On December 31, Lowland, Inc., converts its $900,000 par value bonds (carrying value also $900,000) into 90,000 shares of $6 par value common stock. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet 1 > On December 31, Lowland, Inc., converts its $900,000 par value bonds (carrying value also $900,000) into 90,000 shares of $6 par value common stock. Note: Enter debits before credits.
On December 31, Lowland, Inc., converts its $900,000 par value bonds (carrying value also $900,000) into 90,000 shares of $6 par value common stock. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet 1 > On December 31, Lowland, Inc., converts its $900,000 par value bonds (carrying value also $900,000) into 90,000 shares of $6 par value common stock. Note: Enter debits before credits.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Required information
1
On December 31, Lowland, Inc., converts its $900,000 par value bonds
(carrying value also $900,000) into 90,000 shares of $6 par value common
stock.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Dec. 31
Record entry
Clear entry
View general journal
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Transcribed Image Text:Required infomation
On December 31, Lowland, Inc., converts its $900,000 par value bonds (carrying value also $900,000) into 90,000 shares of $6 par
value common stock.
Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in
the debit or credit columns.
View transaction list
Journal entry worksheet
1
>
On December 31, Lowland, Inc., converts its $900,000 par value bonds
(carrying value also $900,000) into 90,000 shares of $6 par value common
stock.
Note: Enter debits before credits.
< Prev
16
of 18
Next >
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