Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
1. (Entries for Conversion, Amortization, and Interest of Bonds) Volker Inc. issued $2,500,000 of convertible 10-year bonds on July 1, 2010. The bonds provide for 12% interest payable semiannually on January 1 and July 1. The discount in connection with the issue was $54,000, which is being amortized monthly on a straight-line basis. The bonds are convertible after one year into 8 shares of Volker Inc.'s $100 par value common stock for each $1,000 of bonds. On August 1, 2011, $250,000 of bonds was turned in for conversion into common stock. Interest has been accrued monthly and paid as due. At the time of conversion any accrued interest on bonds being converted is paid in cash.(Round to nearest dollar) Prepare the journal entries to record the conversion, amortization, and interest in connection with the bonds as of the following dates.
(a) August 1, 2011. (Assume the book value method is used.)
(b) August 31, 2011.
(c) December 31, 2011, including closing entries for end-of-year.(AICPA adapted)
1. the cash flow on total assets ratio is defined as cash flows from operations divided by average total assets.select
type your question herelankford manufacturing carries no inventories. its product is manufactured only when a customers
UJ Gas is a utility that has followed a policy of increasing dividends every quarter by 5 percent over dividends in the prior year. The company announces that it will increase quarterly dividends from $1.00 to $1.02 next quarter.
For governmental agencies, a budget places a legal limit on expenditures. As employees are asked for input into the budgeting process, what types of biases are likely to be encountered? Explain why these biases exist.
prepare journal entries in the internal service fund to record the transactionsinternal service funds are accounted for
Using the accounting equation, answer each of the following independent questions. 1. Burlin Company starts the year with $100,000 in assets and $80,000 in liabilities. Net income for the year is $25,000, and no dividends are paid. How much is owne..
the following balances were taken from the books of parnevik corp. on december 31 2012.interest revenue 88800
They predict annual partnership net income of $ 240,000 and are considering the following alternative plans of sharing income and loss:
analyze the major way in which IFRS and GAAP differ on the accounting treatment
Annual salary from Moveable Feast
in 2013 chirac enterprises issued at par 60 1000 8 bonds each convertible into 100 shares of common stock. chirac had
knoke corporations contribution margin ratio is 29 and its fixed monthly expenses are 17000. if the companys sales for
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd