Business
Business, 18.12.2019 01:31, viktoria1198zz

Litke corporation issued at a premium of $10,000 a $200,000 bond issue convertible into 4,000 shares of common stock (par value $20). at the time of the conversion, the unamortized premium is $4,000, the market value of the bonds is $220,000, and the stock is quoted on the market at $60 per share. if the bonds are converted into common, what is the amount of paid-in capital in excess of par to be recorded on the conversion of the bonds?

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Litke corporation issued at a premium of $10,000 a $200,000 bond issue convertible into 4,000 shares...

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