When bonds are converted into common stock: the market price of the stock on the date of

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When bonds are converted into common stock:

		the market price of the stock on the date of conversion is credited to the Common Stock account.
		the market price of the bonds on the date of conversion is credited to the Common Stock account.
		the market price of the stock and the bonds is ignored when recording the conversion.
		gains or losses on the conversion are recognized.

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Intermediate Accounting

Intermediate Accounting

ISBN: 978-0324300987

10th Edition

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

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Posted Date: Aug 03, 2022 09:01 AM

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