Question
In May 2017, Apple (NASDAQ: AAPL) filed a prospectus with the SEC, indicating that it would be issuing another $7 billion in bonds during 2017.
In May 2017, Apple (NASDAQ: AAPL) filed a prospectus with the SEC, indicating that it would be issuing another $7 billion in bonds during 2017. (Apple issued $10 billion in bonds in February 2017 in the US and $1 billion in Taiwan.)
With the bond proceeds, Apple will be buying back its own stock. Apple has also indicated that there will be a 10.5 percent dividend increase for its shareholders.
Q2.) What journal entry would Apple make when it issues $7 billion in bonds?
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds
6th Edition
78110890, 978-0078110894
