1 answer

26. Falco Inc. issued a $20,000,000 bond with a 6% coupon paid semiannually 3 years ago....

Question:

26. Falco Inc. issued a $20,000,000 bond with a 6% coupon paid semiannually 3 years ago. The bond was originally for 20 years
26. Falco Inc. issued a $20,000,000 bond with a 6% coupon paid semiannually 3 years ago. The bond was originally for 20 years. In order to clean up their balance sheet to prepare a public offering of stock, Falco Inc. decides to buy back their outstanding bonds of this issue in the market place. The current carrying value of the bonds is 22,750,000 and they repurchased the bonds for 24,100,000

Answers

Account Titles Debit Credit
Bonds Payable $   20,000,000.00
Premium on bonds $     2,750,000.00
Loss on Extinguishment $     1,350,000.00
                  Cash $ 24,100,000.00
To record bond redemption at a loss.
.

Similar Solved Questions

1 answer
In some reactions, n‑butyllithium can form side products, preventing the desired product from forming. Draw one...
In some reactions, n‑butyllithium can form side products, preventing the desired product from forming. Draw one starting material that reacts with n-BuLi to form the two side products shown. In addition, draw the curved arrows to explain how each side product is formed. Be sure to include all ...
1 answer
54-12 (similar to) Question Help The accounting records for ALB, Inc., reflected the following amounts at...
54-12 (similar to) Question Help The accounting records for ALB, Inc., reflected the following amounts at the end of July 2018 (Click the icon to view the accounts.) Prepare the classified balance sheet for ALB, Inc., at July 31, 2018. Use the report format. Begin by preparing the heading and comple...
1 answer
1. The following table lists data from a volunteer weighing 55 kg administered a 300mg dose (IV bolus). Samples were dra...
1. The following table lists data from a volunteer weighing 55 kg administered a 300mg dose (IV bolus). Samples were drawn at the times indicated and plasma concentration of drug was measured. time(hrs) Cp (mg/L) 1 12.95 2 10.3 3 7.96 4 6.43 6 4.2 10 1.75 12 1.2 Calculate Kel f...
1 answer
Find the present values of the following cash flow streams. The appropriate interest rate is 13%....
Find the present values of the following cash flow streams. The appropriate interest rate is 13%. Round your answers to the nearest cent. (Hint: It is fairly easy to work this problem dealing with the individual cash flows. However, if you have a financial calculator, read the section of the manual ...
1 answer
?2. Three point charges are arranged in a square as in the diagram below .Find an...
?2. Three point charges are arranged in a square as in the diagram below .Find an expression for the electric potential at point A. Assume that V = 0 at infinity. How much work is required to create this assembly of charges? 2 2 2...
1 answer
For each of the following redox reactions (not balanced), define which component is being reduced and...
For each of the following redox reactions (not balanced), define which component is being reduced and which is being oxidized as the reaction progresses. *It may be quite beneficial to draw the element in question and its electrons in its reactant and product state. 1) C6H12O6 + O2 → CO2 + H2O ...
1 answer
Find the average value fave of the function f on the given interval. f(r) 14x-2, (0,...
Find the average value fave of the function f on the given interval. f(r) 14x-2, (0, 5) fave...
1 answer
Using a graph representing the market for loanable funds, show and explain what happens to interest...
Using a graph representing the market for loanable funds, show and explain what happens to interest rates and investment if a government goes from a deficit to a surplus....
1 answer
7:42 PM Wed Oct 10 Design and Analysis of Experiments, 9th Edition Generally, the engineering units...
7:42 PM Wed Oct 10 Design and Analysis of Experiments, 9th Edition Generally, the engineering units are not directly comparable, but they may have physical meaning as in the present example. This could lead to possible simpification based on the underlying almost all situations, the coded unit analy...
1 answer
Complete a reflective journal answering the following questions. (must be at least one full page). What...
Complete a reflective journal answering the following questions. (must be at least one full page). What specific questions did shoulld you ask your patient to uncover cultural practices? How will this impact your discharge teaching? How does your patient’s culture affect how you provide care? ...
1 answer
Photosynthetic phosphorylation in vascular plants and oxidative phosphorylation in vertebrates appear to be generally similar processes,...
Photosynthetic phosphorylation in vascular plants and oxidative phosphorylation in vertebrates appear to be generally similar processes, both consisting of ATP synthesis coupled to the transfer of electrons along an electron carrier chain. Which of the following is not true of both processes? Questi...
1 answer
Can anyone help me check mu answer and show the solution? Thanks! The two half cells...
Can anyone help me check mu answer and show the solution? Thanks! The two half cells that make up a battery are shown below with their reduction potentials: Ce4+ (aq) + e Ce 3+ (aq); E= 1.61 V S2082-(aq) + 2e – 25042-(aq); E= 2.01 V What is the equation for the galvanic cell made with these...
1 answer
Why is a representative bureaucracy the inherent goal of all affirmative action programs
why is a representative bureaucracy the inherent goal of all affirmative action programs...
1 answer
Part A) Specify the magnitude and phase angle of the line current IaA. Enter your answer...
Part A) Specify the magnitude and phase angle of the line current IaA. Enter your answer using polar notation. Express argument in degrees. Part B Specify the magnitude and phase angle of the line current IbB. Enter your answer using polar notation. Express argument in degrees. ...
1 answer
Entries for Sale of Fixed Asset Equipment acquired on January 8 at a cost of $147,100,...
Entries for Sale of Fixed Asset Equipment acquired on January 8 at a cost of $147,100, has an estimated useful life of 15 years, has an estimated residual value of $9,550, and is depreciated by the straight-line method. a. What was the book value of the equipment at December 31 the end of the fourth...
1 answer
Assignment 4 2018 Simple Functions and Looping Task or estimated I. The progam will ask the rr Th...
Assignment 4 2018 Simple Functions and Looping Task or estimated I. The progam will ask the rr The functionwl Assignment 4 2018 Simple Functions and Looping Here is one approach you couild take Upload We were unable to transcribe this image5. Sample results: starting with 100 Streptococcus lactis fo...
1 answer
Factory Overhead Cost Variance Report Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following...
Factory Overhead Cost Variance Report Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 8,400 hours. ...