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On January 1, 2011, Trillini Corporation issued $4,490,000 of 10-year, 10% convertible debentures at 103. Interest is to be paid semiannually on June 30 and December 31. Each $1,000 debenture can be converted into 9 shares of Trillini Corporation $100 par value common stock after December 31, 2012. On January 1, 2013, $898,000 of debentures are converted into common stock, which is then selling at $110. An additional $898,000 of debentures are converted on March 31, 2013. The market price of the common stock is then $116. Accrued interest at March 31 will be paid on the next interest date. Bond premium is amortized on a straight-line basis. Make the necessary journal entries for: (a) December 31, 2012. (c) March 31, 2013. (b) January 1, 2013. (d) June 30, 2013. Record the conversions using the book value method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit
Calculate the company's unit contribution margin and calculate the company's unit contribution ratio
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cabot company collected the following data regarding production of one of its products. compute the direct materials
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There are no earnings and profits from C corporationn years. Calculate Sonny's built-in gains tax liability.
The University of Danville is a private not-for-profit university that starts the current year with $700,000 in net assets: $400,000 unrestricted, $200,000 temporarily restricted, and $100,000 permanently restricted.
You received an email from Carl the operations manager from the California Container division. They produce packaging for cell phones. Carl understands that his product is an important cash producer for the company.
news corporation is considering investing 65000 in equipment to produce a new product. the useful service life of the
Blue Company sold machinery for $45,000 on December 23, 2010. The machinery had been acquired on April 1, 2008, for $49,000 and its adjusted basis was $14,200. The § 1231 gain, § 1245 recapture gain, and § 1231 loss from this transaction are:
Eve's Apples opened business on January 1, 2011, and paid for two insurance policies effective that date. The liability policy was $36,000 for eighteen months, and the crop damage policy was $12,000 for a two-year term. What was the balance in Eve..
debra acquired the following new assets during 2013april 11 - furniture - 40000july 28 - trucks - 40000november 3 -
1. journalize the following accrued expense transactionsa. xyz company purchased a one-year insurance policy on august
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