Answer:
$28.57
Explanation:
The holders of ZZZ corporation bonds with a face value of $1000
It can be exchanged for 35 share of the stock
The stock is being sold for $25.00
Therefore, the conversion price can be calculated as follows
= $1000/35
= $28.57
Hence the conversion price is $28.57
Answer:
What did the company purchase that resulted in the cash outflow from investing activities?
It purchases Land for 16,500
Explanation:
The investing activities outflow will be for the purchase of long tem assets in cash.
The complete cash outflow for investing activities is explain it through the land account:
cash outflow: 16,500
land: 16,500
There are no other long-term assets which can explain the variance plus, the land account covers the amount entirely.
Answer:
The Journal entries are as follows:
(a) On November 5,
Merchandise inventory A/c Dr. $6,000
To Accounts payable $6,000
(To record the purchasing of Merchandise inventory)
(b) On November 7,
Accounts payable A/c Dr. $250
To Merchandise inventory $250
(To record the returned units)
(c) On November 15,
Accounts payable A/c Dr. $5,750
To cash $5,635
To Merchandise inventory $115
Workings:
Final amount due:
= Cost of goods purchased - Cost of goods returned
= 6,000 - 250
= $5,750
Discount amount:
= Final amount due × Discount percentage
= 5,750 × 2/100
= $115
Cash payment to be made:
= Final amount due - Discount amount
= 5,750 - 115
= $5,635
Answer:
The answer is letter C
Explanation:
The quantity of goods or services that can be produced by one hour of work