Business, 21.12.2020 14:20 milkshakegrande101

Colson Inc. converts $600,000 of bonds sold at face value into 10,000 shares of common stock, par value $1. Both the bonds and the stock have a market value of $760,000. What amount should be credited to Paid-in Capital in Excess of Par as a result of the conversion? a. $10,000. b. $160,000. c. $600,000. d. $590,000

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Colson Inc. converts $600,000 of bonds sold at face value into 10,000 shares of common stock, par va...