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.On August 31, 2010, Chickasaw Industries issued $25 million of its 30 year, 6% convertible bonds dated August 31, priced to yield 5%. The bonds are convertible at the option of the investors into 1,500,000 shares of Chickasaw's common stock. Chickasaw records interest expense at the effective rate. On August 31, 2013, investors in Chickasaw's convertible bonds tendered 20% of the bonds for conversion into common stock that had a market value of $20 per share on the date of the conversion. On January 1, 2012, Chickasaw Industries issued $40 million of its 20 year, 7% bonds dated January 1 at a price to yield 8%. On December 31, 2013, the bonds were extinguished early through acquisition in the open market by Chickasaw for $40.5 million.Required:1. Using the book value method, would recording the conversion of the 6% convertible bonds into common stock affect earnings? If so, by how much? Would earnings be affected if the market value method is used? If so, by how much?2. Were the 7% bonds issued at face value, at a discount, or at a premium? Explain.3. Would the amount of interest expense for the 7% bonds be higher in the first year or second year of the term to maturity? Explain.4. How should gain or loss on early extinguishment of debt be determined? Does the early extinguishment of the 7% bonds result in a gain or loss? Explain.
Kentucky Enterprises purchased a machine on January 2, 2010, at a cost of $120,000. An additional $50,000 was spent for installation, but this amount was charged erroneously to repairs expense. The machine has a useful life of five years and a sal..
the following information regardingthe total overhead of a company for a 4 month period machine hrs
Jane's travel budget for October was $330, based on her plan to drive 1,500 miles at a cost of $0.22 per mile. During October, she actually drove 1,250 miles at a cost of $290. A flexed budget performance report would show a variance of:
assume you recently accepted a job with a company that designs and builds helicopters for commercial and military use.
jackie chin waste management has a subsidiary that disposes of hazardous waste and a subsidiary that collects and
Prepare a multi-step income statement for the Appully Company (a clothing retailer) for the year ending December 31, 2003 given the information
Group Communication
discuss how depreciation is calculated under the straight-line units-of-production and double-declining-balance
park corporation began the month of may with 1100000 of current assets a current ratio of 2.101 and an acid-test ratio
schuss corporation sold equipment to potsdam company for 29000. the equipment is on schusss books at a net amount of
jacks lumber yard receives 8000 large trees each period that it subsequently processes into rough logs by stripping off
Determine the book value of the goodwill on December 31, 2008, prior to making the impairment adjustment. Illustrate the effects on the accounts and financial statements of the December 31, 2008, adjustment for the goodwill impairment.
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