Tallent, Inc. has outstanding convertible bonds with $20 million face value, $19.5 million book value, and $21 million market value. All the bonds are converted into 160,000 shares of Tallent's $1.50 par value common stock. The entry to record the conversion will include a credit to Paid-in Capital - Common Stock of
Tallent, Inc. has outstanding convertible bonds with $20 million face value, $19.5 million book value, and $21 million market value. All the bonds are converted into 160,000 shares of Tallent's $1.50 par value common stock. The entry to record the conversion will include a credit to Paid-in Capital - Common Stock of
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![Tallent, Inc. has outstanding convertible bonds with $20 million face value, $19.5 million book
value, and $21 million market value.
All the bonds are converted into 160,000 shares of Tallent's $1.50 par value common stock. The
entry to record the conversion will include a credit to Paid-in Capital - Common Stock of
$19,740,000
$20,760,000
$19,340,000
$19,760,000
$19,260,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F927ce6e0-a1c9-42d1-bce4-93f1d9a436b6%2Fb0e9ca20-f224-431d-b052-c1fcc9f04cef%2F5ys8ua_processed.png&w=3840&q=75)
Transcribed Image Text:Tallent, Inc. has outstanding convertible bonds with $20 million face value, $19.5 million book
value, and $21 million market value.
All the bonds are converted into 160,000 shares of Tallent's $1.50 par value common stock. The
entry to record the conversion will include a credit to Paid-in Capital - Common Stock of
$19,740,000
$20,760,000
$19,340,000
$19,760,000
$19,260,000
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