Q: Lee Equipment Company issued 200 of 8-year, 6%
Lee Equipment Company issued 200 of 8-year, 6% convertible bonds for $227,200. Each bond had a par value of $1,000. Each $1,000 bond converts into eight shares of $1 par value common stock at the opti...
See AnswerQ: Long-Term Notes Payable, Semiannual Interest, Amortization Table.
Long-Term Notes Payable, Semiannual Interest, Amortization Table. On January 1, 2018, Priolo Builders Company borrowed $650,000 by issuing 4%, 5-year notes. The full amount of the cash was received im...
See AnswerQ: On September 30, 2018, Laurino Landscaping Company issued a 6
On September 30, 2018, Laurino Landscaping Company issued a 6-year, 3%, $800,000 note payable. The note was issued on a date when the market rate was 5%. Interest at 3% is due annually every September...
See AnswerQ: Freiberg Associates issued $700,000 par value, 4-
Freiberg Associates issued $700,000 par value, 4-year, zero-coupon bonds on January 1, 2018. The market rate of interest on the date of the bond issue was 4%. Bond issue costs are $3,600. The company’...
See AnswerQ: On January 1, 2018, Tara Clothing Corporation issued $900
On January 1, 2018, Tara Clothing Corporation issued $900,000 par value, 5%, 6-year bonds. Interest is payable semiannually each January 1 and July 1 with the first interest payment due at the end of...
See AnswerQ: On January 1, 2018, Organic Products issued $1,
On January 1, 2018, Organic Products issued $1,200,000 par value, 7%, 5-year bonds. Interest is payable semiannually at the end of the period. The market rate of interest on the date of the bond issue...
See AnswerQ: Summa Manufacturing Company issued $900,000 par value, 5
Summa Manufacturing Company issued $900,000 par value, 5%, 5-year bonds dated January 1, 2018. The bonds pay interest semiannually each June 30 and December 31. Summa issued the bonds on April 30, 201...
See AnswerQ: Tyka Manufacturing Company, an IFRS reporter, issued $900,
Tyka Manufacturing Company, an IFRS reporter, issued $900,000 par value, 5%, 5-year bonds dated January 1, 2018. The bonds pay interest semiannually each June 30 and December 31. Tyka received cash of...
See AnswerQ: Using the information provided in E16-14, assume that Douglas
Using the information provided in E16-14, assume that Douglas elected the fair value option on the date of acquisition. At the end of the year of acquisition, Kirk’s shares are trading for $18 per sha...
See AnswerQ: On January 1, 2018, Super View Video, Incorporated issued
On January 1, 2018, Super View Video, Incorporated issued $1,550,000 of $1,000 par value, 8%, 6-year bonds. Interest is payable semiannually each January 1 and July 1 with the first interest payment d...
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