Managerial Accounting Decision Making Problems Homework Help
Best UK USA UAE Australia Canada China Managerial Accounting Decision Making Problems Homework Help Service Online
1.On March 31, 2009, Hanson Corporation sold $7,000,000 of its 8%, 10-year bonds for $6,730,500 including accrued interest. The bonds were dated January 1, 2009. Interest is paid semiannually on January 1 and July 1. On April 1, 2013, Hanson purchased 1/2 of the bonds on the open market at 99 plus accrued interest and canceled them. Hanson uses the straight-line method for amortization of bond premiums and discounts.
(a) What was the amount of the gain or loss on retirement of the bonds?
(b) Prepare the journal entry needed at April 1, 2013 to record retirement of the bonds. Assume that interest and premium or discount amortization have been recorded through January 1, 2013. Record interest and amortization on only the bonds retired.
(c) Prepare the journal entry needed at July 1, 2013 to record interest and premium or discount amortization.
2.On January 1 of the current year, Feller Corporation issued $3,000,000 of 10% debenture bonds on a basis to yield 9%, receiving $3,134,580. Interest is payable annually on December 31 and the bonds mature in 6 years. The effective-interest method is used.
(a) What is the interest expense for the first year?
(b) What is the interest expense for the second year?
3.Basic and Diluted Earnings Per Share
Assume that the following data relate to Rosen, Inc. for the year 2013
Net income (30% tax rate) $3,000,000
Average common shares outstanding 2013 1,000,000 shares
10% cumulative convertible preferred stock:
Convertible into 80,000 shares of common $1,600,000
8% convertible bonds; convertible into 75,000
shares of common $2,500,000
Exercisable at the option price of $25 per share;
average market price in 2013, $30 84,000 shares
(a) basic earnings per share
(b) diluted earnings per share.
How it Works?
How it Works?
Step 1:- Want to buy solution for this. Please click on submit your assignment here and then fill all details and please mentioned product code at the end of the case. Product code is extremely important to locate your assignment. You can also mail us by keeping product code as mail subject to email@example.com
Step 2:- As soon as we received your details, we will inform you with through email about quotations of the given assignment. Requesting you to please mention your budget. Also ensure our email firstname.lastname@example.org should not go into your spam folder.
Step 3:- Once you agree with our price, click on pay now and pay the agreed amount and once we received the payment assignment will be delivered before agreed deadline.
Step 4:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.
Our Features for Assignment Help Services
Plagiarism Free Solution
The first and foremost things that we promise to our customer is plagiarism free solution i.e. a complete and unique solution as per customer’s university requirements.
Excellent Customer Care Services
You can feel our responsiveness once you use our service. Our team of excellent and dedicated customer service representatives are always ready to provide best customer care service 24X7 . Just drop a mail to email@example.com and you can receive response in just no time.
Multiple Stage Quality Assurance
We design a unique multiple stage quality assurance team to ensure plagiarism free, original, relevant and as per customer’s requirements. We not only give importance to accurate solutions or writing but also we give equal importance to references style too.
Privacy and Confidentiality
We believe in maintaining complete privacy and confidentiality of all our clients. None of the information furnished to us is shared with anyone else.
We receive requests from clients all over the World. Most of our customers are from USA, UK, Australia, Canada, UAE, Muscat, Oman, Qatar, UAE, New-Zealand, France Germany etc.
- Accounting Homework Help
- Accounting Assignment Help
- Computer Science Homework Help
- Management Homework Help
- Finance Assignment Help
- Online Essay Writing Help
- Strategic management case study help
- Case Study Assignment Help
- Dissertation Writing Help
- Trade finance case study help
- Project Management Assignment Help
- Mechanical Engineering Homework Help
- Online Quiz Help
- Maths homework Help
- Online Exam Help
- Economics Assignment Help
- Economics Homework Help
- English Homework Help
- Macroeconomics Homework Help
- Microeconomics Homework Help
- Statistics Assignment Help
- Australia Taxation Homework Help
- Supply chain management homework help
- Taxation homework help
- USA taxation assignment help
- Advanced accounting homework help online
- Auditing homework writing help
- Human resource management homework help
- Nursing homework help online
- Psychology homework help online
- Sociology homework help online
- Ratio analysis homework help online
- Strategic Management Homework Help Online
- Mba operations management homework help
- Human resource management homework help
- Operations management homework help
4. Available-for-Sale Equity Investments
On January 2, 2012, Norwin Company purchased 1,000 shares of Oslo Company common stock for $30,000. The stock has a par value of $10 and is part of the total stock outstanding of 20,000 shares of Oslo Company. Norwin Company intends the stock to be available for sale. Total stockholders’ equity of Oslo Company on January 2, 2012 was $600,000.
Instructions: Prepare necessary journal entries on the books of Norwin Company for the following transactions. If no entry is required, write “none” in the space provided. (Round all calculations to the nearest cent.)
(a) January 2, 2012: Norwin purchases the shares described above.
(b) December 31, 2012: Norwin receives a $.75 per share dividend from Oslo, and Oslo announces a net income for 2012 of $250,000.
(c) December 31, 2012: According to The Wall Street Journal, Oslo common is selling for $27 per share. Norwin’s management views this decline as being only temporary in nature. Oslo’s common is Norwin’s only available-for-sale security.
(d) February 15, 2013: Norwin sells 500 of the shares purchased on January 2, 2012 at $32 per share.
The information below relates to Milton Company’s trading securities in 2012 and 2013.
(a) Prepare the journal entries for the following transactions.
January 1, 2012 Purchased $300,000 par value of GLF Company bonds at 97 plus accrued interest. The bonds pay interest annually at 9% each December 31. Broker’s commission was $3,000.
September 1, 2012 Sold $150,000 par value of GLF Company bonds at 94 plus accrued interest. Broker’s commission, taxes, and fees were $1,500.
September 5, 2012 Purchased 5,000 shares of Hayes, Inc. common stock for $30 per share. The broker’s commission on the purchase amounted to $2,000.
December 31, 2012 Make the appropriate entry for the GLF Company bonds.
December 31, 2012 The market prices of the trading securities at December 31 were: Hayes, Inc. common stock, $31 per share; and GLF Company bonds, 99. Make the appropriate entry.
July 1, 2013 Milton sold 1/2 of the Hayes, Inc. common stock at $32 per share. Broker’s commissions, taxes, and fees were $1,000.
December 1, 2013 Milton purchased 600 shares of Ramirez, Inc. common stock at $45 per share. Broker’s commission was $500.
December 31, 2013 Make the appropriate entry for the GLF Company bonds.
December 31, 2013 The market prices of the trading securities at December 31 were: Hayes, Inc. common stock, $34 per share; GLF Company bonds, 98; and Ramirez, Inc. common stock, $47 per share. Make the appropriate entry.
Product Code: ACC139
Looking for Managerial Accounting Decision Making Problems Homework Help, please submit your details here with product code mentioned above.