ACCT 304 Chapter 16 QUIZ

ACCT 304 Chapter 16 QUIZ
E16 9 Issuance of Bonds with Stock Warrants On May 1 2012 Barkley Company issued 3000 1000
bonds at 102. Each bond was issued with one detachable stock warrant. Shortly after issuance, the bonds
were selling at 98, but the fair value of the warrants cannot be determined.
Instructions
(a) Prepare the entry to record the issuance of the bonds and warrants.
(b) Assume the same facts as part (a), except that the warrants had a fair value of $20. Prepare the entry
to record the issuance of the bonds and warrants.

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