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Can someone help me with this question 1.York Company issued 1,000 bonds each with a par value of $1,000 and each carrying a detachable warrant
Can someone help me with this question
1.York Company issued 1,000 bonds each with a par value of $1,000 and each carrying a detachable warrant for the purchase of 4 shares of stock at $40 each.On the day of the bond issue, the bond could have been issued without warrants at par while the warrants could have been sold separately for $60.The amount received for the combined instrument on the date of the issue was $1,025,000.
Using the proportional method, record the issue of the two securities.
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