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Exercise 16-24 The Bridgeport Corporation issued 10 year $5,460.000 par a convertible subordinated debentures on January...
Exercise 16-24 The Vaughn Corporation issued 10-year, $4,430,000 par, 7% callable convertible subordinated debentures on January...
Exercise 16-24 The Vaughn Corporation issued 10-year, $4,430,000 par, 7% callable convertible subordinated debentures on January 2, 2017. The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 14:1, and in 2 years it will increase to 19:1. At the date of issue, the bonds were sold at 96. Bond discount is amortized on a straight-line basis. Vaughn's effective tax was 35%. Net income in 2017 was $9,050,000, and the company had 1,885,000...
Exercise 16-24 The Headland Corporation issued 10-year, $4,100,000 par, 7% callable convertible subordinated debentures on January...
Exercise 16-24 The Headland Corporation issued 10-year, $4,100,000 par, 7% callable convertible subordinated debentures on January 2, 2017. The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 15:1, and in 2 years it will increase to 17:1. At the date of issue, the bonds were sold at 96. Bond discount is amortized on a straight-line basis. Headland's effective tax was 35%. Net income in 2017 was $9,650,000, and the company had 2,140,000...
Exercise 16-24 The Headland Corporation issued 10-year, $4,100,000 par, 7% callable convertible subordinated debentures on January...
Exercise 16-24 The Headland Corporation issued 10-year, $4,100,000 par, 7% callable convertible subordinated debentures on January 2, 2017. The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 15:1, and in 2 years it will increase to 17:1. At the date of issue, the bonds were sold at 96. Bond discount is amortized on a straight-line basis. Headland's effective tax was 35%. Net income in 2017 was $9,650,000, and the company had 2,140,000...
The Sweet Corporation issued 10-year, $4,890,000 par, 7% callable convertible subordinated debentures on January 2, 2017....
The Sweet Corporation issued 10-year, $4,890,000 par, 7% callable convertible subordinated debentures on January 2, 2017. The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 14:1, and in 2 years it will increase to 16:1. At the date of issue, the bonds were sold at 96. Bond discount is amortized on a straight-line basis. Sweet’s effective tax was 35%. Net income in 2017 was $8,550,000, and the company had 1,980,000 shares outstanding...
The Ivanhoe Corporation issued 10-year, $5,470,000 par, 7% callable convertible subordinated debentures on January 2, 2017....
The Ivanhoe Corporation issued 10-year, $5,470,000 par, 7% callable convertible subordinated debentures on January 2, 2017. The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 13:1, and in 2 years it will increase to 18:1. At the date of issue, the bonds were sold at 96. Bond discount is amortized on a straight-line basis. Ivanhoe’s effective tax was 35%. Net income in 2017 was $9,350,000, and the company had 1,820,000 shares outstanding...
The Skysong Corporation issued 10-year, $5,270,000 par, 6% callable convertible subordinated debentures on January 2, 2017....
The Skysong Corporation issued 10-year, $5,270,000 par, 6%
callable convertible subordinated debentures on January 2, 2017.
The bonds have a par value of $1,000, with interest payable
annually. The current conversion ratio is 13:1, and in 2 years it
will increase to 19:1. At the date of issue, the bonds were sold at
96. Bond discount is amortized on a straight-line basis. Skysong’s
effective tax was 35%. Net income in 2017 was $8,800,000, and the
company had 1,985,000 shares outstanding...
The Crane Corporation issued 10-year 54,100,000 par, 7% callable convertible subordinated debentures on January 2, 2020....
The Crane Corporation issued 10-year 54,100,000 par, 7% callable convertible subordinated debentures on January 2, 2020. The bonds have a par value of $1,000 with interest payable anually. The current conversion ratio is 15-1, and in 2 years it will increase to 17:1. At the date of issue, the bonds were sold at 96. Bond discount is amortized on a straight-line basis. Crane's effective tax was 20% Net Income in 2020 was $9,650,000, and the company had 2.140.000 shares outstanding...
Exercise 16-24 a Your answer is partially correct. Try again. The Marin Corporation issued 10-year, $5,060,000...
Exercise 16-24 a Your answer is partially correct. Try again. The Marin Corporation issued 10-year, $5,060,000 par, 7% callable convertible subordinated debentures on January 2, 2020. The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 14:1, and in 2 years it will increase to 18:1. At the date of issue, the bonds were sold at 99. Bond discount is amortized on a straight-line basis. Marin's effective tax was 20%. Net income in...
On January 1, 2017, Cullumber Company issued 10-year, $1,840,000 face value, 6% bonds, at par. Each...
On January 1, 2017, Cullumber Company issued 10-year, $1,840,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 16 shares of Cullumber common stock. Cullumber's net income in 2017 was $273,000, and its tax rate was 40%. The company had 103,000 shares of common stock outstanding throughout 2017. None of the bonds were converted in 2017. (a) Compute diluted earnings per share for 2017. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share (b)...
G1 Corp. issued $50 million subordinated convertible debentures on January 1, 2017 at face value. The...
G1 Corp. issued $50 million subordinated convertible debentures on January 1, 2017 at face value. The debentures pay 5% interest annually and are convertible into 50 common shares for each $1,000 of the bond's face value. At maturity, December 31,2018, G1 Corp. has the option of issuing common shares to redeem the bonds instead of paying cash. REQUIRED: Prepare all the journal entries associated with the bond for the year ended December 31, 2018.
Exercise 16-24 The Vaughn Corporation issued 10-year, $4,430,000 par, 7% callable convertible subordinated debentures on January 2, 2017. The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 14:1, and in 2 years it will increase to 19:1. At the date of issue, the bonds were sold at 96. Bond discount is amortized on a straight-line basis. Vaughn's effective tax was 35%. Net income in 2017 was $9,050,000, and the company had 1,885,000...
Exercise 16-24 The Headland Corporation issued 10-year, $4,100,000 par, 7% callable convertible subordinated debentures on January 2, 2017. The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 15:1, and in 2 years it will increase to 17:1. At the date of issue, the bonds were sold at 96. Bond discount is amortized on a straight-line basis. Headland's effective tax was 35%. Net income in 2017 was $9,650,000, and the company had 2,140,000...
Exercise 16-24 The Headland Corporation issued 10-year, $4,100,000 par, 7% callable convertible subordinated debentures on January 2, 2017. The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 15:1, and in 2 years it will increase to 17:1. At the date of issue, the bonds were sold at 96. Bond discount is amortized on a straight-line basis. Headland's effective tax was 35%. Net income in 2017 was $9,650,000, and the company had 2,140,000...
The Skysong Corporation issued 10-year, $5,270,000 par, 6%
callable convertible subordinated debentures on January 2, 2017.
The bonds have a par value of $1,000, with interest payable
annually. The current conversion ratio is 13:1, and in 2 years it
will increase to 19:1. At the date of issue, the bonds were sold at
96. Bond discount is amortized on a straight-line basis. Skysong’s
effective tax was 35%. Net income in 2017 was $8,800,000, and the
company had 1,985,000 shares outstanding...
The Crane Corporation issued 10-year 54,100,000 par, 7% callable convertible subordinated debentures on January 2, 2020. The bonds have a par value of $1,000 with interest payable anually. The current conversion ratio is 15-1, and in 2 years it will increase to 17:1. At the date of issue, the bonds were sold at 96. Bond discount is amortized on a straight-line basis. Crane's effective tax was 20% Net Income in 2020 was $9,650,000, and the company had 2.140.000 shares outstanding...
Exercise 16-24 a Your answer is partially correct. Try again. The Marin Corporation issued 10-year, $5,060,000 par, 7% callable convertible subordinated debentures on January 2, 2020. The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 14:1, and in 2 years it will increase to 18:1. At the date of issue, the bonds were sold at 99. Bond discount is amortized on a straight-line basis. Marin's effective tax was 20%. Net income in...
On January 1, 2017, Cullumber Company issued 10-year, $1,840,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 16 shares of Cullumber common stock. Cullumber's net income in 2017 was $273,000, and its tax rate was 40%. The company had 103,000 shares of common stock outstanding throughout 2017. None of the bonds were converted in 2017. (a) Compute diluted earnings per share for 2017. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share (b)...
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