Windsor Corporation issued 1.800 shares of $10 par value ordinary shares upon conversion of 900 shares of $50 par value preference shares. The preference shares were originally issued at $65 per share. The ordinary shares are trading at $27 per share at the time of conversion. Record the conversion of the convertible preference shares. (Credit account titles are automatically indented when amount itertevel. De not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts Account Titles and Explanation Debit Credit

Windsor Corporation issued 1.800 shares of $10 par value ordinary shares upon conversion of 900 shares of $50 par value preference shares. The preference shares were originally issued at $65 per share. The ordinary shares are trading at $27 per share at the time of conversion. Record the conversion of the convertible preference shares. (Credit account titles are automatically indented when amount itertevel. De not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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