Prepare in general journal format the entry to record

Assignment Help Accounting Basics
Reference no: EM131108128

1. (Issuance of Bonds with Detachable Warrants) On September 1, 2010, Jacob Company sold at 104 (plus accrued interest) 3,000 of its 8%, 10-year, $1,000 face value, nonconvertible bonds with detachable stock warrants. Each bond carried two detachable warrants. Each warrant was for one share of common stock at a specified option price of $15 per share. Shortly after issuance, the warrants were quoted on the market for $3 each. No market value can be determined for the Jacob Company bonds. Interest is payable on December 1 and June 1. Bond issue costs of $30,000 were incurred. Prepare in general journal format the entry to record the issuance of the bonds.(AICPA adapted) 

Reference no: EM131108128

Complete the balance sheet

Using the following data, complete the balance sheet. Blue Co.'s records show that current and former customers owe the firm a total of $4,000; $600 of this amount has been d

Eps-simple capital structure

SCR Company had 600,000 shares of common stock outstanding on December 31, 2013. During the year 2014 the company acquired and then retired 15,000 shares on April 1 and issu

Determine the 2014 predetermined overhead rate per machine

Determine the 2014 predetermined overhead rate per machine hour. Using the predetermined overhead rate per machine hour, determine the manufacturing overhead applied to Work-i

What is the breakeven point for this company in units

Let's say that a company produces a single product with a sale price of $25 per unit. The variable cost per unit is $15 and the company incurs fixed costs of $50,000 per mon

A set of building blocks to customers

Wynn Company offers a set of building blocks to customers who send in 3 UPC codes from Wynn cereal, along with 50¢. The block sets cost Wynn $1.10 each to purchase and 60¢ e

How might this approach encourage poor business decisions

Explain why it might make sense for this company to award bonuses based on sales growth. How might this approach encourage poor business decisions when compared to a bonus p

Calculate the contribution margins of each division

Tanker Ltd has two divisions, Division A and B, which are profit centres. During 2003, Division A purchased a product called leggos from Division B at a cost of $75 per unit

Desired monthly ending inventory

Greener Grass Fertilizer Company plans to sell 270,000 units of finished product in July and anticipates a growth rate in sales of 4 percent per month. The desired monthly e

Reviews

Write a Review

 
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd