Computalog Inc. showed the following on its December 31, 2023, balance sheet Bonds payable, convertible Less:...
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Computalog Inc. showed the following on its December 31, 2023, balance sheet Bonds payable, convertible Less: Unamortized discount $4,030,000 14,508 $4,015,492 Required: 1. Assuming the bonds are convertible into 403,000 common shares, journalize the conversion on January 1, 2024, when the market value per common share was $10.25 Computalog Inc. showed the following on its December 31, 2023, balance sheet Bonds payable, convertible Less: Unamortized discount $4,030,000 14,508 $4,015,492 Required: 1. Assuming the bonds are convertible into 403,000 common shares, journalize the conversion on January 1, 2024, when the market value per common share was $10.25
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To journalize the conversion of convertible bonds into common shares we need to account for the redu... View the full answer
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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