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Nataly [62]
3 years ago
14

Petrenko Corporation has outstanding 2,000 $1,000 bonds, each convertible into 50 shares of $10 par value common stock. The bond

s are converted on December 31, 2017, when the unamortized discount is $30,000 and the market price of the stock is $21 per share. Record the conversion using the book value approach.
Business
1 answer:
cricket20 [7]3 years ago
4 0

Explanation:

The Journal entry is given below :-

Bonds payable                                      $2,000,000

      To common stock                          $1,000,000

      To Discount on common stock     $30,000

      To Paid in capital                            $970,000

The calculation of bonds payable, common stock is below:-

For bonds payable            

= 2,000 × $1,000

= $2,000,000

For common stock

= 2,000 × 50 × $10

= $1,000,000

For paid in capital

= $2,000,000 - ($1,000,000 - $30,000)

= $970,000

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Answer:

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At this stage of product development,the over-aching aim is to pick the products could be best invested that yield positive in a short while rather picking all available options that might drain the resources available and not yield commensurate returns.

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The Retained earnings account has a credit balance of $23,800 before closing entries are made. Of total revenues for the period
skelet666 [1.2K]

Answer:

The ending balance in the retained earnings account is $31400.

Explanation:

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3 years ago
1. Which of the following sequences of events most accurately portrays a real-life scenario? (1 point)
Lyrx [107]
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Output range with increment of 10 5.15.1: Output range with increment of 10 Write a program whose input is two integers, and who
kvasek [131]

Answer:

// Program is implemented using Coral Programming Language

int X

int Y

int Sum

Put "Enter any two numbers" to output

x = Get next input

Y = Get next input

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else

for Sum = X; Sum <= Y; Sum = Sum + 10

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Explanation:

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