Archer Company issued 4,000,000 par value, 7% convertible bonds at 99 for cash. The net present value

Question:

Archer Company issued £4,000,000 par value, 7% convertible bonds at 99 for cash. The net present value of the debt without the conversion feature is £3,800,000. Prepare the journal entry to record the issuance of the convertible bonds.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Principles

ISBN: 978-0470534793

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

See More Books

Question Posted: Sep 23, 2022 01:50 AM

See More Questions

Archer plc issued 4,000,000 par value, 7% convertible bonds at 99 for cash. The net present value of the debt without the conversion feature is 3,800,000. Prepare the journal entry to record the...
Prepare the journal entry to record income taxes on December 31, 2011, assuming that Turner Corporations income tax expense is $35,000 and that it owes $30,000 in income taxes to the government....
Prepare the Journal entry to record the inventory Shrinkage and prepare all closing entries. The trial balance for a merchandiser, before the journal entries below, is as follows. A physical count of...
The following are the Ledger Balance (in thousands) extracted from the books of Vaishnavi Bank Ltd as on March 31, 2016. The bank's Profit and Loss Account for the year ended and Balance Sheet as at...
You have the following information about Burgundy Basins, a sink manufacturer. Burgundy is contemplating what for the company is an average-risk investment costing $40 million and promising an annual...
In Problem 9.6, what is your statistical decision if you test the null hypothesis at the 0.10 level of significance? In Problem 9.6 What is the p-value if, in a two-tail hypothesis test, Z STAT =...
Beach erosional hot spots. Refer to the U.S. Army Corps of Engineers study of beach erosional hot spots, presented in Exercise 3.167 (p. 205). The data on the nearshore bar condition for six beach...
Respond to each of the following comments that you heard related to the audit of Swan Company, a public entity. a. We dont need to consider the risk of material misstatement in our work because we...
Capri Company began the current period with a $40,000 credit balance in the K. Capri, Capital account. At the end of the period, the company's adjusted account balances Include the following...
A national catalog and Internet retailer has three warehouses and three major distribution centers located around the country. Normally, items are shipped directly from the warehouses to the...
When viewing a specimen through a light microscope, scientists use _________ to distinguish the individual components of cells. a. A beam of electrons b. Radioactive isotopes c. Special stains d....
Archer Company issued 4,000,000 par value, 7% convertible bonds at 99 for cash. The net present value of the debt without the conversion feature is 3,800,000. Prepare the journal entry to record the...
You are analyzing water samples from a local stream and want to use the intense red color of Fe(SCN) 2+ to measure the concentration of Fe 3+ . You need to know the formation constant (Topic 6I) for...
Piperel Lake Resort's four employees are paid monthly. Assume an income tax rate of 20%. Required: Complete the payroll register below for the month ended January 31, 2021. (Do not round intermediate...
4. [Communication network 1] Consider the communication network shown in the figure below and suppose that each link can fail with probability p. Assume that failures of different links are...
The 60 deg strain gauge rosette is mounted on the bracket. The following readings are obtained for each gauge a = 100 106, b = 250 106, and c = 150 106. Determine: (a) the strains x, y, and xy for...
Assume the ledge has the dimensions shown and is attached to the building with a series of equally spaved pins around the circumference of the building. Design the pins so that the ledge can support...
Describe in detail about the arterial supply and venous drainage of heart with its Applied Anatomy?
What kind of preferences are represented by a utility function of the form u(x 1 , x 2 ) = x 1 + x 2 ? Is the utility function v(x 1 , x 2 ) = x 2 1 + 2x 1 x 2 + x 2 a monotonic transformation of u(x...
Which of the following statements is false? a. Capital leases are not commonly reported in a Capital Projects Fund. b. A governmental entity may report a Capital Project Fund in one year but not the...
Eckert Company is involved in producing and selling high-end golf equipment. The company has recently been involved in developing various types of laser guns to measure yardages on the golf course....
Eckert Company is involved in producing and selling high-end golf equipment. The company has recently been involved in developing various types of laser guns to measure yardages on the golf course....
Hannon Company makes swimsuits and sells these suits directly to retailers. Although Hannon has a variety of suits, it does not make the All-Body suit used by highly skilled swimmers. The market...
Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek Co. as of May 1, 2019 (unless otherwise indicated), are as follows:...
1-When accounting for an acquisition, goodwill is the difference between what two things? 2- What factors should be considered when deciding whether an acquisition should be financed with cash or...
What is the main friction Fluidity aims to address? REAL STATE

Archer Company issued 4,000,000 par value, 7% convertible bonds at 99 for cash. The net present value

Question:

Step by Step Answer:

Cash 4000000 99 396000...View the full answer

Accounting Principles

Students also viewed these Business questions