Q: On January 1, 2017, MacGregor Ltd. issued 1,
On January 1, 2017, MacGregor Ltd. issued 1,000 five-year, 10% convertible bonds at par of $1,000, with interest payable each December 31. Each bond is convertible into 100 common shares, and the curr...
See AnswerQ: Bantry Capital Ltd. issued 500 $1,000 bonds at
Bantry Capital Ltd. issued 500 $1,000 bonds at 103. Each bond was issued with 10 detachable stock warrants. After issuance, similar bonds were sold at 97, and the warrants had a fair value of $2.50. (...
See AnswerQ: Refer to BE16-12 but assume that the instruments are convertible
Refer to BE16-12 but assume that the instruments are convertible bonds and that they have now been converted. Assume that Bantry Capital Ltd. follows ASPE, and that all of the proceeds were allocated...
See AnswerQ: Refer to BE16-12. Assume that Bantry Capital Ltd.
Refer to BE16-12. Assume that Bantry Capital Ltd. follows IFRS and recorded the issuance of the bonds and warrants accordingly. On a date when the bonds had a carrying value of $489,100, Bantry paid $...
See AnswerQ: Refer to BE16-12. Assume that Bantry Capital Ltd.
Refer to BE16-12. Assume that Bantry Capital Ltd. follows ASPE and valued the debt component of the instruments first, applying the residual to the equity component. On a date when the bonds had a car...
See AnswerQ: Refer to the information in E19-16 and assume Opsco applies
Refer to the information in E19-16 and assume Opsco applies IFRS. Instructions: Complete a post-retirement work sheet for 2017, and prepare all required journal entries related to the plan made by Op...
See AnswerQ: Trelawny Ltd. issued 13,000 common shares upon conversion of
Trelawny Ltd. issued 13,000 common shares upon conversion of 10,000 preferred shares. The preferred shares were originally issued at $9 per share and the Contributed Surplus—Conversion Rights account...
See AnswerQ: Davison Corporation has puttable common shares outstanding. These shares give the
Davison Corporation has puttable common shares outstanding. These shares give the holder the option to require Davison to repurchase the shares for cash. In the event of liquidation, the holders of th...
See AnswerQ: Alimentation Couche-Tard Inc., Loblaw Companies Limited, and Empire
Alimentation Couche-Tard Inc., Loblaw Companies Limited, and Empire Company Limited are three companies in the same industry. Because of this, the expectation is that their operations and financial po...
See AnswerQ: In January 2017, Parker Inc. issued preferred shares that must
In January 2017, Parker Inc. issued preferred shares that must be redeemed by Parker if the fair value of the company’s common shares exceeds $100 per share. At time of issuance of the preferred share...
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