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Clarkston Inc issued $1,000,000 of convertible 10- year, 11% bonds on July 1, 2014. The interest is payable semiannually on January 1 and July 1. The discount in connection with the issue was $9,500, which is amortized monthly using the straight line basis. The debentures are convertible after one year into five shares of the company's $1 par common stock for each $ 1,000 of bonds
On August 1, 2015, $100,000 of the bonds were converted. Interest has been accrued monthly and paid as due. Any interest accrued at the time of conversion of the bonds is paid in cash.
Prepare the journal entries on Clarkstons books to record the conversion, amortization, and interest on the bonds as of August 1 and August 31, 2015
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You would like to start investing in the bond markets and your investment horizon is two years. In view of the current extremely low interest rate environment, you expect the U.S.
The following information was taken from the books and records of Ludwick, Inc.: 1. Net income $ 280,000 2. Capital structure: a. Convertible 6% bonds. Each of the 300, $1,000 bond
Principles, concepts and CONVETIONS
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If fixed costs are $259,238, the unit selling price is $112, and the unit variable costs are $63, what is the break-even sales (units)?
You have recently been promoted to assistant audit manager in SHAUNA & Co, a firm of Chartered Certified Accountants. Your first assignment in this new role is to supervise the aud
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