Assignment Financial Accounting II ACCT 2036 Due date: March 31, 2020 at 12:00 PM Question #4 (13 marks) For each of the unrelated situations described below, prepare the entries required to record the transactions. On August 1, 2017, Alpha Corporation called its 10% convertible bonds for conversion. The $4,000,000 par value bonds were converted into 160,000 no par common shares. On August 1, there was $350,000 of unamortized premium applicable to the bonds. At the time of issuance, Contributed Surplus Conversion Rights was credited for $150,000, which represented the equity portion of the convertible bonds, and the market value of the common shares was $20 per share. The company records the conversion Tsing the book value method. Ignore all interest payments. Assignment Financial Accounting II ACCT 2036 Due date: March 31, 2020 at 12:00 PM Question #4 (13 marks) For each of the unrelated situations described below, prepare the entries required to record the transactions. On August 1, 2017, Alpha Corporation called its 10% convertible bonds for conversion. The $4,000,000 par value bonds were converted into 160,000 no par common shares. On August 1, there was $350,000 of unamortized premium applicable to the bonds. At the time of issuance, Contributed Surplus Conversion Rights was credited for $150,000, which represented the equity portion of the convertible bonds, and the market value of the common shares was $20 per share. The company records the conversion Tsing the book value method. Ignore all interest payments