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Illiad Inc. has decided to raise additional capital by issuing $178,000 face value of bonds with a coupon rate of 12%. In discussions with investment bankers, it was determined that to help the sale of the bonds, detachable stock warrants should be issued at the rate of one warrant for each $100 bond sold. The value of the bonds without the warrants is considered to be $128,080, and the value of the warrants in the market is $32,020. The bonds sold in the market at issuance for $160,500.
(a) What entry should be made at the time of the issuance of the bonds and warrants
(b) Prepare the entry if the warrants were nondetachable.
On September 1, 2013, Algernon Company sold a truck for $15,000 cash. The truck was originally purchased for $40,000, had an estimated salvage value of $4,000 and an estimated life of 6 years. Algernon had recorded depreciation through the end of 201..
NoGrowth Corporation currently pays a dividend of $0.50 per quarter, and it will continue to pay this dividend forever. What is the price per share of NoGrowth stock if the firm's equity cost of capital is 15%?
Broussard Skateboard's sales are expected to increase by 20% from $7.8 million in 2016 to $9.36 million in 2017. Its assets totaled $4 million at the end of 2016. Broussard is already at full capacity, so its assets must grow at the same rate as proj..
CVP, alternative cost structures. Super Shades operates a kiosk at the local mall, selling sunglasses for $20 each. Super Shades currently pays $800 a month to rent the space and pays two full-time employees to each work 160 hours a month at $10 per ..
The adjusted trial balance of the Laventhal Corporation as of December 31, 2014. What should be reported as total intangible assets on Laventhal's December 31, 2014 balance sheet?
suppose that you have just run out of money and are unable to move your idea from its development stage to production
Classic Reserve Rare Coins (CRRC) was formed on January 1, 2015. On January 1, 2015, CRRC issued common stock for $425,000. b. Early in January, CRRC made the following cash payments: Prepare CRRC’s income statement for the year ended December 31, 20..
Which of the following is a COSO principle dealing with monitoring activities: Which of the following is not true about corporate governance. Which of the following is true about ERM
If the income effect is in effect for all taxpayers, what average tax rate will result in an 8.5% increase in tax revenues?
compute the best option of lease or buy on the facts given.your law office needs a new copying machine and you are
Ted is a successful attorney, but when he turned 50 years old he decided to retire from his law practice and become a professional golfer. Ted has been a very successful amateur golfer, so beginning this year Ted began competing in professional golf ..
A $1,000 par value bond has 7 years to maturity. The bond pays $60 a year in interest and is selling for $900. Given a 30% tax bracket, what is the after tax cost of this debt?
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