Research and collect information.
<u>The phases of the 3 x 3 process are:</u>
1. Pre-writing: think about your audience, anticipate the reaction to your message adapt the message to the audience
2. Drafting: <u>research and collect information,</u> organize it and write the first draft
3. Revising: Edit, proofread, and make sure it meets the goals that you developed in the pre-writing process.
The amount of cost of goods sold using FIFO method is $110,000.
Hope this helps. :)
Answer:
The amount credited to common stock upon conversion of the bonds is $101000
Explanation:
When the bond was issued there would been a debit of $102000($100000*$102/$100) to cash account and credit of $102000 to liabilities split into $100000 bonds payable and $2000 bond premium.
However, on conversion to common stock with premium of $1000 outstanding in the books,the amount to be credited into common stock account is the issue value less outstanding premium.
The amount credited to common stock=$102000-$1000=$101000
This can be shown with entries below:
Dr Bond payable $100000
Dr Bond premium $1000
Cr Common stock $101000
