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Excercise 16-3 - 6,000 Preferred Stock(400 X 20 X $50...

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EXERCISE 16-3 (10–15 minutes) Conversion recorded at book value of the bonds: Bonds Payable .............................................................. 400,000 Premium on Bonds Payable ........................................
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Unformatted text preview: 6,000 Preferred Stock (400 X 20 X $50). ........................ 400,000 Paid-in Capital in Excess of Par-Preferred Stock. ................................................ 6,000...
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