Partially correct answer iconYour answer is partially correct. Sweet Company issued $11,000,000 par value 5% bonds at 97. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for $2.
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- For each of the unrelated transactions described below, present the entry(ies) required. (a) Sarasota Company issued $10,000,000 par value 5% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for $2. (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 for the amounts.) Account Titles and Explanation Debit CreditBonita 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 $40. Use the proportional method to record the issuance of the bonds and warrants. (List all debit entries before credit entries. 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 for the amounts. Do not round intermediate calculations. Round your answers to O decimal places, e.g. 5,125.) Account Titles and Explanation Debit CreditBlue Corporation issued 2,100 $1,000 bonds at 103. 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 $41.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 the amounts. Round your answers to 0 decimal places, e.g. 5,125.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount
- Blossom Capital Ltd. issued 450 $1,000 bonds at 101. Each bond was issued with 10 detachable stock warrants. After issuance, similar bonds were sold at 95, and the warrants had a fair value of $2.30. Your answer is partially correct. Record the issuance of the bonds and warrants assuming that Blossom Capital follows IFRS. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Cash Bonds Payable Contributed Surplus - Stock Warrants Debit 454,500 Credit 427,935 26,565Current Attempt in Progress Your answer is partially correct. Tamarisk Corporation issued 2,100 $1,000 bonds at 103. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling in the market at 97, and the warrants had a market price of $50. Use the proportional method to record the issuance of the bonds and warrants. (List all debit entries before credit entries. 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 for the amounts. Do not round intermediate calculations. Round your answers to O decimal places, e.g. 5,125.) Account Titles and Explanation Cash Discount on Bonds Payable Bonds Payable Paid-in Capital-Stock Warrants Debit 2163000 Credit 2100000Crane Corporation 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 price of $40. Use the proportional method to record the issuance of the bonds and warrants. (List all debit entries before credit entries. 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 for the amounts. Do not round intermediate calculations. Round your answers to O decimal places, e.g. 5,125.) Account Titles and Explanation Cash Discount on Bonds Payable Bonds Payable Paid-in Capital-Stock Warrants Debit 2,020,000 22360 Credit 2,000,000 76216
- Carla Corporation issued 2,200 $1,000 bonds at 103. 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 $45.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 the amounts. Round intermediate calculations to 5 decimal places, e.g. 1.24687 and final answers to 0 decimal places, e.g. 5,125.) Account Titles and Explanation Debit CreditYour answer is partially correct. Eisler Corporation 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 price of $40. 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 O for the amounts. Round your answers to O decimal places, e.g. 5,125.) Account Titles and Explanation Cash Discount on Bonds Payable Bonds Payable Paid-in Capital-Stock Warrants Debit 2020000 Credit 2000000 78780Blend Inc. issued 500, $1,000 bonds at 102. Each bond was issued with two detachable stock warrants. After issuance, the bonds were selling in the market at 97. a. Assume the warrants had a market value of $35 each after issuance. Under the proportional method, the journal entry to record the issuance of the bonds and warrants includes a debit to Discount on Bonds Payable of? b. Assume that after issuance, the market price of the warrants, without the bonds, cannot be determined. Under the incremental method, the journal entry to record the issuance of the bonds and warrants includes a debit to Discount on Bonds Payable of? Please avoid solutions image based thenx
- Wildhorse Corporation issued 2,050 $1,000 bonds at 101. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling separately at 99. 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. (List all debit entries before credit entries. 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 for the amounts) Account Titles and Explanation Debit Credit- Your answer is partially correct. Skysong Limited issued $36,000,000 of par value, 6% bonds at 99. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for $5. Skysong has adopted ASPE. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Option 1: Residual Method Cash Bonds Payable Contributed Surplus - Stock Warrants Option 2: Value Equity component at zero Cash Bonds Payable Debit 35640000 33840000 Credit 33840000 1800000 33840000Ayayai Corporation issued 5,000 $1,000 bonds at 98. 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 0 for the amounts.)