CourseLover

(12)

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About CourseLover

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Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Engineering,Health & Medical,HR Management,Law,Marketing,Math,Physics,Psychology,Programming,Science Hide all
Teaching Since: May 2017
Last Sign in: 286 Weeks Ago, 3 Days Ago
Questions Answered: 27237
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Education

  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

Experience

  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 13 Dec 2017 My Price 10.00

credit Paid-in-Capital from stock warrants

Homework question:

On May 1, 2001 King Co. issued $300,000 of 7% bonds at 99, maturedd in 10 years. 20 detachable stock warrants entitling the holder to purchase for $40 one share of Kings common stock, $15par value, were attached to each $1000 bond.  The bonds without the warrants would sell at 96.  On May 1, the fair value of Kings common stock was $35 per share and of the warrants $3.

On May 1, King should credit Paid-in-Capital from stock warrants for:

A  $11,520

B $12,000

C $17,470

D $21,000

PLEASE SHOW THE CALCULATIONS FOR ACHIEVING THE CORRECT ANSWER.  THANK YOU

Answers

CourseLover
(12)
Status NEW Posted 13 Dec 2017 08:12 AM My Price 10.00

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