Question
On June 30,2024 , Blair Industries had outstanding $86 million of 6% convertible bonds that mature on June 30,2025 . Interest is payable each year
On June 30,2024 , Blair Industries had outstanding
$86 million of
6% convertible bonds that mature on June 30,2025 . Interest is payable each year on June 30 and December 31. The bonds are convertible into 7 million shares of
$10 par common stock. On June 30, 2024, the unamortized balance in the discount on bonds payable account was
$4 million. On June 30,2024 , half the bonds were converted when Blalr's common stock had a market price of
$33 per share. When recording the conversion, Blair should credit paid-In capital-excess of par:
On June 30,2024 , Blair Industries had outstanding $86 million of 6% convertible bonds that mature on June 30,2025 . Interest is payable each year on June 30 and December 31. The bonds are convertible into 7 million shares of $10 par common stock. On June 30,2024 , the unamortized balance in the discount on bonds payable account was $4 million. On June 30,2024 , half the bonds were converted when Blalr's common stock had a market price of $33 per share. When recording the conversion, Blair should credit paid-in capital-excess of par
On June 30,2024 , Blair Industries had outstanding
$86million of
6%convertible bonds that mature on June 30,2025 . Interest is payable each year on June 30 and December 31. The bonds are convertible into 7 million shares of
$10par common stock. On June 30, 2024, the unamortized balance in the discount on bonds payable account was
$4million. On June 30,2024 , half the bonds were converted when Blalr's common stock had a market price of
$33per share. When recording the conversion, Blair should credit paid-In capital-excess of par:
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Statistical Audit Automation Applying Computer Assisted Audit Techniques
Authors: Edward J. Winslow
1st Edition
1973281015, 978-1973281016
