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On September 1, 2020, your company sold at 103 (plus accrued interest) 4,000 of its $1,000 face value, 10-year, 8%, non-convertible bonds with detachable stock
- On September 1, 2020, your company sold at 103 (plus accrued interest) 4,000 of its $1,000 face value, 10-year, 8%, non-convertible bonds with detachable stock warrants. Each bond carried two detachable warrants; each warrant was for one common share at a specified price of $12 per share. Shortly after issuance, the warrants were selling for $6 each. Assume there is no fair value available for the bonds. Interest is payable on December 1 and June 1. The company follows IFRS, show the journal entries required for 2020
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Fundamental Accounting Principles Volume II
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
16th Canadian edition
1259261433, 978-1260305838
