Question: Moving to another question will save this response. estion 6 Alpha Corporation is having financial difficulty and therefore has asked Bahrain National Bank to restructure

 Moving to another question will save this response. estion 6 Alpha

Moving to another question will save this response. estion 6 Alpha Corporation is having financial difficulty and therefore has asked Bahrain National Bank to restructure BD5,000,000 note outstanding. The current outstanding te 35 points has 3 years remaining and pays a current rate of interest of 10%. The present market rate for a loan of this nature is 12%. The note was issued at its face value Required: Prepare the journal entry that Alpha would make for the following independent cases A) Bahrain National Bank agrees to take ordinary shares issued by Alpha in exchange for the outstanding note. The shares are valued at 806,200,1900 and how pale of BD3,000,000 B) Bahrain National Bank agrees to modily the terms of the note, by extending the maturity date to 5 more years and reducing the interest rate to the air of the now note is BD3,588,900. For the toolbar, press ALT-E10 (PC) or ALTFNF10(Mac). B IVS Paragraph Arial 10pt A 2 T: 6. EE x x T SBEE ) - WOW

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!