On January 1, 2018, Madison Company issued $100,000 of 6%, 5-year convertible bonds at a net price of $105,000. Madison recently issued similar, but nonconvertible, bonds at 101. The bonds pay interest on June 30 and December 31. The company uses IFRS and the straight-line method for amortization. On January 1, 2019, all bonds were converted to Madison's no par common stock. What amount of convertible bonds payable should the company remove at the date of conversion

Post test question number 9 for entering the job market

He moto hotel opened for business on may 1, 2017. here is its trial balance before adjustment on may 31. moto hotel trial balance may 31, 2017 debit credit cash $ 2,283 supplies 2,600 prepaid insurance 1,800 land 14,783 buildings 72,400 equipment 16,800 accounts payable $ 4,483 unearned rent revenue 3,300 mortgage payable 38,400 common stock 59,783 rent revenue 9,000 salaries and wages expense 3,000 utilities expense 800 advertising expense 500 $114,966 $114,966 other data: 1. insurance expires at the rate of $360 per month. 2. a count of supplies shows $1,050 of unused supplies on may 31. 3. (a) annual depreciation is $2,760 on the building. (b) annual depreciation is $2,160 on equipment. 4. the mortgage interest rate is 5%. (the mortgage was taken out on may 1.) 5. unearned rent of $2,580 has been earned. 6. salaries of $810 are accrued and unpaid at may 31

As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm. b. implicit costs. c. operating costs. d. fixed costs.