ACC 423 Week 5 Final Exam 2 Chapter-16 | Assignment Help | University Of Phoenix
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- 11 Jan 2019
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ACC 423 Week 5 Final Exam 2 Chapter-16 | Assignment Help | University Of Phoenix
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Brief Exercise 16-2 |
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Oriole Corporation has outstanding |
1600 |
$1,000 |
bonds, each convertible into |
40 |
shares of |
$10 |
$10 par value common stock. |
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The bonds are converted on December 31, 2017, when the
unamortized discount is |
$27,800 |
and the market price of
the stock is |
$21 |
per share. |
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Record the conversion using the book value approach. |
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Brief Exercise 16-7 |
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On January 1, 2017, Larkspur Corporation granted |
2,000 |
shares of restricted |
$5.00 |
par value common stock to executives. |
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The market price (fair value) of the stock is |
$65 |
per share on the date of grant. The period of benefit is |
2 |
years. |
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Prepare Larkspur’s journal entries for January 1, 2017, and
December 31, 2017 and 2018. |
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USA 
India