A Company Issues Convertible Bonds with Face Value of $7,000,000

question 76

Essay

A company issues convertible bonds with face value of $7,000,000 and receives proceeds of $8,500,000.Each $1,000 bond can be converted,at the option of the holder,into 100 common shares.The underwriter estimated the market value of the bonds alone,excluding the conversion rights,to be approximately $7,300,000.
Requirement:
Record the journal entry for the issuance of these bonds based on IFRS.

Comprehend the concept of status characteristics and their impact on group dynamics.

Recognize the role of power in compliance and obedience.

Analyze the effects of power dynamics on group leadership and decision-making.

Understand the relationship between power, status, and bullying behaviors.

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Definitions:

Cellular Slime Mold

Amoeba-like protist that feeds as a single predatory cell; joins with others to form a multicellular spore-bearing structure under unfavorable conditions.

Amoebozoans

A group of amoeba-like organisms, which move and feed by means of pseudopodia and are classified within the domain Eukarya.

Porphyra

A genus of red algae that grows in cold seawater and is commonly used as nori in sushi preparation.