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:
Answer rating: 71% (7 reviews)
Cash 4000000 99 396000...View the full answer
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Business 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...
-
A slipper-pad bearing (Fig. P1023) is often encountered in lubrication problems. Oil flows between two blocks; the upper one is stationary, and the lower one is moving in this case. The drawing is...
-
Suppose the realized rate of return on government bonds exceeded the return on common stocks one year. How would you interpret this result?
-
Equity balances for Sen Widyaya appearing in the balance sheets of Widyayas Window Washing Services as at 30 June 2016, 2015 and 2014 are set out below: 30 June 2016 30 June 2015 30 June 2014 EQUITY...
-
Study several important types of discrete random variables and their probability models (4.44.6)
-
Five mutually exclusive investment alternatives have been proposed. Based on benefit-cost ratio analysis, and a MARR of 15%, which alternative should be selected? Year A -$200 D E -$125 100 -$125...
-
Ch. 11: Problem Solving 3: Basic Net Present Value Analysis L011-21 Windhoek Mines, Ltd., of Namibia, is contemplating the purchase of equipment to exploit a mineral deposit on land to which the...
-
1. If you were the owner or manager of a restaurant, would you have used Disheros service? Why or why not? 2. What, if anything, could Disheros co-founders have done in advance of launching the...
-
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...
-
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...
-
Issue Recognition Problems Identify the tax issue or issues suggested by the following situations and state each issue in the form of a question. During the first eight months of the year, Ms. V was...
-
Coronado Corporation accumulates the following data relative to jobs started and finished during the month of June 2025. Costs and Production Data Actual Standard Raw materials unit cost $2.20 $2.10...
-
Consider the following labor statistics for the adult population (age 16 and older) in Norway displayed in the table below (all numbers in millions). Employed 110 13 Not in Labor Force 75 Unemployed...
-
Blossom Variety Store uses the LIFO retail inventory method. Information relating to the computation of the inventory at December 31, 2026, follows: Cost Retail Inventory, January 1, 2026 $147,000...
-
Use polynomial division to show that the general expression for the factors of the difference of two cubes, x 3 - y 3 = ( x - y ) ( x 2 + xy + y 2 ) , is correct
-
A beam has a lenght of L = 9 m long and carrying the uniformly distributed load of w = 3 kN/m. w kN/m A RA a) Calculate the reaction at A. RA= KN L RB b) Calculate the maximum bending moment. Mmax=...
-
For each polynomial function, identify its graph from choices AF. (x) = (x - 2)(x - 5) . A. B. y F. D. E. y y y 2 5 0 2 5
-
Akramin just graduated with a Master of Engineering in Manufacturing Engineering and landed a new job in Melaka with a starting salary of RM 4,000 per month. There are a number of things that he...
-
The Bathtub Division of Kirk Plumbing Corporation has recently approached the Faucet Division with a proposal. The Bathtub Division would like to make a special ivory tub with gold-plated fixtures...
-
The Bathtub Division of Kirk Plumbing Corporation has recently approached the Faucet Division with a proposal. The Bathtub Division would like to make a special ivory tub with gold-plated fixtures...
-
The Appraisal Department of Bonita Bank performs appraisals of business properties for loans being considered by the bank and appraisals for home buyers that are financing their purchase through some...
-
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departments --Molding and Fabrication. It started, completed, and...
-
Horizontal Analysis The comparative accounts payable and long-term debt balances of a company are provided below. Current Year Previous Year Accounts payable $47,286 $63,900 Long-term debt 85,492...
-
On January 1, Year 1, Price Company issued $140,000 of five-year, 7 percent bonds at 97. Interest is payable annually on December 31. The discount is amortized using the straight-line method. Record...
Study smarter with the SolutionInn App