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Question - Clay Company had P600.000 convertible 8% bonds payable outstanding on June 30, 2011. Each P1,000 bond was convertible into 10 ordinary shares of P50 par value. On July 1, 2011, the interest was paid to bondholders, and the bonds were converted into ordinary shares, which had a fair value of P75 per share. The unamortized premium on these bonds was P12,000 at the date of conversion. No equity component was recognized when the bonds were originally issued. What is the increase in the share capital and share premium, respectively, as a result of the bond conversion?
a. 300,000 and 312,000
b. 306,000 and 306,000
c. 450,000 and 162,000
d. 600,000 and 12,000
Great Holidays Ltd., has the following account balances prior to creating its Balance Sheet for its fiscal year end on June 30, 2020: Calculate value of equity
Refer to Polaris' financial statements in Appendix A for the following questions.
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diego company manufactures one product that is sold for 80 per unit in two geographic regions-the east and west
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