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Can you help with this? Tim Howard Gloves issued 7.00% bonds with a face amount of $33 million, together with 22 million shares of its
Can you help with this?
Tim Howard Gloves issued 7.00% bonds with a face amount of $33 million, together with 22 million shares of its $1 par common stock, for a combined cash amount of $62 million. The fair value of Howard's stock cannot be determined. The bonds would have sold for $2? million it issued separately. For this transaction, Howard Should record paidin capitalexcess of par in the amount ofStep by Step Solution
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