Question
A company issued $700,000 of 9%, ten-year convertible bonds on January 1, 2020, at 97, with interest payable July 1 and January 1. Bond discount/premium
A company issued $700,000 of 9%, ten-year convertible bonds on January 1, 2020, at 97, with interest payable July 1 and January 1. Bond discount/premium is amortized semiannually on a straight-line basis. On July 1, 2023, these bonds were converted into common stock.
What should be the amount of the unamortized bond discount/premium on July 1, 2023, relating to the bonds converted?
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Company Issued 9 700000 10 Year Convertible bonds on January 1 2020 Face Value 100 Issue...
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
3rd edition
1119372933, 978-1119372936
