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Canon Corporation has $600,000, 10%, 10-year convertible bonds that were sold at face value. The bonds are convertible into 20 shares of Canon $10 par value common stock for each $1,000 bond. On December 31, 2008, after bond interest had been paid, $300,000 face value bonds were converted.
Prepare the necessary journal entry for the conversion and retirement of the bonds.
Jack Hammer invests in a stock that will pay dividends of $2.00 at the end of the first year; $2.20 at the end of the second year; and $2.40 at the end of the third year.
Gibbs Company has a contribution margin of $150,000 and a contribution margin ratio of 30%. How much are total variable costs?
A business simulation game that is used by colleges and universities all over the world has students submit decisions over the Internet. Decisions are stored online, processed on the server, and then the results are stored online.
Stockholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 15%. What profit margin would LeCompte need in order to achieve the 15% ROE, holding everything else constant?
What controls should an organization like Tyco implement to ensure that such transactions do not take place in the future?
Braverman Company's net income last year was $75,000 and its interest expense was $10,000. Total assets at the beginning of the year were $650,000 and total assets at the end of the year were $610,000. The company's income tax rate was 30%. The co..
Examine the reasons service companies are more sensitive to labor and price variances, as compared to material price variances, in the industrial sector and why managing these variances is essential to sustaining profitability.
Eddy Money signed a three-year contract to host the Tonight Show. Although he will receive $130 million dollars over three years, the terms of the contract are that he is to receive $10 million at the end of each of the next three years plus an ad..
Find out the minimum space requirements for a factory shed, where such lathes are to be installed. The production is done on single shift basis, @ 8 hrs per day for a week of 6 working days and for 50 weeks/year.
Foreign currency translation adjustments arising from translation of the financial statements of a foreign subsidiary are reported in:
An appraisal showed that the fair market value of inventory was $300,000 and that the fair market value of the plant assets was $1,250,000. The fair market value of the receivables is equal to book value. The agreed purchase price was $2,200,000 m..
A corporation has 40,000 shares of $25 par value stock outstanding. If the corporation issues a 4-for-1 stock split, the number of shares outstanding after the split will be
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