On May 1, 2022, Barkley SA issued 3,000 1,000 bonds at 102. Each bond was issued with
Question:
On May 1, 2022, Barkley SA issued 3,000 €1,000 bonds at 102. Each bond was issued with one detachable share warrant. The fair value of the bonds on May 1, 2022, was €2,940,000.
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 an estimated fair value of €25. Prepare the entry to record the issuance of the bonds and warrants.
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Step by Step Answer:
a Date Accounts Debit Credit May 1 2022 Cash 30001000102 3060000 ...View the full answer
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Related Book For 
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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