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

Questions Cloud

Prepare the entry to record the issuance of the bonds : Assume the same facts as part (a), except that the warrants had a fair value of $20. Prepare the entry to record the issuance of the bonds and warrants.
Calculate the difference between the price today : Assignment: Download some futures prices with at least 6 expirations, and 6 call option prices on the same underlying. Data are available, for example, from the CME-NYMEX website. Then answer the following questions.
Utilize a dynamic pricing model : Ride hailing services utilize a dynamic pricing model. Using supply and demand tools (you don't have to actually show the graphs... but they may help you on scratch paper)
Who was the black educationist : Who was the black educationist who was born a slave but became aleader in the search for civil rights in the early 1900s
Prepare in general journal format the entry to record : (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.
Analyze the case study frank smith plumbing : Explain why limited leverage is good for business. Show the profitability of the project so that Stephanie can convince her father to purchase the truck by borrowing money.
What is the capital city of the country benin : What is the capital city of the country Benin and the name of it's floating village
Prepare the incremental analysis for the decision : Nona Inc. has been manufacturing its own shades for its table lamps. The company is currently operating at 100% of capacity. Variable manufacturing overhead is charged to production at the rate of 50% of direct labor cost.
What price is the motel charging per night : A motel offers the specials shown. What price is the motel charging per night?

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Standard deviation of all possible sample proportions

The standard deviation of all possible sample proportions increases as the sample size increases.

  Market demand curve for labor in electronics

State whether each of the following events will result in a movement along the market demand curve for labor in electronics factories in China or whether it will cause the market demand curve for labor to shift. If the demand curve shifts, indicat..

  Current financial reporting requirement

What is the current financial reporting requirement for charity care? Do you agree or disagree with the current financial reporting requirement?

  Provide the consolidating worksheet adjusting entries

Provide the consolidating worksheet adjusting entries for 20x9 that deal with the impact of annual depreciation that occurs on the purchasing subsidiary books.

  Johnny the ceo of plastic spoon inc is in a bit of a bind

write a short essay between 400 and 500 words responding to the assignment below. you are expected to use the textbook

  The articles of partnership provide for salary allowances

daja and whitnee had capital balances of 140000 and 160000 respectively at the beginning of the current fiscal year.

  The beginning work in process inventory was 80 complete

pureform inc. manufactures a product that passes through two departments. data for a recent month for the first

  Why is it so important to obtain a letter of representations

Why is it so important to obtain a letter of representations from an audit client?

  Individual tax return under the assumptions

Emu Company, which was formed in 2010, had operating income of $200,000 and operating expenses of $120,000 in 2010. In addition, Emu had a long-term capital loss of $10,000. How does Andrew, the owner of Emu Company, report this information on his..

  Description of reorder point

If standard deviation is 10 units per week, lead time is 2 weeks, demand is 50 per week, lot size is lot - for - lot, and desired service level is 97.72%, what is the statistical reorder point?

  Behavior of individual households

Macroeconomics explains the behavior of individual households and business firms; microeconomics is concerned with the behavior of aggregates or the economy as a whole.

  Prepare journal entries for the above transactions

Assuming that the James Company uses a perpetual inventory system, prepare journal entries for the above transactions.

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