For each of the unrelated transactions described below, present the entries required to record each transaction. 1. 2. 3. Swifty Corp. issued $21,000,000 par value 9% convertible bonds at 99. If the bonds had not been convertible, the company's investment banker estimates they would have been sold at 95. Nash Company issued $21,000,000 par value 9% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for $4. Suppose Sepracor, Inc. called its convertible debt in 2025. Assume the following related to the transaction. The 10%, $9,800,000 par value bonds were converted into 980,000 shares of $1 par value common stock on July 1, 2025. On July 1, ther $53,000 of unamortized discount applicable to the bonds, and the company paid an additional $71,000 to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method.

For each of the unrelated transactions described below, present the entries required to record each transaction. 1. 2. 3. Swifty Corp. issued $21,000,000 par value 9% convertible bonds at 99. If the bonds had not been convertible, the company's investment banker estimates they would have been sold at 95. Nash Company issued $21,000,000 par value 9% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for $4. Suppose Sepracor, Inc. called its convertible debt in 2025. Assume the following related to the transaction. The 10%, $9,800,000 par value bonds were converted into 980,000 shares of $1 par value common stock on July 1, 2025. On July 1, ther $53,000 of unamortized discount applicable to the bonds, and the company paid an additional $71,000 to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 1SEA: CHECKING ACCOUNT TERMS Match the following words with their definitions:

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CHECKING ACCOUNT TERMS Match the following words with their definitions: