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
Katena32 [7]
3 years ago
15

Hoffman Corporation issued $60 million of 9%, 15-year bonds at 106. Each of the 60,000 bonds was convertible into one share of $

1 par common stock. Prepare the journal entry to record the issuance of the bonds. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
Hatshy [7]3 years ago
8 0

Answer:

Dr Cash $63,600,000

Cr Premium on Bonds $3,600,000

Cr Bonds payable $60,000,000

Explanation:

Preparation of the journal entry to record the issuance of the bonds.

Dr Cash $63,600,000

(106%*$60,000,000)

Cr Premium on Bonds $3,600,000

($63,600,000-$60,000,000)

Cr Bonds payable $60,000,000

(To record issuance of the bonds)

You might be interested in
​atrade foods inc. is a chain of supermarkets where part of employees' monthly paychecks depend on customer satisfaction. 80 per
jenyasd209 [6]
​In this case where the company is concerned about the satisfaction of the employees, Atrade foods inc. is committed to total quality management. (TQM).
TQM is an organizational approach to success in which the goal is the company to be continuously improves, with <span>improved quality and performance.</span>
5 0
3 years ago
The Director of Information Technology for the city of Tampa, Florida formed a company to sell computer supplies and software. A
yanalaym [24]

Answer:

1. Recording

2. Authorization

Explanation:

Based on the scenario described above, it can be concluded that the control issue, in this case, arose because the Director had both RECORDING and AUTHORIZING duties.

This is because, for the Director of Information Technology for the city of Tampa, Florida not to have been convicted by a jury regardless of what she did, she must have followed the Segregation of Duties accordingly. This is a means of reducing the errors or fraudulent activities of employees.

And given she has a RECORD of transactions to prove her innocence and at the same time, she has AUTHORIZATION or the approval to supply the software, and hence, she is not guilty of the accusation.

3 0
3 years ago
A birthday party at the skating rink costs $ 60 to reserve a party area and $ 2. 50 per guest for skating and skate rental. How
frez [133]
<h2>Cost:</h2>

Costs are the expenses incurred by a company or an individual in<u> order to</u> produce goods and deliver services or buy products.

<h3>The computation:</h3>


\text{The cost} = 60 + (2.50 × 15)

\text{The cost} = 97.5 \text{ dollars}

Therefore, the birthday party will cost $97.5 if 15 guests are<u> invited.</u>

<u />

For more information regarding the sums, refer below:

brainly.com/question/14107176

3 0
3 years ago
Read 2 more answers
Changing the appearance of selected text in a document is a common type of ___
Rina8888 [55]
Character formatting. 
4 0
3 years ago
Skoff Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished
puteri [66]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Refurbishing materials:

Variable cost= $600

Fixed costs= $18,800

Estimated cost= 600*35 + 18,800= $39,800

Actual cost= 600*32 + 18,800= $38,000

Refurbishing activity variance= Estimated - actual cost

Refurbishing activity variance= 39,800 - 38,000= 1,800 favorable

5 0
3 years ago
Other questions:
  • You want $1,000,000 when you retire in 40 years. You decided to save some money every year next 40 years for your retirement. Yo
    8·1 answer
  • The comparative statements of Cullumber Company are presented here.
    6·1 answer
  • A company reports the following: Sales $4,560,000 Average accounts receivable (net) 380,000 Determine (a) the accounts receivabl
    9·1 answer
  • A note receivable is a negotiable instrument which can be transferred to another party by endorsement. takes the place of checks
    7·1 answer
  • Jim Braun has been a partner in a real estate investment partnership with Alicia Kaynes for 10 years. When the real estate marke
    13·1 answer
  • On November 1, Bahama National Bank lends $4 million and accepts a six-month, 6% note receivable. Interest is due at maturity. R
    13·1 answer
  • The loan officer at 2nd National Bank tells Lana she can afford a monthly payment of $1,900 on her new home loan. Assuming this
    8·1 answer
  • You are called by Tim Duncan of Spurs Co. on July 16 and asked to prepare a claim for insurance as a result of a theft that took
    10·1 answer
  • Value is the cash value of an investment at some time in the.
    6·1 answer
  • A customer comes into its local bank branch and tries to withdraw a large amount. the bank tells him that it has ""insufficient
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!