On July 1, 2017, an Interest Payment Date, $180,000 (Par

question 57

Multiple Choice

On July 1, 2017, an interest payment date, $180,000 (par value) of Lusaka Corp.bonds were converted into 3,600 of their no par common shares.At this time, the unamortized discount on the bonds was $7,200.When the bonds were originally issued, the equity portion of the bond was valued at $1,700.Using the book value method, Lusaka would record

• A)an $174,500 increase in Common Shares.
• B)an $172,800 increase in Common Shares.
• C)an $171,100 increase in Common Shares.
• D)no change to Contributed Surplus.

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