Homework Answers
Answer:
| Accounts | Debit | Credit |
| Bond Payable (1700 bonds x $1000) | $1,700,000 | |
| Discounts on Bonds Payable | $26,900 | |
| Common Stock(70 shares x $10 x 1700 bonds) | $1,190,000 | |
| Paid -in Capital in Excess of Par--Common Stock | $483,100 | |
| (To record conversion ) |
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Brief Exercise 16-02 Ivanhoe Corporation has outstanding 1,700 $1,000 bonds, each convertible into 70 shares of...
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are converted on December 31, 2017, when the unamortized discount
is $30,000 and the market price of the stock is $21 per
share.
Record the conversion using the book value approach.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually. If no entry is required,
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Marin Corporation has outstanding 2,300 $1,000 bonds, each convertible into 40 shares of $10 par value common stock. The bonds are converted on December 31, 2020, when the unamortized discount is $27,900 and the market price of the stock is $21 per share. Record the conversion using the book value approach. (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 0...
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Buffalo Corporation has outstanding 2,000 $1,000 bonds, each convertible into 70 shares of $10 par value common stock.
Buffalo Corporation has outstanding 2,000 $1,000 bonds, each convertible into 70 shares of $10 par value common stock. The bonds are converted on December 31, 2020, when the unamortized discount is $28,600 and the market price of the stock is $21 per share. Record the conversion using the book value approach.
Please answer all and show calculations nment CALCULA IOR | | "ALSCREEN PRİNIER VERSION Brief Exercise...
Please answer all and show calculations
nment CALCULA IOR | | "ALSCREEN PRİNIER VERSION Brief Exercise 16-1 lie issued $3,420 000 par value, 7% convertible bonds at 97 for cash. If the bonds had not included the conversion feature, they would hs. , prepare the journal entry to record the isuance of the bonds. (Credit account titles are automatically indented when amount is enterest, o not indent entry is required, select "No Entry" for the account titles and enter O...
Problem 16-02 Pina Inc. issued $2,400,000 of convertible 10-year bonds on July 1, 2020. The bonds...
Problem 16-02 Pina Inc. issued $2,400,000 of convertible 10-year bonds on July 1, 2020. The bonds provide for 12% interest payable semiannually on January 1 and July 1. The discount in connection with the issue was $56,400, which is being amortized monthly on a straight-line basis. The bonds are convertible after one year into 8 shares of Pina Inc.'s $100 par value common stock for each $1,000 of bonds. On August 1, 2021, $240,000 of bonds were turned in for...
Problem 16-02 Concord Inc. issued $2,400,000 of convertible 10-year bonds on July 1, 2020. The bonds...
Problem 16-02
Concord Inc. issued $2,400,000 of convertible 10-year bonds on
July 1, 2020. The bonds provide for 12% interest payable
semiannually on January 1 and July 1. The discount in connection
with the issue was $56,400, which is being amortized monthly on a
straight-line basis.
The bonds are convertible after one year into 8 shares of Concord
Inc.’s $100 par value common stock for each $1,000 of bonds.
On August 1, 2021, $240,000 of bonds were turned in for...
Brief Exercise 16-08 On January 1, 2020 (the date of grant), Blue Corporation issues 1,700 shares...
Brief Exercise 16-08 On January 1, 2020 (the date of grant), Blue Corporation issues 1,700 shares of restricted stock to its executives. The fair value of these shares is $54,000, and their par value is $8,500. The stock is forfeited if the executives do not complete 3 years of employment with the company. Prepare journal entries for January 1, 2020, and on December 31, 2020, assuming the service period is 3 years. (Credit account titles are automatically indented when amount...
Flounder Corporation has outstanding 1,800 $1,000 bonds, each
convertible into 40 shares of $10 par value common stock. The bonds
are converted on December 31, 2017, when the unamortized discount
is $30,000 and the market price of the stock is $21 per
share.
Record the conversion using the book value approach.
(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 0...
Ivanhoe Company issued $12.000.000 par ex bonds at One deachable stock purchase wat was with each $100 parvatubond. At the time of dance, the warrants were selling for $2 Gede accounts are automatically indented when amount is entered. Do not indet manuality s e ctory for the courts and enter the amounts Account Titles and Explanation Debit We were unable to transcribe this imageSuppose Google Inc. called its convertible debitin 2017. Assume the following related to the traction. The $3.700.000...
Exercise 16-03 Cullumber Company has bonds payable outstanding in the amount of $480,000, and the Premium on Bonds Payable account has a balance of $9,300. Each $1,000 bond is convertible into 20 shares of preferred stock of par value of $50 per share. All bonds are converted into preferred stock. Assuming that the book value method was used, what entry would be made? (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry...
Please answer all and show calculations
nment CALCULA IOR | | "ALSCREEN PRİNIER VERSION Brief Exercise 16-1 lie issued $3,420 000 par value, 7% convertible bonds at 97 for cash. If the bonds had not included the conversion feature, they would hs. , prepare the journal entry to record the isuance of the bonds. (Credit account titles are automatically indented when amount is enterest, o not indent entry is required, select "No Entry" for the account titles and enter O...
Problem 16-02 Pina Inc. issued $2,400,000 of convertible 10-year bonds on July 1, 2020. The bonds provide for 12% interest payable semiannually on January 1 and July 1. The discount in connection with the issue was $56,400, which is being amortized monthly on a straight-line basis. The bonds are convertible after one year into 8 shares of Pina Inc.'s $100 par value common stock for each $1,000 of bonds. On August 1, 2021, $240,000 of bonds were turned in for...
Problem 16-02
Concord Inc. issued $2,400,000 of convertible 10-year bonds on
July 1, 2020. The bonds provide for 12% interest payable
semiannually on January 1 and July 1. The discount in connection
with the issue was $56,400, which is being amortized monthly on a
straight-line basis.
The bonds are convertible after one year into 8 shares of Concord
Inc.’s $100 par value common stock for each $1,000 of bonds.
On August 1, 2021, $240,000 of bonds were turned in for...
Brief Exercise 16-08 On January 1, 2020 (the date of grant), Blue Corporation issues 1,700 shares of restricted stock to its executives. The fair value of these shares is $54,000, and their par value is $8,500. The stock is forfeited if the executives do not complete 3 years of employment with the company. Prepare journal entries for January 1, 2020, and on December 31, 2020, assuming the service period is 3 years. (Credit account titles are automatically indented when amount...
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