Stevens Corporation issued 5% convertible bonds with a total face value of $3,000,000 for $3,000,000. If the

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Stevens Corporation issued 5% convertible bonds with a total face value of $3,000,000 for

$3,000,000. If the bonds had not had a conversion feature, they would have sold for $2,600,000.

Under IFRS, the entry to record the transaction would require a credit to:

(a) Bonds Payable for $3,000,000.

(b) Bonds Payable for $400,000.

(c) Share Premium—Conversion Equity for $400,000.

(d) Discount on Bonds Payable for $400,000.

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Financial And Managerial Accounting

ISBN: 9781118004234

1st Edition

Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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Question Posted: Feb 15, 2024 09:00 AM

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Stevens Corporation issued 5% convertible bonds with a total face value of $3,000,000 for $3,000,000. If the

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Financial And Managerial Accounting

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