JMR Ltd. issued $300,000 of 7%, 8 year, non-convertible bond with detachable stock purchase…
JMR Ltd. issued $300,000 of 7%, 8 year, non-convertible bond with detachable stock purchase warrants. KER Corp. purchased the entire issue. Each $1,000 bond carries 20 warrants. Each warrant entitles KER to purchase one common share for $20. The bond issue sells for 104 exclusive of accrued interest. Shortly after issuance, the warrants trade for $5 each and there was no market value for the bond. In the journal entry, the amount of the payable for the bond is: Select one: a. $321,000 b. $300,000 c. $350,000 d. $349,000 e. $339,000 May 16 2022 03:12 PM
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