Question: On May 1 , 2 0 2 3 , Pina Ltd . issued $ 5 1 2 0 0 0 , 1 0 year, 7

On May 1,2023, Pina Ltd. issued $512000,10 year, 7% bonds at 102. Twenty detachable warrants were attached to each $1000 bond,
which entitled the holder to purchase one of Pina's no par value common shares for $40. At this time, similar bonds without warrants
were selling at 95. It was determined that the fair value of Pina's common shares was $34, but the value of the warrants was NOT
determinable. Pina is a private corporation that follows ASPE, but does NOT use the residual method. On May 1,2023, Pina should
credit Bonds Payable for
$486400.
Cannot be determined from the information given.
$522240.
$512000.
On May 1 , 2 0 2 3 , Pina Ltd . issued $ 5 1 2 0

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