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Travka [436]
3 years ago
6

On December 31, Lowland, Inc., converts its $900,000 par value bonds (carrying value also $900,000) into 90,000 shares of $6 par

value common stock. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus.
Business
1 answer:
Alexeev081 [22]3 years ago
5 0

Answer:

Lowland, Inc., entry to record this conversion includes a

Dr Bonds Payable $900,000

Cr Common Stock $540,000

( 90,000 shares x $6 par value per share)

Cr Paid-In Capital in Excess of Par Value $360,000

($900,000 -$540,000)

Explanation:

Since Lowland, Inc. converted its $900,000 par value bonds and carrying value also $900,000) into 90,000 shares of $6 par value common stock which means we have to Debit Bonds Payable with $900,000 and Credit Common Stock with $540,000 which is

( 90,000 shares x $6 par value per share) , then Credit Paid-In Capital in Excess of Par Value for $360,000 which is ( value of bonds converted of $900,000 - par value of shares of common stock issued of $540,000).

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nexus9112 [7]

Answer:

$2,317,000

Explanation:

The computation of the weighted-average accumulated expenditures for interest capitalization purposes is shown below:

For expenditure on March 1

= $1,932,000 × 10 months ÷ 12 months

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On December 31, it would be zero

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A business that purchases products in large quantities from producers and then sells it to another entity is know as a distributor. 

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True or False: Evaluation of a Request for proposal is based solely on price.
mixas84 [53]

Answer:

false.

Explanation:

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8 0
3 years ago
What is a good indicator of determining if you are exercising at the most beneficial intensity level?
Flura [38]

Answer:

Target heart rate.

Explanation:

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5 0
3 years ago
what marginal costs and benefits might a tour boat operator consider when deciding whether to purchase a new boat?
VladimirAG [237]

Answer

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