The total unamortized bond premium at the date of conversion was $280,000. Fogel should record, as a result of this conversion, a <span>credit of $217,600 to Paid-in Capital in Excess of Par. Thee answer is A.
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Answer:
$6,237,600
Explanation:
The computation of Estimate commission revenues is shown below:-
In the Coming year the market volume = 100% - 20%
= 80%
In the Coming year the number of sales = 100% - 8%
= 92%
In the coming year the Average commission per trade = 100% + 13%
= 113%
Commission revenue = Sold tickets × Average commission × In the Coming year the market volume × In the Coming year the number of sales × In the coming year the Average commission per trade
= 750,000 × $10 × 0.80 × 0.92 × 1.13
= $6,237,600
We applied the same formula to find out the commission revenue earned by the company
Answer:
the amount reported as proceeds from bond issuance is $4,509,000
Explanation:
The computation of the amount reported as proceeds from bond issuance is as follows
Total Bond Issued during 2021
= Bonds payable, December 31, 2021 - Bonds payable, January 1, 2021 + Bond Payable retired
= $4,830,000 - $809,000 + $807,000
= $4,828,000
Now
Bond issued for cash is
= Total bond issued - Bonds issued in exchange for Equipment
= $4,828,000 - $319,000
= $4,509,000
Hence, the amount reported as proceeds from bond issuance is $4,509,000
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