million cash to fund a geological survey. The loan was made by Nevada BancCorp under a noncommitted short-term line of credit arrangement. Quantum issued a nine- month, 11% promissory note. Interest was payable at maturity. Quantum's fiscal period is the calendar year. Required: 1. Prepare the journal entry for the issuance of the note by Quantum Technology. 2. & 3. Prepare the appropriate adjusting entry for the note...
On October 1. Eder Fabrication borrowed $66 million and issued a nine-month, 8% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period. (if no entry is required for a transaction/event, select "No lournal entry required in the first account fleld. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the issuance...
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