Business, 17.03.2020 01:54 ondray3435

October 1st each year. The bonds were issued with a premium of $180,000. The premium is being amortized on a straight line basis. The bonds can be converted on any date after 4 years from their issue date, into 10 shares of Tapco’s $5 par value common stock for each $1,000 of bonds. On December 1, 2017: $1,200,000 of bonds were turned in for conversion. Accrued interest on the bonds being converted was also paid to the holders at the time of the conversion. The company’s stock was selling for $205.50 per share on the date of the conversion. On May1, 2018: $480,000 of bonds were turned in for conversion. Accrued interest on the bonds being converted was also paid to the holders at the time of the conversion. The company’s stock was selling for $285.125 per share on the date of the conversion. Note: Tapco Plastics Corporation has a year end of December 31st. Prepare all journal entries pertaining to these bonds for the "5" dates below: October 1, 2017 December 1, 2017 May 1, 2018 December 31, 2018 April 1, 2019

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October 1st each year. The bonds were issued with a premium of $180,000. The premium is being amorti...