Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On July 1,2025 , an interest payment date, $148000 of Wildhorse Co, bonds were converted into 2930 shares of Wildhorse Co. common stock, each having
On July 1,2025 , an interest payment date, $148000 of Wildhorse Co, bonds were converted into 2930 shares of Wildhorse Co. common stock, each having a par value of $45 and a market value of $52. There is $6900 of unamortized discount on the bonds. If the book value method is used, wildhorse would record no change in paid-in capital in excess of par. an $11260 increase in paid-in capital in excess of par. a $9250 increase in paid-in capltal in excess of par. a $4360 increase in paid-in capital in excess of par
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started