Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, $300,000 of par value bonds with a c

On January 1, $300,000 of par value bonds with a carrying value of $310,000 is...

90.2K

Verified Solution

Question

Accounting

On January 1, $300,000 of par value bonds with a carrying value of $310,000 is converted to 50,000 shares of $5 par value common stock. The entry to record the conversion of the bonds includes all of the following entries except:

Multiple Choice

  • Debit to Bonds Payable $310,000.

  • Debit to Premium on Bonds Payable $10,000.

  • Credit to Paid-In Capital in Excess of Par Value, Common Stock $60,000.

  • Credit to Common Stock $250,000.

  • Debit to Bonds Payable $300,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

You are studying myosin V, a class of myosin which can be used in cells to...

Chemistry
1.2K views

In organic chemistry lab we just completled a \"Lidocaine Synthesis\". I have some questions to clarify...

Geometry
1.2K views

Draw the reference triangle Annotate all sides of the triangle Label the reference angle in...

Geometry
1.2K views

Find the first five term of the sequence where 3 S 5 Classify the sequence...

Algebra
1.2K views

An auditorium has 20 rows The first row has 11 sets the second row has...

Accounting
1.2K views

Grawburg Inc. maintains a call center to take orders, answer questions, and handle complaints. The...

Accounting
1.2K views

The adjusted trial balance for Carla Vista Paints Ltd. at December 31,2024, is presented below....

Accounting
1.2K views

3 journal entry worksheets E8-14 Recording the Disposal of an...

Accounting
1.2K views

You own a home and are thinking of doing some home repairs. This year there...

Accounting
1.2K views

A machine cost $880,000 on May 1, 2018. Its estimated salvage value is $80,000 and...

Accounting
1.2K views

Suppose that San Francisco was Melissa' s permanent residence and business location .She attended the...

Accounting
1.2K views

14. Determine the initial markup percent which will be required to achieve a 5.2% profit....