Use the Following Information for Questions 36-37

question 61

Multiple Choice

Use the following information for questions 36-37.
On January 2, 2020, Perseus Corp. issued 10-year convertible bonds at 105. During 2021, all the bonds were converted into common shares having a total value equal to the total face amount of the bonds. At conversion, the market price of Perseus's common shares was 50% above its average carrying value. Perseus adheres to IFRS.
-At issuance, the cash proceeds from the issuance of these bonds should be reported as

• A) contributed surplus for the entire proceeds.
• B) contributed surplus for the portion of the proceeds attributable to the conversion feature and as a liability for the balance.
• C) a liability for the present value of the bonds and contributed surplus for the balance.
• D) a liability for the entire proceeds.

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Definitions:

Distal Myopia

A condition where distant objects appear blurred due to the eye focusing images in front of the retina.

Distal Stimulus

An object or event in the external world that produces sensory input.

Sensation

The process of sensing our environment through touch, taste, sight, sound, and smell, which are then interpreted by our brains.

Perception

Perception is the process by which individuals organize and interpret sensory information to understand their environment and interactions.