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Business, 22.04.2020 21:24 skywil8981

Waterway Industries issued at a premium of $10100 a $192000 bond issue convertible into 3600 shares of common stock (par value $20). At the time of the conversion, the unamortized premium is $4300, the market value of the bonds is $212000, 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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Waterway Industries issued at a premium of $10100 a $192000 bond issue convertible into 3600 shares...

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