1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
emmasim [6.3K]
3 years ago
5

For each of the unrelated transactions described below, present the entries required to record each transaction.

Business
1 answer:
Mars2501 [29]3 years ago
6 0

Answer:

Journal Entry

Explanation:

The Journal Entry is shown below:-

1. Cash Dr,                                                $19,618,250

Discount on bonds payable Dr,               $606,750

          To Bonds payable                                           $20,225,000

(Being Bonds issued is recorded)

Working Note:-

Cash = ($20,225,000 × (97 ÷ 100)

=  $19,618,250

So, the bonds has been issued a discount. The par value of the bonds is 100.

2. Cash Dr,                                                $19,416,000

Discount on bonds payable Dr,               $1,820,250

          To Bonds payable                                           $20,225,000  

          To Paid in capital share warrants                   $1,011,250

(Being bonds issued is recorded)

Working Note:-

The Value of bonds issued at a discount

So, value of bonds = ($20,225,000 × ($96 ÷ $100)

= $19,416,000

Now, Value of warrants = ($20,225,000 ÷ 100) × $5

= $1,011,250

Total value of bonds including warrants = Value of bonds + Value of warrants

= $19,416,000 + $1,011,250

= $21,236,250

3. Debt conversion expense Dr,      $78,300

Bonds payable Dr,                             $10,342,000

          To discount payable                            $58,600

           To common stock                               $1,034,200

           To paid in capital in excess

            of common stock                                $9,249,200

           To cash                                                  $78,300

(Being debt conversion is recorded)

You might be interested in
Meiji Isetan Corp. of Japan has two regional divisions with headquarters in Osaka and Yokohama. Selected data on the two divisio
abruzzese [7]

Answer:

Please check the info below

Explanation:

1. For Osaka

Margin =  Net Operating Income / Sales *100

= $ 792000 / $9900000 *100

= 8.00%

Turnover = Sales / Average Operating Assets * 100

= $ 9900000 / $ 2475000 * 100

= 4.00%

ROI =  Margin * Turnover

= 8% *4 %

= 32.00%

Hence the correct answer is 32.00%

For Yokohama :

Margin =  Net Operating Income / Sales *100

= $ 2900000 / $ 29000000*100

= 10.00%

Turnover = Sales / Average Operating Assets * 100

= $ 29000000 / $ 14500000* 100

= 2.00%

ROI =  Margin * Turnover

= 10% *2 %

= 20.00%

Hence the correct answer is 20.00%

2. The correct answer is  

Osaka = $ 371,250

Yokohama = $ 435,000

3. The correct answer is No

This is because since Osaka has a higher ROI, Yokohama’s greater amount of residual income is not an indication that it is better managed

4 0
3 years ago
A special barrel freezer is then used to gradually freeze the ice cream. The machine also pumps clean air into the mix. This ste
zvonat [6]

Answer:

Hmmmm... Brainly??

Explanation:

Hope this helps!!! lol

3 0
3 years ago
Stone Furniture Store has credit sales of $400,000 in 2008 and a debit balance of $600 in the Allowance for Doubtful Accounts at
AlekseyPX

Answer:

pm jvvjvvjvjvjkbkkvkkbbkkbbjjv

3 0
3 years ago
When rejecting an idea because it is not in your company's best interests,
Reika [66]
I could be wrong but id say d
7 0
3 years ago
Tattletale News Corp. has been growing at a rate of 10% per year, and you expect this growth rate in earnings and dividends to c
elixir [45]

A.$1.266

B. 24.87%

Explanation: see attached file

8 0
3 years ago
Other questions:
  • Modern corporation operates a steel mill. it has never contributed anything to the local community, and it knowingly pollutes bo
    11·1 answer
  • Sean works for Cash'n'Carry, a payday loan company. He has been asked to develop an ethical mission statement to reassure custom
    5·1 answer
  • Carter & Carter is considering setting up a regional lockbox system to speed up collections. The company sells to customers
    8·1 answer
  • Houston pumps recently reported $185,250 of sales, $140,500 of operating costs other than depreciation, and $9,250 of depreciati
    15·2 answers
  • When an organization has a diverse set of employees that can provide insight and cultural sensitivity, this should improve the c
    10·1 answer
  • Crane Company had 190000 shares of common stock, 19000 shares of convertible preferred stock, and $1490000 of 4% convertible bon
    13·1 answer
  • For the current year, Power Cords Corp. expected to sell 42,000 industrial power cords. Fixed costs were expected to total $1,65
    9·1 answer
  • Answer the question on the basis of the following two schedules, which show the amounts of additional satisfaction (marginal uti
    13·1 answer
  • Marilyn has a biweekly gross pay of $810 and claims 3 federal withholding allowances. Marilyn has all of the following deduction
    11·1 answer
  • Joseph wants to take out a large loan. He has always paid his bills on time and has a fantastic credit score. He has been with h
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!