May 1, 2025, Bramble Company issued 1,900 $1,000 bonds at 102. Each bond was issued with one detachable stock rrant. Shortly after issuance, the bonds were selling at 97, but the fair value of the warrants cannot be determined. Prepare the entry to record the issuance of the bonds and warrants. (List debit entry before credit entry. Credit account titles are comatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles denter o for the amounts.) ccount Titles and Explanation Cash Discount on Bonds Payable Bonds Payable Paid-in Capital-Stock Warrants ccount Titles and Explanation Cash Discount on Bonds Payable Bonds Payable Debit Paid-in Capital-Stock Warrants 1938000 Assume the same facts as part (a), except that the warrants had a fair value of $37. Prepare the entry to record the issuance the bonds and warrants. (List all debit entries before credit entries. Credit account titles are automatically indented when amount i ered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Do not nd intermediate calculations. Round answers to 0 decimal places, e.g. 5,125.) 38000 Debit 1938000 Credit 33562 1900000 76000 Credit 1900000 71563
May 1, 2025, Bramble Company issued 1,900 $1,000 bonds at 102. Each bond was issued with one detachable stock rrant. Shortly after issuance, the bonds were selling at 97, but the fair value of the warrants cannot be determined. Prepare the entry to record the issuance of the bonds and warrants. (List debit entry before credit entry. Credit account titles are comatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles denter o for the amounts.) ccount Titles and Explanation Cash Discount on Bonds Payable Bonds Payable Paid-in Capital-Stock Warrants ccount Titles and Explanation Cash Discount on Bonds Payable Bonds Payable Debit Paid-in Capital-Stock Warrants 1938000 Assume the same facts as part (a), except that the warrants had a fair value of $37. Prepare the entry to record the issuance the bonds and warrants. (List all debit entries before credit entries. Credit account titles are automatically indented when amount i ered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Do not nd intermediate calculations. Round answers to 0 decimal places, e.g. 5,125.) 38000 Debit 1938000 Credit 33562 1900000 76000 Credit 1900000 71563
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:May 1, 2025, Bramble Company issued 1,900 $1,000 bonds at 102. Each bond was issued with one detachable stock
arrant. Shortly after issuance, the bonds were selling at 97, but the fair value of the warrants cannot be determined.
Prepare the entry to record the issuance of the bonds and warrants. (List debit entry before credit entry. Credit account titles are
tomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles
d enter O for the amounts.)
■ccount Titles and Explanation
Cash
Discount on Bonds Payable
Bonds Payable
Paid-in Capital-Stock Warrants
■ccount Titles and Explanation
Cash
Discount on Bonds Payable
Bonds Payable
Debit
Paid-in Capital-Stock Warrants
Assume the same facts as part (a), except that the warrants had a fair value of $37. Prepare the entry to record the issuance
the bonds and warrants. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is
tered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Do not
und intermediate calculations. Round answers to 0 decimal places, e.g. 5,125.)
1938000
Debit
I
38000
1938000
Credit
33562
1900000
76000
Credit
1900000
71563
Expert Solution
Step 1
Golden Rules of Accounting:
|
Account |
Debit |
Credit |
|
Personal Accounts |
The Receiver |
The Giver |
|
Real Accounts |
What comes in |
What goes out |
|
Nominal Accounts |
All Expenses and Losses |
All Incomes and Gains |
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