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On January 1, 2012, when its $30 par value common stock was selling for $80 per share, a corporation issued $10 million of 10% convertible debentures due in 10 years. The conversion option allowed the holder of each $1,000 bond to convert it into 6 shares of the corporation's $30 par value common stock. The debentures were issued for $11 million. At the time of issuance, the present value of the bond payments was $8.5 million, and the corporation believes the difference between the present value and the amount paid is attributable to the conversion feature. On January 1, 2013, the corporation's $30 par value common stock was split 3 for 1. On January 1, 2014, when the corporation's $10 par value common stock was selling for $90 per share, holders of 40% of the convertible debentures exercised their conversion options. The corporation uses the straight-line method for amortizing any bond discounts or premiums. Required: 1. Prepare the journal entry to record the original issuance of the convertible debentures. 2. Prepare the journal entry to record the exercise of the conversion option, using the book value method. Show supporting computations in good form.
Prepare a business-to-business message that has ABC Company asking to create a working relationship with XYZ Company.
How a person conducts a basic SWOT analysis of an organization or department to which a person belongs to.
Then Ken receives a telegram saying the fellowship has been cancelled. No reason is given for the cancellation. If Ken sues, will he be able to collect the money from the foundation which promised the fellowship? Elucidate your answer using legal ..
Do managers like Janis Blancero face a more complicated decision when evaluating the personal requests of employees versus evaluating employees individual work performance? Explain.
Explain The final category is lunches and inexpensive sandwiches and which you expect to total 20,000 units at an average price
Electric Depot sells boxes of high efficiency light bulbs ($8 box) and switch plates ($10 each). In June, total sales were $42000. Customers bought 5 times as many boxes of light bulbs as switch plates. Explain how many of each did Electric Depot ..
Why are people fearful of change and as an employer, what are some ways to help employees cope with changes
What implications if any, would cumulative worker protections have upon the ability of American companies to compete globally? Have worker protections eventually hurt European industries concerning their aptitudes to compete in the global marketpl..
Kristen Cookie's are contemplating to transfer their cookie business and enter to high end pizza market. You would purchase a new oven dedicated to the new pizza division, which would be staffed only by the two of you.
How has the increase of Ecuador as a center for rose growing benefited consumers in developed nations who purchase the roses?
What are some of the unique issues that confront public relations in the 21st century? What may be the primary areas of opportunity for public relations professionals in the years ahead? Be specific in your answer.
Describe the value to individuals of knowing the factors that cause start-ups to fail, in less than a year after inception.
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