Assume that the same $1,000,000 bond from Empresas Buenapaga is convertible to 50,000 common stock value per
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Question:
Assume that the same $1,000,000 bond from Empresas Buenapaga is convertible to 50,000 common stock value per $10. When the premium has an outstanding unretretized balance sheet of $75,000 bondholders decide to exercise the option to convert the bonds.
Required:
Make the journal entry to record the conversion of the bond into common shares.
Related Book For
Fundamentals of Financial Management
ISBN: 978-1305635937
Concise 9th Edition
Authors: Eugene F. Brigham
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