Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ivanhoe Company issued $12.000.000 par ex bonds at One deachable stock purchase wat was with each $100 parvatubond. At the time of dance, the warrants

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Ivanhoe Company issued $12.000.000 par ex bonds at One deachable stock purchase wat was with each $100 parvatubond. At the time of dance, the warrants were selling for $2 Gede accounts are automatically indented when amount is entered. Do not indet manuality s e ctory for the courts and enter the amounts Account Titles and Explanation Debit Suppose Google Inc. called its convertible debitin 2017. Assume the following related to the traction. The $3.700.000 par value bonds were converted into 462.500 shares of $1 par value common stock on July 1, 2017. On July 1, there was $25.00 ounamortized discount applicable to the bonds, and the company paid an additions $28.000 to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method. (Credit account sites are automatically indented when amount is entered Donorindent manually. ne entry is required, select "Norry for the accounts and entero for the amounts Debit Credit Account Tities and Explanation Ivanhoe Company issued $12,000,000 par value 5% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for $2. (Credit account titles are automatically indented when amount is entered. Do not inde manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit X Your answer is incorrect. Shamrock Corp, issued $12,000,000 par value 10% convertible bonds at 98. If the bonds had not been convertible, the company's investmer banker estimates they would have been sold at 96. (Credit account titles are automatically indented when amount is entered. Do not indent manua no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Suppose Google, Inc. called its convertible debt in 2017. Assume the following related to the transaction. The 8%, $3,700,000 par value bonds were converted into 462,500 shares of $1 par value common stock on July 1, 2017. On July 1, there was $25,000 of unamortized discount applicable to the bonds, and the company paid an additional $28,000 to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting Planning And Control

Authors: Adolph Matz, Milton F. Usry

10th Edition

0538809256, 978-0538809252

More Books

Students also viewed these Accounting questions