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Question
(a)what is a convertible bond?
(b)discuss the advantages of a convertible bond from the standpoint of the bondholders and of the issuing corporation.
Answer
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which of the following errors, each considered individually, would cause the trial balance to be out of balance? a.a payment of $148 to a creditor was posted as a debit to accounts payable and a debit of $148 to cash. b.cash of $530 received from a customer on account was posted as a debit of $350 to cash and as a credit of $350 to accounts payable. c.a payment of $59 for supplies was posted as a debit of $95 to supplies and a credit of $95 to cash. d.a transaction was not posted.
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selected transactions from the journal of giambi inc. during its first month of operations are presented here.DateAccount TitlesDebitCreditAug. 1Cash10,000 Common Stock 10,00010Cash1,700 Service Revenue 1,70012Equipment8,200 Cash 1,200 Notes Payable 7,00025Accounts Receivable2,500 Service Revenue 2,50031Cash600 Accounts Receivable 600instructions(a)post the transactions to t-accounts.(b)prepare a trial balance at august 31, 2014 .
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The Golden Petting Zoo operates a drive-through tourist attraction in Colorado. The company adjusts its accounts at the end of each month. The selected accounts appearing below reflect balances after adjusting entries were prepared on April 30. The adjusted trial balance shows the following:Prepaid Rent $ 15,000Fencing 42,000Accumulated Depreciation—Fencing 5,500Unearned Ticket Revenue 400Other data:1. Three months' rent had been prepaid on April 1.2. The fencing is being depreciated at $6,000 per year.3. The unearned ticket revenue represents tickets sold for future zoo visits. The tickets were sold at $4.00 each on April 1. During April, twenty of the tickets were used by customers.Instructions:(a) Calculate the following:1. Monthly rent expense.2. The age of the fencing in months.3. The number of tickets sold on April 1.(b) Prepare the adjusting entries that were made by the Golden Petting Zoo on April 30.
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