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Barker Industries issued 8,000 of its $1,000 par value bonds for $1,030, providing total cash proceeds of $8,240,000. Each bond contains 20 detachable stock warrants
Barker Industries issued 8,000 of its $1,000 par value bonds for $1,030, providing total cash proceeds of $8,240,000. Each bond contains 20 detachable stock warrants that allow the bondholder to purchase a share of Barker's common stock for $50. Immediately after the issue, the warrants were selling for $4 each and the bonds without the warrants were selling for $1,010. How much will be credited to Paid -in Capital-Stock Warrants? (Round intermediary calculations to four decimal places and your final answer to the nearest dollar.) O A. $0 O B. $7,600,000 O C. $240,000 D. $604,816
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