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On September 1, 2021, right after an interest payment, $6,001,000 of Hirola's outstanding bonds were converted into 900,000 shares of Hirola's $2 par value common
On September 1, 2021, right after an interest payment, $6,001,000 of Hirola's outstanding bonds were converted into 900,000 shares of Hirola's $2 par value common stock. At the time of the conversion, the common stock had a market value of $3 and the bond had an unamortized discount of $150,000.
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The change in Hirolas additional paid in capital common stock account due to the conversion can be c...
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
