Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi can u help me to find out answers -125 Prepare adjusting journal entry for Cullumber Corp. at the end of its focal year of

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribedHi can u help me to find out answers
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
-125 Prepare adjusting journal entry for Cullumber Corp. at the end of its focal year of December 31, 2020. Credits outomatically indented when the amount is entered. Do not indent manually to try to Entry for the titles and enter for the amounts. Round answers to decimal places 5.275) Date Account Titles and Explanation Debit Credit December 31, 2020 cTextbook and Media List of Accounts Prepare the journal entry required for Cullumber Corp, ita quarter of the warrants are earthed on iway 1.2023 account titles are automatically indented when the amount is entered. Do not indent Round werden 5,275) Question 1 of 6 Prepare an amortization table for the notes using the effective interest thod anderen 5375 SCHEDULE FOR INTEREST AND DISCOUNT AMORTIZATION EFFECTIVE INTEREST METHOD Effective DO Interest Amortired Cash Interest Date 1/1/20 12/31/20 $ 12/31/21 12/31/22 12/31/23 12/31/24 Total 5 eTextbook and Media Question 1 of 6 View Policies Current Attempt in Progress -125 On January 1, 2020, Cullumber Corp. issued $1.110,000 of five year, zero-interest-bearing notes Wong with warranty 1.030,000 common shares at $20 per shure. On January 1, 2020. Cullumber had 93 million common shares outstanding and the market price was $19 per share. Cullumber Corp.received 51,030,000 for the notes and warrant offered one on onary 2020, the notes would have been issued to yield 11% to the creditor. Assume that the company follows IFRS Prepare the journal entry to record the issuance of the zero-interest-bearing notes and warrants for the cash consideration that was received. (Credit account titles are automatically indented when the amount is entered. Do not indent marily Bound answers to decimal places es 5.250) Date Account Titles and Explanation Debit Credit January 1, 2020 e Textbook and Media Inf Account Question 2 of 6 -/15 E View Policies Current Attempt in Progress On January 1, 2020, Carla Vista Corporation granted 6,100 options to executives. Each option entities the bolder to purchase one share of Carla Vista's common shares at $35 per share at any time after January 1, 2022. The shares market prices $50 per share on the date of grant, and the required service period is two years. Prepare Carla Vista's journal entries for January 1, 2020, and December 31, 2020 and 2021. Assume that the options tar values calculated using an options pricing model is $138.000. Ignore forfeitures for simplification purposes. Credit account the are automatically indented when the amount is entered. Do not indent morally in entry is required, select "No Entry for the contes and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Question 3 of 6

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Reporting And Analysis

Authors: John Dunn, Margaret Stewart

1st Edition

0470973609, 9780470973608

More Books

Students also viewed these Accounting questions

Question

=+a) Whether to invest in solar energy companies.

Answered: 1 week ago

Question

Discuss about Intermodal transportation.

Answered: 1 week ago

Question

Has each action got a clear and measurable outcome?

Answered: 1 week ago

Question

Have you eliminated jargon and unexplained acronyms?

Answered: 1 week ago