500 shares of 6%, $100 par convertible preferred stock were issued at $103 per share. each share is convertible into 20 shares of $5 par common stock. the journal entry to record conversion includes which of the following? a) cr. paid in capital in excess of par, common $1,500.b) dr. retained earnings $1,500.c) dr. preferred stock $51,500.d) cr. common stock $51,500

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of

Suppose jamal purchases a pair of running shoes online for $60. if his state has a sales tax on clothing of 6 percent, how much is he required to pay in state sales tax?

How much are you willing to pay for a zero that matures in 10 years, has a face value of $1,000 and your required rate of return is 7%? round to the nearest cent. do not include a dollar sign in your answer. (i.e. if your answer is $432.51, then type 432.51 without $ sign)