urnal entry for April 1, 2021 bond conversion?

Q: On July 1, 2020, Roberts Corporation issued $3,000,000 of 9% bonds payable in 20 years. The bonds…

A:

Q: On January 1, 2019, Maeve Company issued P6,000,000 of 12% bonds payable maturing in five years. The…

A: Market price of Bonds Payable P56,00,000 Market price of share warrants  P8,00,000 Total market…

Q: Sarasota Inc. issued $4,170,000 of 10%, 10-year convertible bonds on June 1, 2020, at 97 plus…

A: Solution: When a bond is sold at a discount, the amount of the bond discount must be amortized to…

Q: On July 1, 2021, an interest payment date, $148000 of Bramble Corp. bonds were converted into 2930…

A: Explanation: Value = Value of Bonds - Conversion Value - Unamortized Discount Value = $148000 -…

Q: On January 1,2020, ABC Company issued P 10,000,000 convertible bonds with a stated rate of 12% at…

A: Step 1 is for understanding initial Entries and Understanding the flow if you want Direct Answer…

Q: On July 1, 2020, Brimstone Company issued 5,000 P1,000 bonds with share warrants at its fair value…

A: Face value of the bonds = 5,000 x P1000                                        = P5,000,000 Interest…

Q: Waterway Inc. issued $15,400,000 of 12%, 40-year convertible bonds on November 1, 2020, at 98 plus…

A: a). Date Account title & Explanation Debit($) Credit($) December 31,2020 interest payable…

Q: Marigold Corp. issued $5840000 of 8%, ten-year convertible bonds on July 1, 2020 at 96.1 plus…

A: Given, Issued Price = $5,840,000 Rate = 8%

Q: Kingbird Inc. issued $2,100,000 of convertible 10-year bonds on july 1,2020. The bonds provide for…

A: a. % of bond converted = $210,000/$2,100,000 = .10 or 10% Period of Amortization = 10 x 12 = 120…

Q: On August 1, 2021, National Corporation issued $200,000 of 8% bonds at 99. The bonds mature in 10…

A: 1.

Q: Sunland Inc. issued $4,320,000 of 9%, 10-year convertible bonds on June 1, 2020, at 99 plus accrued…

A: Working Notes: Computation of discount on bonds payable: Particulars Amount (S) Semiannual…

Q: Compute diluted earnings per share for 2020 Diluted earnings per share_______ b) Compute diluted…

A: Interest on bonds = Face value x rate of interest = $1,800,000 x 6% = $108,000 Saving in interest…

Q: On December 31, 2021, Glimmer Company had outstanding P3,000,000 8% convertible bonds that mature on…

A: Requirement: conversion of bond into ordinary shares and asked to calculate share premium as a…

Q: Prepare all the necessary journal entries assuming the share warrants are fully exercised.

A: Issue price of bonds with warrants (5,000,000 x 103) =  515,000,000 Market value of bonds without…

Q: On December 31, 2016, ABC Corp. issues $50,000,000 of 5%, 25-year, convertible bonds for total…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: On August 31, 2015, Chickasaw Industries issued $25 million of its 30-year, 6% convertible bonds…

A: 1.

Q: On January 1, 2021, This Company issued 12%, 3 year, P4,000,000 convertible bonds at 110. Each…

A: Working note: Computation of equity portion of financial liability:

Q: On December 31, 2021, PISTACHIO Company had outstanding ₱20 million face value convertible bonds…

A: Bond is the debt instrument through which the company collects the fund. Bond holders are given 2…

Q: Aubrey Inc. issued $4,000,000 of 10%, 10-year convertible bonds on June 1, 2020, at 98 plus accrued…

A: Given information is: Aubrey Inc. issued $4,000,000 of 10%, 10-year convertible bonds on June 1,…

Q: On January 1, 2021, Silay Company issued 2,000 convertible bonds. The bonds have a 3 year term and…

A: Carrying amount of the bond states the net value among the face value of the bond plus or in…

Q: n January 1,2020, ABC Company issued P 10,000,000 convertible bonds with a stated rate of 12% at…

A: Bonds can be converted to the number of shares upon the expiration of bond. Or bonds may be retired…

Q: On January 1, 2019, Sasha Inc issued 10-year, P3,000,000 face value, 6% bonds, at par. Each P1,000…

A: Earnings per share are the amount per share which the shareholder earns after deducting the…

Q: California, Inc. had outstanding 10%, P1 million face value, convertible bonds maturing on December…

A: Conversion of Bonds:-Convertible Bond It a type of debt  issued by company for which company pays…

Q: On June 30, 2021, Marc Industries had outstanding $800 million of 8% convertible bonds that mature…

A: From the question we get the following data: Face value of the bond converted = $800 million * ½ =…

Q: On May 1, 2020, Manny Company issued P2 million, 20-year, 10% bonds for P2,120,000. Each P1,000 bond…

A: 1. Premium on bonds payable arises when the stated rate on bond is higher than its market value 2.…

Q: On January 1, 2019, Post Malone Company issued P6,000,000 of 12% bonds payable maturing in five…

A: Share warrant refers to the document which is issued through the company under the common seal and…

Q: On December 31, 2019, VENUS Company had 450,000 shares of ordinary shares outstanding. On September…

A: Basic EPS = Net incomeWACSWACS=Weighted Average common shares = Common shares * time outstanding12=…

Q: On January 1, 2025, Ariana Corporation issued its 8%, 5-year convertible debt instrument with a…

A:

Q: On January 1, 2020, Crocker Company issued 10-year, $2,000,000 face value, 6% bonds, at par. Each…

A: Interest on bonds = Face value x rate of interest = $2,000,000 x 6% = $120,000 Saving in interest…

Q: How much is the Share Premium arising from the exercise of share warrants?

A: As per our protocol we provide solution to the one question only but you have asked two questions…

Q: On December 31, 2021, HULK Corporation had outstanding ₱20,000,000 face value convertible bonds…

A: SOLUTION- WORKING NOTE- CALCULATION OF AMOUNT TO BE DEBITED FROM SHARE PREMIUM ACCOUNT- THE VALUE OF…

Q: On May 1, 2021, Duck Corporation issued $2,000,000 of 8% nonconvertible bonds at 104, which are due…

A: Isssue Price of Bonds ($2000000 * 104%) $20,80,000     Fair market value of bonds ($2000000 *…

Q: On January 1, 2019, Yellow Company issued its P3,000,000, 8%, 5-year bonds that resulted in a bond…

A: Share Premium: The Securities Premium is a provision of the Company Law that applies to the issuance…

Q: On January 1 , 2021, NAGAGA COmpany issued 3-year, 4,000 convertible bonds at face value of P1,000…

A: When a discounted bond is converted, the amount of the bond's discount must be amortized to interest…

Q: Hungry Hippo, Inc. called its convertible debt in 2020. The 10% $1,000,000 par value bonds were…

A:

Q: On January 2, 2019, Lindsay Corporation issued $800,000 of 8% convertible bonds at par. The bonds…

A: Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from…

Q: On December 31, 2021, PISTACHIO Company had outstanding ₱20 million face value convertible bonds…

A: On December 31, 2021 P20 million convertible bonds maturing on 31-12-2024 Interest payable annually…

Q: On August 1, 2021, Limbaugh Communications issued $30 million of 10% nonconvertible bonds at 104.…

A: a) Step 1: Prepare the journal entry to record the issuance of the bonds by Limbaugh

Q: to be paid annually in arrears at the stated coupon rate of 6%. Each bond is convertible, at the…

A: Given    Time  to maturity              =3 years   No. of  convertible bonds   = 400    Face value…

Q: Larkspur Inc. issued $3,780,000 of 10%, 10-year convertible bonds on June 1, 2020, at 99 plus…

A:

Q: On July 1, 2020, Berry Company issued 5,000 P1,000 bonds with share warrants at its fair value of…

A: bonds issued with share warrant here at the time of issue of the bonds by the company it will also…

Q: Marigold Corporation issued 2,100, ten year, 7% bonds for 104 on January 1, 2020. Interest is paid…

A: Journal entries refer to the process of systematic documentation of the financial transactions of a…

Q: Kingbird Inc. issued $2,100,000 of convertible 10- year bonds on july 1,2020. The bonds provide for…

A: In journal transactions are recorded chronologically and information regarded financial transaction…

Q: On January 1,2020, ABC Company issued P 10,000,000 convertible bonds with a stated rate of 12% at…

A: Working note: Computation of equity portion of the bond: Computation of carrying amount of bond…

Q: n January 1, 2020, Shredder Company Issued its 10%, 4-year convertible debt instrument with a face…

A: solution : This is a compound instrument We need to bifurcate it into financial liability and equity…

Q: On March 1, 2021, Doll Co. issued 10-year convertible bonds at 106. During 2024, the bonds were…

A: Treatment of the reporting of the cash proceeds from the issuance of the convertible bonds should be…

Q: Prepare the journal entries to record the conversion, amortization, and interest in connection with…

A:

Q: On January 1, 2021, Fowl Products issued $89 million of 6%, 10-year convertible bonds at a net price…

A: Req. Account Titles Debit Credit 1. Cash $91,500,000     Convertible bonds payable   $89,000,000…