Chang Corporation issued $6,000,000 of 9%, ten-year convertible bonds on July 1, 2012 at 96.1 plus accrued interest. The bonds were dated April 1, 2012 with interest payable April 1 and October 1. Bond discount is amortized semiannually on a straight-line basis. On April 1, 2013, $1,200,000 of these bonds were converted into 500 shares of $20 par value common stock. Accrued interest was paid in cash at the time of conversion.
If "interest payable" were credited when the bonds were issued, what should be the amount of the debit to "interest expense" on October 1, 2012?
The gross profit margin (gross profit/sales) of ABC, Inc. is 0.25, its operating profit margin (EBIT/sales) is 14%, its TATO ratio is 1.50x, and its COGS is $600,000. ABC...Jul 15 2021
A group of landowners situated near the Sanders Lead Company brought suit to recover for damages to their agricultural property from accumulations of lead particulates an...Jul 26 2021
Starbucks Foreign Entry Strategy Forty years , Starbucks was a single store in Seattle's Peace Market selling premium r ed coffee. Today is a global rooster and retailer ...Aug 17 2020
The net present value method is consistent with the goal of shareholder wealth maximization. recognizes the time value of money. uses all of a project's cash flows. a...Dec 02 2019
PART 1: Set forth your views on some Website of E-commerce. (65 Points) Find some Website of E-commerce, discussion the questions as following, and then write the report ...Apr 19 2021
Matt has been asked for his best recommendation on two mutually exclusive projects. Project A has an NPV of $45,567 and Project B has an NPV of $34,543.32. His recommenda...Aug 22 2020
Why do you want to work with us?Jun 15 2021
Choose the correct answer.The newspaper article about global relations with China surprised him as much as (I, meJun 16 2021
Roads A, B, and C are the only escape routes from a state prison. Prison records show that, of the prisoners who tried to escape, 30% used road A, 50% used road B, and 20...Aug 03 2020
A circuit that measures the internal resistance of a practical ammeter is shown in Figure P2.74, where RS = 50000 QVS = 12 V, and Rp is a variable resistor that can be ad...Jun 18 2020