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Category > Business & Finance Posted 02 Aug 2017 My Price 11.00

1) Manilow Company issued $600,000, 9%, 20-year

1) Manilow Company issued $600,000, 9%, 20-year bonds on January 1, 2006, at 103. Interest is payable semiannually on July 1 and January 1. Manilow uses straight-line amortization for bond premium or discount.
Instructions
Prepare the journal entries to record the following.
(a) The issuance of the bonds.
(b) The payment of interest and the premium amortization on July 1, 2006, assuming that interest was not accrued on June 30.
(c) The accrual of interest and the premium amortization on December 31, 2006.
(d) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.


2) Fields Corporation has 20,000 shares of $10 par value
common stock outstanding when it announces a 2-for-1
stock split. Before the split, the stock had a market price
of $120 per share. After the split, how many shares of
stock will be outstanding? What will be the approximate
market price per share?

Answers

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Status NEW Posted 02 Aug 2017 07:08 PM My Price 11.00

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