Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. trilium gold inc.s december 31,2023, adjusted tria

Trilium Gold Inc.s December 31,2023, adjusted trial balance shows the following: ...

90.2K

Verified Solution

Question

Accounting

Trilium Gold Inc.s December 31,2023, adjusted trial balance shows the following:
Account Description Balance*
Bonds payable, convertible $ 1,240,000
Premium on bonds payable 16,533
*Assume normal balances.
Required:
1. What is the carrying value of the bonds on December 31,2023?(Round the final answer to the nearest whole dollar.)
2. The bonds were converted into 124,000 common shares on January 1,2024. Journalize the entry assuming the market value per common share on this date was $9.10.(Round the final answers to the nearest whole dollar.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Solve the equation 4 4 1 n

Algebra
Q

Your company has spent $180,000 on research to develop a new computer game. The firm is...

Finance
Q

Tom buys and sell in the securities market. Now he has a portfolio including: $10500 of...

Finance
Q

1.  The gestation period (length of pregnancy) for male babies born in New York is normally distributed...

Basic Math
Q

Examine the cognitive and personality changes that lead some people to refer to middle age as...

Psychology
Q

Consider a steam power plant operating on the simple ideal Rankine cycle. Steam enters the turbine...

Mechanical Engineering
Q

any instant is x then differential equation of S H M of the block can...

Physics
Q

On a given planet the weight of an object varies directly with the mass of...

Basic Math
Q

For each transformed function g x find the following a g x 2 3 x...

Calculus
Q

1 An employee cheating on his expense report may be detected by: Performing a bank...

Accounting
Q

Suppose that at the beginning of 2021 Jamaal's basis in his S corporation stock is...

Accounting
Q

Required information Use the following information for the Exercises below. The following information applies to...

Accounting