ACC 304 Week 10 Chapter 16 Homework
d. contra current asset. ===============================================
ACC 304 Week 10 Chapter 16 Homework
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ACC 304 Week 10 Chapter 16 Homework
1) Archer Inc. issued $ 4,461,300 par value, 7 % convertible bonds at 99 for cash. If the bonds had not included the conversion feature, they would have sold for 95.
Prepare the journal entry to record the issuance of the bonds.( Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select " No Entry " for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit Credit
2) On January 1, 2014, Barwood Corporation granted 5,360 options to executives. Each option entitles the holder to purchase one share of Barwood’ s $ 5 par value common stock at $ 50 per share at any time during the next 5 years. The market