On November 1, 2020, Careful issued a 3-year, 7% P1,000,000 convertible bond at 105. The bonds were selling at P923,865, without the conversion feature, that yields a 10% interest. Transaction costs incurred in relation to the bond issuance amounted to P90,694, immediately after the BIC the bond yield was 14%. The interest on the bonds were payable semi-annually every April 30 and October 31. Each P500 peso bond is convertible into 3 ordinary shares. On October 31, 2022, there were bondholders who exercised their option, the bonds were converted into 3,000 ordinary shares. The ordinary shares have a par value of P50 and a market value of P70 at conversion date. How much is the credit to share premium during conversion date? 30) How much is the amortization for 2022?

Answer rating: 100% (QA)

Answers a How much is the credit to share premium during conversion date The credit to Share Premium OS amounts to P42677413 b How much is the amortiz... View the full answer