On August 1, 2015, $250,000 of bonds were 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. Note: Due to rounding and significant digits, there may be slight number differences. Instructions: Prepare the journal entries to record the conversion, amortization, and interest in connection with the bonds as of the following dates: (Round to the nearest dollar.) (a) August 1, 2015. (Assume the book value method is used.) (b) August 31, 2015. (c) December 31, 2015, including closing entries for end-of-year.
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Business, 22.06.2019 10:30
Zapper has beginning equity of $257,000, net income of $51,000, dividends of $40,000 and investments by stockholders of $6,000. its ending equity is
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Business, 22.06.2019 11:30
Buyer henry is going to accept seller shannon's $282,500 counteroffer. when will this counteroffer become a contract. a. counteroffers cannot become contracts b. when henry gives shannon notice of the acceptance c. when henry signs the counteroffer d. when shannon first made the counteroffer
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Business, 22.06.2019 13:10
Lin corporation has a single product whose selling price is $136 per unit and whose variable expense is $68 per unit. the company’s monthly fixed expense is $32,400. required: 1. calculate the unit sales needed to attain a target profit of $5,000. (do not round intermediate calculations.) 2. calculate the dollar sales needed to attain a target profit of $8,400.
Answers: 3
On August 1, 2015, $250,000 of bonds were turned in for conversion into common stock. Interest has b...
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