In: Accounting
two issues of securities outstanding: common stock and $5,500,000 face value, 5-year, 3% convertible bonds which were issued January 1, 2019 when the market rate was 4%. Bond interest payments dates are June 30 and December 31. Each Bond is convertible into 40 shares of $20 par value common stock . On July 1, 2019 the holders of $1,100,000 face value exercise the conversion privilege . On the date, the bonds were selling at 110 and the market price of the stock was $35. The company uses the effective interest method for amortization of the of the bond premium.
What is the amount to be "Paid -in-Capital for Common Stock" on July 1, 2019?
Morgan Corporation had twoissues of securities outstanding: common stock and an 8% convertible bond Interestpayment dates of the bondissue are June 30th andDecember 31st. On June 30, 2014, the holders of $1,800,000 face value bonds exercised theconversion privilege. Themarket price of the bonds onthat date was $1,100 per bondand the market price of thecommon stock In applying thebook value method, whatamount should Morgan credit to the account &paid-in capitalin
Each $1,000 bond is convertibleinto 30 shares of $30 par valuecommon stock. OnJuly 1, 2017, Tuttle Companyhad bonds payable outstandingwith a face value of $200,000 and a book
Each $1,000 bond is convertibleinto 30 shares of $30 par valuecommon stock.
On July 1, 2017, Tuttle Companyhad bonds payable outstandingwith a face value of $200,000 and a book
Each $1,000 bond is convertibleinto 30 shares of $30 par valuecommon stock.
Each $1,000 bond is convertibleinto 30 shares of $30 par valuecommon stock.
Fogel Co. has $3,000,000 of 8% convertible bonds outstandingEach $1,000 bond is convertibleinto 30
Interest is to be paidsemiannually on June 30 andDecember 31