Monty Corporation issued 1,500 $1,000 bonds at 101. Each bond was issued with one detachable stock...
Monty Corporation issued 1,500 $1,000 bonds at 101. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling separately at 97. The market price of the warrants without the bonds cannot be determined. Use the incremental method to record the issuance of the bonds and warrants.
Homework Answers
| Journal entries | ||
| ACCOUNT TITLES AND EXPLANATIONS | DEBIT ($) | CREDIT ($) |
| Cash (1,500 x $1,000 x 101%) | 1,515,000.00 | |
| Discount on bonds payable (Balancing figure) | 45,000.00 | |
| Bond Payable | 1,500,000.00 | |
| Paid-in Capital—Stock Warrants [1,500,000 x (101%-97%)] | 60,000.00 | |
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Monty Corporation issued 1,500 $1,000 bonds at 101. Each bond
was issued with one detachable stock...
Blossom Corporation issued 1,200 $1,000 bonds at 103. Each bond was issued with one detachable stock...
Blossom Corporation issued 1,200 $1,000 bonds at 103. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling separately at 97. The market price of the warrants without the bonds cannot be determined. Use the incremental method to record the issuance of the bonds and warrants. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o...
Cullumber Corporation issued 1,900 $1,000 bonds at 101. Each bond was issued with one detachable stock...
Cullumber Corporation issued 1,900 $1,000 bonds at 101. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling in the market at 98, and the warrants had a market price of $38. Use the proportional method to record the issuance of the bonds and warrants.
Brief Exercise 16-5 Swifty Corporation issued 1,350 $1,000 bonds at 101. Each bond was issued with...
Brief Exercise 16-5 Swifty Corporation issued 1,350 $1,000 bonds at 101. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling separately at 98. The market price of the warrants without the bonds cannot be determined. Use the incremental method to record the issuance of the bonds and warrants. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles...
Brief Exercise 16-5 McIntyre Corporation issued 2,000 $1,000 bonds at 101. Each bond was issued with...
Brief Exercise 16-5
McIntyre Corporation issued 2,000 $1,000 bonds at 101. Each bond
was issued with one detachable stock warrant. After issuance, the
bonds were selling separately at 98. The market price of the
warrants without the bonds cannot be determined.
Use the incremental method to record the issuance of the bonds and
warrants. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles...
Brief Exercise 16-05 Ayayai Corporation issued 1,350 $1,000 bonds at 101. Each bond was issued with...
Brief Exercise 16-05 Ayayai Corporation issued 1,350 $1,000 bonds at 101. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling separately at 98. The market price of the warrants without the bonds cannot be determined. Use the incremental method to record the issuance of the bonds and warrants. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles...
Margolf Corp. issued 2,000, $1,000 bonds at 101. Each bond was issued with one detachable stock...
Margolf Corp. issued 2,000, $1,000 bonds at 101. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling in the market at 98, and the warrants had a market value of $40. Use the proportional method to record the issuance of the bonds and warrants PLEASE SHOW YOUR WORK
On May 1, 2017, Tamarisk Company issued 1,400 $1,000 bonds at 102. Each bond was issued with one detachable stock warran...
On May 1, 2017, Tamarisk Company issued 1,400 $1,000 bonds at 102. Each bond was issued with one detachable stock warrant. Shortly after issuance, the bonds were selling at 97, but the fair value of the warrants cannot be determined. (a) Prepare the entry to record the issuance of the bonds and warrants (b) Assume the same facts as part (a), except that the warrants had a fair value of $22. Prepare the entry to record the issuance of the...
Problem 3 Headland Corporation issued 1,900 $1,000 bonds at 102. Each bond was issued with one...
Problem 3 Headland Corporation issued 1,900 $1,000 bonds at 102. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling in the market at 99, and the warrants had a market price of $41. Use the proportional method to record the issuance of the bonds and warrants. Account Titles and Explanation Debit Credit
Brief Exercise 16-04 Sunland Corporation issued 1,900 $1,000 bonds at 101. Each bond was issued with...
Brief Exercise 16-04 Sunland Corporation issued 1,900 $1,000 bonds at 101. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling in the market at 98, and the warrants had a market price of $43. Use the proportional method to record the issuance of the bonds and warrants. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and...
Flint Corporation issued 2,000 $1,000 bonds at 102. Each bond was issued with one detachable stock...
Flint Corporation issued 2,000 $1,000 bonds at 102. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling in the market at 98, and the warrants had a market price of $39. Use the proportional method to record the issuance of the bonds and warrants. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for...
Blossom Corporation issued 1,200 $1,000 bonds at 103. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling separately at 97. The market price of the warrants without the bonds cannot be determined. Use the incremental method to record the issuance of the bonds and warrants. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o...
Brief Exercise 16-5 Swifty Corporation issued 1,350 $1,000 bonds at 101. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling separately at 98. The market price of the warrants without the bonds cannot be determined. Use the incremental method to record the issuance of the bonds and warrants. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles...
Brief Exercise 16-5
McIntyre Corporation issued 2,000 $1,000 bonds at 101. Each bond
was issued with one detachable stock warrant. After issuance, the
bonds were selling separately at 98. The market price of the
warrants without the bonds cannot be determined.
Use the incremental method to record the issuance of the bonds and
warrants. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles...
Brief Exercise 16-05 Ayayai Corporation issued 1,350 $1,000 bonds at 101. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling separately at 98. The market price of the warrants without the bonds cannot be determined. Use the incremental method to record the issuance of the bonds and warrants. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles...
Problem 3 Headland Corporation issued 1,900 $1,000 bonds at 102. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling in the market at 99, and the warrants had a market price of $41. Use the proportional method to record the issuance of the bonds and warrants. Account Titles and Explanation Debit Credit
Brief Exercise 16-04 Sunland Corporation issued 1,900 $1,000 bonds at 101. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling in the market at 98, and the warrants had a market price of $43. Use the proportional method to record the issuance of the bonds and warrants. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and...
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