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On July 1, 2020, an interest payment date, $ 222000 (par value) of Vancouver Company bonds were converted into 10,000 of their no par common

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On July 1, 2020, an interest payment date, $ 222000 (par value) of Vancouver Company bonds were converted into 10,000 of their no par common shares. On this date, the unamortized discount on the bonds was $ 5516. The shares were trading at a market pric of $45 each. When the bonds were originally issued, the equity portion of the bond was valued at $ 6598. Using the book value method, calculate the amount that Vancouver Company would record as change to contributed surplus with this event. Use a + to indicate an increase and- to indicate a decrease. Do not use a comma in your answer and round to the nearest dollar. Answer: On July 1, 2020, an interest payment date, $ 222000 (par value) of Vancouver Company bonds were converted into 10,000 of their no par common shares. On this date, the unamortized discount on the bonds was $ 5516. The shares were trading at a market price of $45 each. When the bonds were originally issued, the equity portion of the bond was valued at $ 6598. Using the book value method, calculate the amount that Vancouver Company would record as change to contributed surplus with this event. Use a + to incheate an increase and - to indicate a decrease. Do not use a comma in your answer and round to the nearest dollar. Answer: -226918

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