On may 31 2007 core company issued 1000 14 10-year, Ask an Expert

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On May 31, 2007, Core Company issued 1,000, 14%, 10-year $1,000bonds at 105. Each bond was issued with one detachable stockwarrant. Shortly after issuance, the bonds were selling at 102, butthe market value of the warrants cannot be determined.

Instructions:

(a) Prepare the entry to record the issuance ofthe bonds and warrants.

(b) Assume the same facts as part (a), exceptthat the warrants had a fair value of $8. Prepare the entry to record the issuance of the bonds and warrants.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9797814

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