Question
On January 1, 20X2, Illiad, Inc. issued $1,000,000, 6%, 5-year convertible bonds. The bonds were issued for $1,297,091 and each bond is convertible into 10
On January 1, 20X2, Illiad, Inc. issued $1,000,000, 6%, 5-year convertible bonds. The bonds were issued for $1,297,091 and each bond is convertible into 10 shares of $5.00 par value common stock. The bonds are converted on January 1, 20X4. The unamortized bond premium is $178,344 on that date. What is the Additional Paid-In Capital - Common Stock recorded upon conversion?
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Financial Accounting An International Introduction
Authors: David Alexander, Christopher Nobe
6th Edition
1292102993, 978-1292102993
