Ivanhoe Corporation issued convertible bonds at a premium of $10400. The $200000 bond issue was convertible...

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Ivanhoe Corporation issued convertible bonds at a premium of $10400. The $200000 bond issue was convertible into 4400 shares of common stock (par value $20). Two years later, all of the bonds were converted to shares of stock. At that time, the unamortized premium was $4100, the market value of the bonds was $220000, and the market value of the stock was $60 per share. What amount of paid-in capital in excess of par is recorded on the conversion of the bonds? Ivanhoe Corporation issued convertible bonds at a premium of $10400. The $200000 bond issue was convertible into 4400 shares of common stock (par value $20). Two years later, all of the bonds were converted to shares of stock. At that time, the unamortized premium was $4100, the market value of the bonds was $220000, and the market value of the stock was $60 per share. What amount of paid-in capital in excess of par is recorded on the conversion of the bonds?

Answer rating: 100% (QA)

To find the amount of paidin capital in excess of par recorded on the conversion of the bonds we nee... View the full answer