Business, 31.03.2020 04:42, missdee6929

On January 1, 2018, Madison Products issued $40.6 million of 6%, 10-year convertible bonds at a net price of $41.46 million. Madison recently issued similar, but nonconvertible, bonds at 97 (that is, 99% of face amount). The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 30 shares of Madison's no par common stock. Madison records interest by the straight-line method. On June 1, 2020, Madison notified bondholders of its intent to call the bonds at face value plus a 1% call premium on July 1, 2020. By June 30 all bondholders had chosen to convert their bonds into shares as of the interest payment date. On June 30, Madison paid the semiannual interest and issued the requisite number of shares for the bonds being converted, Required: 1. & 2. Prepare the journal entry for the issuance of the bonds by Madison and interest payment for the June 30, 2018. 3. Prepare the journal entries for the June 30, 2020, interest payment by Madison and the conversion of the bonds (book value method). Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Prepare the journal entry for the issuance of the bonds by Madison and interest payment for the June 30, 2018

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 19:20, kristen17diaz

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.

Answers: 1

continue

Business, 22.06.2019 19:50, hallkanay7398

Ichelle is attending college and has a part-time job. once she finishes college, michelle would like to relocate to a metropolitan area. she wants to build her savings so that she will have a "nest egg" to start her off. michelle works out her budget and decides she can afford to set aside $9090 per month for savings. her bank will pay her 4 %4% per year, compounded monthly, on her savings account. what will be michelle's balance in five years?

Answers: 3

continue

Business, 22.06.2019 21:00, atkinsonsinbraz

At present, the united states has an embargo against north korea because a. the two countries have extremely poor political relations. b. north korea will not adopt a capitalist government. c. north korean products are too difficult to use. d. north korea has an embargo on american products. e. products from north korea are in higher demand than american-made products.

Answers: 2

continue

Business, 23.06.2019 02:30, HTKPenguin

Zendor company wants to have $200,000 available in august 2021 to make an equipment purchase. to be able to have this amount available, zendor will make equal annual deposits in an investment account earning 12% annually in june 2017, 2018, 2019, 2020, and 2021. what is the dollar amount that must be deposited each of those years to achieve this objective?

Answers: 3

continue

Do you know the correct answer?

On January 1, 2018, Madison Products issued $40.6 million of 6%, 10-year convertible bonds at a net...