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On December 31, 2016 Moss Co. issued $1,000,000 of 11% bonds at 109. Each $1,000 bond was issued with 50 detachable stock warrants each of
On December 31, 2016 Moss Co. issued $1,000,000 of 11% bonds at 109. Each $1,000 bond was issued with 50 detachable stock warrants each of which entitled the bondholder to purchase one share of $5 par common stock for $25.Immediately after issuance, the marker value for each warrant was $4. On December 31, 2016 what amount should Moss record as discount or premium on issance of bands?
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