Fogel Co. has $4,000,000 of 8% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July 31, 2021, the holders of $1,280,000 bonds exercised the conversion privilege. On that date the market price of the bonds was 105 and the market price of the common stock was $36. The total unamortized bond premium at the date of conversion was $280,000. Fogel should record, as a result of this conversion, a

Milo Co. had 800,000 shares of common stock outstanding on January 1, issued 126,000 shares on May 1, purchased 63,000 shares of treasury stock on September 1, and issued 54,000 shares on November 1. The weighted average shares outstanding for the year is

Hobson Company bought the equity securities listed below during 20X7. In its December 31, 20X7, income statement Hobson reported a net unrealized holding loss of $13,000 on these securities. Pertinent data at the end of June, 20X8 is as follows: Security Cost Fair Value X $380,000 $352,000 Y $180,000 $160,000 Z $420,000 $414,000 What amount of unrealized holding loss on these securities should Hobson include in its income statement for the six months ended June 30, 20X8?

Beresford Inc. purchased several investments in debt securities during 20X7, its first year of operations. The following information pertains to these securities. The fluctuations in their fair values are not considered permanent. Held to Maturity Securities: Fair Value 12/31/20X7 Fair Value 12/31/20X8 Amortized Cost 12/31/20X7 Amortized Cost 12/31/20X8 ABC Co. Bonds $375,000 $400,000 $367,500 $360,000 Trading Securities: Fair Value 12/31/20X7 Fair Value 12/31/20X8 Amortized Cost 12/31/20X7 Amortized Cost 12/31/20X8 DEF Co. Bonds $48,000 $59,500 $66,000 $60,000 GEH Inc. Bonds $47,000 $77,000 $39,000 $38,000 IJK Inc. Bonds $44,000 $38,500 $32,900 $32,000 Available for Sale Securities: Fair Value 12/31/20X7 Fair Value 12/31/20X8 Amortized Cost 12/31/20X7 Amortized Cost 12/31/20X8 LMN Co. Bonds $130,500 $150,400 $140,000 $135,000 What would be the balance in Beresford’s accumulated other comprehensive income with respect to these investments in its 12/31/20X8 balance sheet?

On May 1, 2021, Payne Co. issued $1,500,000 of 7% bonds at 103, which are due on April 30, 2031. Twenty detachable stock warrants entitling the holder to purchase for $40 one share of Payne’s common stock, $15 par value, were attached to each $1,000 bond. The bonds without the warrants would sell at 96. On May 1, 2021, the fair value of Payne’s common stock was $35 per share and of the warrants was $2. On May 1, 2021, Payne should credit Paid-in Capital from Stock Warrants for

Most economic data are obtained:

Let Y be a random variable. Then var(Y) equals:

Wages have been regressed on marital status and age using the NLSW88 dataset using STATA. The researcher who conducted the analysis transcribed the STATA output table but forgot to copy (5) five values. Help the researcher recover these values using the summary statistics and the other regression output data that appear below:         Enter the value that should appear in place of missing (1). Round your answer to three decimal places. 

On July 1, 2021, an interest payment date, $150,000 of Parks Co. bonds were converted into 3,000 shares of Parks Co. common stock each having a par value of $45 and a market value of $54. There is $6,000 unamortized discount on the bonds. Using the book value method, Parks would record

Jeremiah Corporation purchased debt securities during 20X8 and classified them as securities available for sale: Security Cost Fair Value, 12/31/20X8 A $40,000 $49,000 B $70,000 $66,000 C $28,000 $39,000 All declines are considered to be temporary. How much gain will be reported by Jeremiah Corporation in the December 31, 20X8, income statement relative to the portfolio?