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A Bond Issue of $50,000 with a Carrying Value of $49,000

Question 145

Multiple Choice

A bond issue of $50,000 with a carrying value of $49,000 is converted into $10 par value common stock at the rate of fifty shares for each $1,000 bond.The entry to be recorded on the conversion of bonds is:


A)
A bond issue of $50,000 with a carrying value of $49,000 is converted into $10 par value common stock at the rate of fifty shares for each $1,000 bond.The entry to be recorded on the conversion of bonds is: A) B) C) D)
B)
A bond issue of $50,000 with a carrying value of $49,000 is converted into $10 par value common stock at the rate of fifty shares for each $1,000 bond.The entry to be recorded on the conversion of bonds is: A) B) C) D)
C)
A bond issue of $50,000 with a carrying value of $49,000 is converted into $10 par value common stock at the rate of fifty shares for each $1,000 bond.The entry to be recorded on the conversion of bonds is: A) B) C) D)
D)
A bond issue of $50,000 with a carrying value of $49,000 is converted into $10 par value common stock at the rate of fifty shares for each $1,000 bond.The entry to be recorded on the conversion of bonds is: A) B) C) D)

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