Home / Questions / Tvesting in it additional financing, would you recommend lending to or PRACTICE CASE AMM G...
Tvesting in it? additional financing, would you recommend lending to or PRACTICE CASE AMM G TADIHTG Bonds payable (LG 4,6) On January 1, 2011, the stockholders of Jason Company authorized issuance of 10-year, 12% convertible bonds with a face value of $800,000. Interest is payable June 30 and December 31. Jason uses the straight-line amortization method. semiannually Each $1,000 bond is convertible into 85 shares of $5 par value common stock at the option of the bondholder. Transactions involving the bonds during 2011 and 2012 were as follows: on 12 fust 19blon REQUIRED b oH 3vli otz al lediaro 2011 Jan 1 Issued all of the bonds at 105. Jun 30 Paid the semiannual interest and amortized the premium. Dec 31 Paid the semiannual interest and amortized the premium. 2012 Jan Holders of bonds with a face value of $700,000 converted their bonds into shares of common stock. 1 Jun. Paid the semiannual interest and amortized the premium on the remaining bonds. 30 Jul Hawk Company purchased the remaining bonds on the open market at 96 and retired the bonds. 1 repare journal entries to record the transactions involving bonds during 2011 and 2012. NICATION PROBLEM
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