The journal entry to record issuance of the bonds assuming warrants as non-detachable.

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Answer 1

Question

Chapter 14, Problem 14.12P

a.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as non-detachable.

b.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using proportionate method.

c.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using the incremental method

d.

To determine

To prepare: Journal using proportionate method for recording exercise of all warrants.

e.

To determine

To prepare: Journal using incremental method for recording exercise of all warrants.

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The Galaxy Company has the following balances: • Cash: $35,000 . Supplies: $12,000 . Accounts Receivable: $25,000 . Equipment: $80,000 . Notes Payable: $45,000 • Accounts Payable: $20,000 Calculate the owner's equity for Galaxy Company. a. $52,000 b. $87,000 c. $107,000 d. $127,000

Answer 2

Question

Chapter 14, Problem 14.12P

a.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as non-detachable.

b.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using proportionate method.

c.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using the incremental method

d.

To determine

To prepare: Journal using proportionate method for recording exercise of all warrants.

e.

To determine

To prepare: Journal using incremental method for recording exercise of all warrants.

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Answer 3

Question

Chapter 14, Problem 14.12P

a.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as non-detachable.

b.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using proportionate method.

c.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using the incremental method

d.

To determine

To prepare: Journal using proportionate method for recording exercise of all warrants.

e.

To determine

To prepare: Journal using incremental method for recording exercise of all warrants.

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Answer 4

Question

Chapter 14, Problem 14.12P

a.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as non-detachable.

b.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using proportionate method.

c.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using the incremental method

d.

To determine

To prepare: Journal using proportionate method for recording exercise of all warrants.

e.

To determine

To prepare: Journal using incremental method for recording exercise of all warrants.

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Answer 5

Chapter 14, Problem 14.12P

a.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as non-detachable.

b.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using proportionate method.

c.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using the incremental method

d.

To determine

To prepare: Journal using proportionate method for recording exercise of all warrants.

e.

To determine

To prepare: Journal using incremental method for recording exercise of all warrants.

Answer 6

Chapter 14, Problem 14.12P

a.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as non-detachable.

Answer 7

Chapter 14, Problem 14.12P

a.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as non-detachable.

Answer 8

b.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using proportionate method.

Answer 9

b.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using proportionate method.

Answer 10

c.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using the incremental method

Answer 11

c.

To determine

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using the incremental method

Answer 12

d.

To determine

To prepare: Journal using proportionate method for recording exercise of all warrants.

Answer 13

d.

To determine

To prepare: Journal using proportionate method for recording exercise of all warrants.

Answer 14

e.

To determine

To prepare: Journal using incremental method for recording exercise of all warrants.

Answer 15

e.

To determine

To prepare: Journal using incremental method for recording exercise of all warrants.

Answer 16

Expert Solution & Answer

Answer 17

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Answer 18

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Answer 19

Ch. 14 - What conditions or terms does a note payable...Ch. 14 - If the market rate of interest exceeds the face or...Ch. 14 - What is included in bond issue costs and how...Ch. 14 - Prob. 14.4Q Ch. 14 - When a bond is issued at a discount, will its...Ch. 14 - Prob. 14.6Q Ch. 14 - Prob. 14.7Q Ch. 14 - Under IFRS, how do firms account for convertible...Ch. 14 - Prob. 14.9Q Ch. 14 - Can companies reclassify short-term debt expected...

The journal entry to record issuance of the bonds assuming warrants as non-detachable.

Solution Summary: The author explains the process of journalizing the transactions of an organization in a chronological order.

Concept explainers

To prepare: The journal entry to record issuance of the bonds assuming warrants as non-detachable.

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using proportionate method.

To prepare: The journal entry to record issuance of the bonds assuming warrants as detachable using the incremental method

To prepare: Journal using proportionate method for recording exercise of all warrants.

To prepare: Journal using incremental method for recording exercise of all warrants.

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Chapter 14 Solutions