On December 31, 2009, the balance sheet of the Gable Corporation reported 1,000 bonds outstanding with a face value of $500,000 and a related unamortized discount of $35,000. The bonds are convertible at the rate of 25 shares of common stock for each $1,000 bond. On January 1, 2010 , the bondholders presented $400,000 of the bonds for conversion. The entry to record this conversion contained a credit to Additional Paid-in Capital for $172,000. Calculate the par value per share of the common stock.

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The Answer of On December 31, 2009, the balance sheet of the Gable Corporation reported 1,000 bonds outstanding with a face value of $500,000 and a related unamortized discount of $35,000. The bonds are convertible at the rate of 25 shares of common stock for each $1,000 bond. On January 1, 2010 , the bondholders presented $400,000 of the bonds for conversion. The entry to record this conversion contained a credit to Additional Paid-in Capital for $172,000. Calculate the par value per share of the common stock.

On December 31, 2009, the Balance Sheet of the Gable