Carla SA has outstanding 2,000 €1,000 bonds, each convertible into 70 shares of €10 par value ordinary shares. The bonds are converted on December 31, 2022. The bonds payable have a carrying value of €1,950,000, and there is conversion equity of €22,000. Record the conversion using the book value method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit JOO
Carla SA has outstanding 2,000 €1,000 bonds, each convertible into 70 shares of €10 par value ordinary shares. The bonds are converted on December 31, 2022. The bonds payable have a carrying value of €1,950,000, and there is conversion equity of €22,000. Record the conversion using the book value method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit JOO
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
answer in text form please (without image), Note: .Every entry should have narration please
![Carla SA has outstanding 2,000 €1,000 bonds, each convertible into 70 shares of €10 par value ordinary shares. The bonds are
converted on December 31, 2022. The bonds payable have a carrying value of €1,950,000, and there is conversion equity of
€22,000.
Record the conversion using the book value method. (Credit account titles are automatically indented when amount is entered. Do not
indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdd49fd8f-ab38-4a09-a754-31a8a54e3e0f%2F28f1cd38-7f34-42ce-8f58-caf7f51c6a56%2Finv5889_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Carla SA has outstanding 2,000 €1,000 bonds, each convertible into 70 shares of €10 par value ordinary shares. The bonds are
converted on December 31, 2022. The bonds payable have a carrying value of €1,950,000, and there is conversion equity of
€22,000.
Record the conversion using the book value method. (Credit account titles are automatically indented when amount is entered. Do not
indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
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