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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)

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<h3>What is Contribution Margin?</h3>

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The contribution margin =

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<h3>What is the bundle prices and Net Profit?</h3>

For Hydration Power Drink:

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7 0
1 year ago
Nora contracts to work for ABC Investments during June for $2,500. On May 31, ABC cancels the contract. Nora refuses to accept a
kap26 [50]

Answer:

c. $500

Explanation:

A contract is an agreement by two or more parties to perform a.certain activity within a given time.

When contract are breached, the beneficiary has the right to gain back the amount promised.

If the beneficiary can get another option, the other party is obligated to pay the balance.

On this instance Nora had the chance to get a new job at $2,000 salary the balance is $2,500 - $2,000= $500. Since she rejected the job she is responsible for that loss.

However ABC is still liable to pay the balance of $500

6 0
3 years ago
Suppose a three period weighted average is being used to forecast demand. Weights for the periods are as follows: 0.1, 0.4 and 0
nika2105 [10]

Answer:

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Basically we multiplied the weighatge with its demand observed so that the demand forecast could come

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3 years ago
When individual fishing boats harvest more fish each year in order to maximize profits while, as a result, threatening the fish
zimovet [89]
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belka [17]

Answer:

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