Question
On January 1,2020 James Bond, inc. issued its 5-year 10%, 1,000,000 bonds for P1,150,000. Each P1,000 bond has 3 warrants attached. The bondholders may purchase
On January 1,2020 James Bond, inc. issued its 5-year 10%, 1,000,000 bonds for P1,150,000. Each P1,000 bond has 3 warrants attached. The bondholders may purchase 2 of the Companys p35 par value ordinary shares for each warrant at the specified option price of P50. The bonds were selling for 109 without warrants.
On February 27,2021, 400 bondholders exercised their right to purchase ordinary shares, when the shares were selling for P67.
How much is the share warrants outstanding on issue date?
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Auditing And Other Assurance Services
Authors: Alvin Arens, James Loebbecke, W Lemon, Ingrid Splettstoesser
9th Canadian Edition
0130091243, 978-0130091246
