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Tamarisk Corporation issued 2,100 $1,000 bonds at 103. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling in
Tamarisk Corporation issued 2,100 $1,000 bonds at 103. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling in the market at 97, and the warrants had a market price of $50. Use the proportional method to record the issuance of the bonds and warrants. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Do not round intermediate calculations. Round your answers to O decimal places, e.g. 5,125.) Account Titles and Explanation Cash Discount on Bonds Payable Bonds Payable Debit 2163000 Credit 2100000
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Total Proceeds Number of Bonds Bond Issue Price Total Proceeds 2100 1030 2163000 Total Ma...Get Instant Access to Expert-Tailored Solutions
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