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pashok25 [27]
3 years ago
12

Luke Corporation issued at a premium of $5,000 a $100,000 bond issue convertible into 2,000 shares of common stock (par value $2

0). At the time of the conversion, the unamortized premium is $3,000, the market value of the bonds is $110,000, and the stock is quoted on the market at $60 per share. If the bonds are converted into common, what is the amount of paid-in capital in excess of par to be recorded on the conversion of the bonds
Business
1 answer:
In-s [12.5K]3 years ago
8 0

Answer:

Face Value of Bonds = $100000

Unamortized Premium = $2000

Conversion of Equity Shares = 2000 * $20 = $40,000

Paid in Capital in Excess of Par = $100000 + $2000 - $40000 = $62000

            Journal Entries

Account Title & Explanation     Debit     Credit

Bond Payable Account            $100000

Unamortized Premium             $2000

    Common Stock                                     $40000

    Paid in Capital in Excess of par           $62000

(To record conversion of Bonds)

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Bezzdna [24]

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8 0
1 year ago
Participation in sport keeps youths off the street and out of trouble. This is central to which explanation of the relationship
inn [45]

Complete/Correct Question:

Participation in sport keeps kids off the street and out of trouble. This is central to which explanation of the relationship between organized sport and delinquency?

a. labeling

b. economic strains

c. undifferentiated arousal

d. social bonding

e. differential association

Answer:

E, Differential association

Explanation:

Differential Association is a criminology term invented by Edwin Sutherland that shows how interaction between these people influence people to learn attitudes, values. characters, techniques as well as criminal behavior from each other.

To this effect, participation in sports brings youths together and as such changes their thoughts and are influenced to have discipline, ethics, etc which is an important aspect of sportsmanship. This influences helps to keep youths off the street and out of trouble subsequently.

Cheers.

7 0
3 years ago
Last month, a processing facility (such as a check processing facility or a distribution center) transitioned from an unpaced as
bija089 [108]

Answer: b. Quality problem occurs

• c. It tends to decrease with the growing degree of division of labor

Explanation:

From the scenario on the question, the most likely thing to result is for quality problems to occur. Quality simply has to do with the extent to which a particular product satisfies already specified requirements.

Based on the scenarios such as the worker at the bottleneck station being replaced by another worker who works more slowly than the original worker, the quality will be affected.

Division of labor is when task are being delegated in a workplace so that efficiency can be improved. When there is a rise in the division of labor, learning is affected as there'll be a decrease as division of labor increases. This is because everyone has his or her role to play rather than learning more about other departments or roles, the worker will be typically focused on one role.

7 0
3 years ago
What job did drivers perform on large southern plantations?
Elan Coil [88]
The occupation did drivers perform on vast southern ranches since they managed the work of slaves. On the off chance that slaves did not take after requests, they likewise rebuffed the slaves.

I hope the answer will help you. 
4 0
4 years ago
The sales tax in Massachusetts is 5%. Joanne bought a wood stove with a sales tax of $15. What was the cost of the wood stove be
Leya [2.2K]

Answer:

$315

Explanation:

The before-tax cost of the wood stove would comprise of 100% sales price plus 5% sales tax as hinted.

If 5%=$15=sales tax

before-tax sales price=100% sales price+5% sales tax

before-tax sales price=105%

sales tax of 5%=$15

1%=$15/5

1%=$3

105%=$3*105

105%(before tax sales price)=$315

7 0
3 years ago
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