1.)
2.)
CAN ANYONE HELP ME WITH THESE! for the first question it need to have 5 entries and im confused. Thank you
1.2/3 Question 4 of 5 Current Attempt in Progress Your answer is partially correct. Marigold Corporation sold 160 convertible 10-year bonds with face value $160,000. The bonds pay interest December 31 each year. Each bond pays 4% annual interest and each bond can be converted to ten common shares at the bondholders' request. The sale resulted in conversion rights of $23,553, On January 1, 2021, Marigold offered the shareholders a price of 105 if they would agree to retire their bonds early. All of the bondholders agreed to retire their bonds early. At the time of the conversion, the market value of the bonds was $143,700 and the carrying value was $141,000. Prepare the journal entry to record the conversion of the bonds into common shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Bonds Payable 141.000 Contributed Surplus - Conversion Rights 23,553 Common Shares 160,000 Contributed Surplus - Conversion Rights Expired 8,000 Question 2 of 5 3.33/5 Current Attempt in Progress Your answer is partially correct. Oriole Corporation issued 4,700, five year, 3% bonds at 106 on January 1, 2020. Interest is paid annually. Each $1,000 bond carried one detachable warrant allowing the holder to purchase 100 common shares in Oriole at $11 per share, the price at which Oriole shares were trading on the day of the sale of the bonds. Similar straight bonds trading on the open market paid 6%. On June 30, 2020, 940 of the bond holders exercised the options to buy the shares. Prepare the journal entries to record these events. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answer to decimal places eg. 58,971. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan 1, 2020 Cash 4,982,000 Bonds Payable 4,700,000 Contributed Surplus - Stock Warrants 282,000 Jun 30, 2020 Cash Contributed Surplus - Stock Warrants Common Shares 1,090,400 1.034,000 56,400