If sixty $1,000 convertible bonds with a carrying value of $70,000 are converted into 9,000 shares of $5 par value common stock, the journal entry to record the conversion is

account titles and explanation debit credit

bonds payable (60 x $1000) 60,000
premium on bonds payable (70,000 - 60,000) 10,000
common stock (9000 shares x 5) 45,000
paid-in capital in excess of par (7 - 45000) 25,000

explain where does that bonds payable (60x 1000) comes from?

In a high school with 3000 students, counselors are putting together a math tutoring program for the neighboring middle school. they plan to invite high school students with high average test scores to tutor middle school students, and they would like to offer gift cards to the student tutors. the counselors have a spreadsheet showing each student’s average test scores, and in order to find out how many gift cards they should purchase, the counselors need to count how many students would qualify to become tutors. which type of function would best the counselors determine the number of eligible students?