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Lesechka [4]
3 years ago
12

On January 1, the $3,000,000 par value bonds of Spitz Company with a carrying value of $3,000,000 are converted to 1,000,000 sha

res of $1 par value common stock. Record the entry for the conversion of the bonds.
Business
1 answer:
Mkey [24]3 years ago
4 0

Answer:

Dr bonds payable     $3,000,000

Cr common stock                                                                                 $1,000,000

Cr paid in capital in excess of par val.-common stock($3m-$1m)   $2,000,000

Explanation:

The conversion means that the bonds payable account is debited since the obligation has now been settled by a way of giving common stock in lieu.

The credit entries would comprise of par value of the conversion which is $1 par value multiplied by number of common stock of 1,000,000 which gives $1,000,000 while the remaining balance is credited to paid-in capital in excess-common stock

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Answer:

Explanation:

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3000/1.08+3000/1.08^2+3000/1.08^3+3000/1.08^4+3000/1.08^5=11,978

8 0
4 years ago
Riddell Company manufactures one type of basketball. Each basketball is sold for $55 and the individual contribution margin is $
4vir4ik [10]

Answer:

D. Step cost

Explanation:

Riddell Company manufactures one type of basketball. Each basketball is sold for $55 and the individual contribution margin is $27. Total fixed costs are $185,000 annually. Included in fixed costs are two production supervisor’s salaries of $96,000. Management estimates that production supervisors can effectively oversee the production of 6,000 basketballs. After that, an additional production supervisor needs to be hired.

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3 0
3 years ago
Stonybrook Organics—famous for its organic yogurt—came out with an advertisement that showed an idyllic setting of a cow resting
fomenos

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The corporation is marketing itself rather than its brand in corporate advertising. The thing to keep in mind here, nevertheless, is that organizational marketing is not meant to specifically sell something.

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Today was a tough day at Brightland Real Estate. Word came down from city hall about new zoning requirements that will make it h
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Answer:

<em>Good sportsmanship</em>

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This also means to believe the best, not the worst.

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4 years ago
Simplify what the mass of a 450 centimeter3 block of silicon if the density of silicon is 2.336 grams/centimeter3
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Answer:

asdasd

Explanation:

adsasd ada sdasdasd ada dasdadastsdfs tstsdf esf

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