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Garr Co. issued $4,220,000 of 12%, 5-year convertible bonds on December 1, 2014 for $4,237,830 plus accrued interest. The bonds were dated April 1, 2014 with interest payable April 1 and October 1. Bond premium is amortized each interest period on a straight-line basis. Garr Co. has a fiscal year end of September 30. On October 1, 2015, $2,110,000 of these bonds were converted into 29,000 shares of $15 par common stock. Accrued interest was paid in cash at the time of conversion. Prepare the entry to record the interest expense at April 1, 2015. Assume that interest payable was credited when the bonds were issued. Prepare the entry to record the conversion on October 1, 2015. Assume that the entry to record amortization of the bond premium and interest payment has been made.
On February 28, 2009, Dow sold 60,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31, 2009, was $2,100,000. The income tax rate is 40%.
Any plans to depreciate the operating assets on a straight-line basis for 20 years. Determine the amount of depreciation expense for 2010 on these newly acquired assets.
How will the declaration and distribution of a 10 percent stock dividend affect the issuing corporation's balance of retained earnings and total stockholders' equity, respectively?
In its most recent financial statements, Newhouse Inc. reported 450 million of net income and $810 million of retained earnings. The previous retained earnings were $780 million. How much in dividends were paid to shareholders during the year? Ass..
What are some methods that aid management in analyzing the expected results of capital budgeting decisions?
What is the amount of the stockholders" equity (Jim Chu"s capital) as of November 1 of the current year? A. $37,720 b. $44,430 c. $21,500 d. $48,780 11. Al Shea is the sole owner and operator of SawTooth Company.
The following information relates to Vice Versa Ventures for calendar year 20XX, the company's first year of operations:
You have an an inventory of women's clothes and also inventory of Hi-Tech equipment like Ipods or cell phones. You are like Walmart. You are nervous in that noone is buying certain woman's clothing in your stock and also noone is buying some of yo..
Assume that Product Z is made up of two units of A and four units of B. A is made of three units of C and four units of D. D is made of two units of E.
Explain how shaving 5% off the estimated direct labor hours in the base of the predetermined overhead rate usually results in a big boost in the net operating income at the end of the year.
Compute the margin of safety and margin of safety ratio.
Discuss the allowance method and the direct write-off method of accounting for bad debts. When is the expense for uncollected accounts receivable recognized under each method? Respond to at least two of your classmates' postings.
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