Business, 01.12.2021 01:00 koolja3

Tim Howard Gloves issued 6.00% bonds with a face amount of $40 million, together with 14 million shares of its $1 par common stock, for a combined cash amount of $76 million. The fair value of Howard's stock cannot be determined. The bonds would have sold for $34 million if issued separately. For this transaction, Howard should record paid-in capital—excess of par in the amount of:

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Tim Howard Gloves issued 6.00% bonds with a face amount of $40 million, together with 14 million sha...