Question
QS 10-10 Bond retirement by stock conversion LO P4 On January 1, 2017, the $2,500,000 par value bonds of Spitz Company with a carrying value
QS 10-10 Bond retirement by stock conversion LO P4
On January 1, 2017, the $2,500,000 par value bonds of Spitz Company with a carrying value of $2,500,000 are converted to 1,250,000 shares of $1.00 par value common stock. Record the entry for the conversion of the bonds.
Journal Entry
(Record the retirement of bonds by stock conversion.)
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College Accounting A Practical Approach Chapters 1-15
Authors: Jeffrey Slater
7th Edition
0130954888, 978-0130954886
