Please Explain Proper Step by Step and Do Not Give Solution In Image Format And Fast Answering Please & Thanks In Advance ? cesJournal entry worksheetRecord the issue of the non convertible bonds.Note: Enter debits before credits.Transaction1CashRecord entryBonds payableContributed capital: detachable stock warrantsView transaction list<Show Transcribed TextGeneral Journal1CloarJournal entry worksheetÇTransaction1Record the first interest payment.Note: Enter debits before credits.Interest expenseCashUGeneral JournalDebit5,300,000Cred5,180,5,130,Debit hi, main stuff in first two and last onetheee. please go through the entriesTR15-6 Warrants (LO 15-3)Shurwood Ltd. issued 5,180,000 10%, 10-year, nonconvertible bonds with detachable warrants for $5,300,000. Shortly after issuance,the warrants trade for $312,000 in total, and the bonds were trading at 86, or $5,130,000, ex-warrants (i.e., without warrants attached)Required:I1. Provide the journal entry to record the transactions. (Round the intermediate calculations to one decimal place and Round thefinal answers to nearest dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the firstaccount field.)NoTransactionNo1CashAnswer is complete but not entirely correct.General JournalTransactionBonds payableContributed capital detachable stock warrantsShow Transcribed TextGInterest expenseCashOGO2. Provide the journal entry to record the first payment of interest on the convertible bond assuming that the bonds pay interestannually. Effective interest rate is 10.59%. (Round percent answers to two decimal places of percentage and Round the finalanswers to nearest dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the firstaccount field.)Answer is not complete..General JournalDebit5,300,000OCreditDebit5.180.0005.130.000Credit4

Journal entries refers to the entries which are made at the end of the period or year and it records…

Shurwood Ltd issued 5,180,000 10%, 10-year, nonconvertible bonds with detachable warrants for $5,300,000. Shortly after issuance, the warrants trade for $312.000 in total, and the bonds were trading at 86, or $5,130,000, ex-warrants (ie, without warrants attached) Required: 1. Provide the journal entry to record the transactions. (Round the intermediate calculations to one decimal place and Round the final answers to nearest dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No 1 Transaction 1 Cash Answer is complete but not entirely correct. General Journal Bonds payable Contributed capital detachable stock warrants 0.0 Debit 5.300.000 Credit 5.180.000 5.130.000

Shurwood Ltd issued 5,180,000 10%, 10-year, nonconvertible bonds with detachable warrants for $5,300,000. Shortly after issuance, the warrants trade for $312.000 in total, and the bonds were trading at 86, or $5,130,000, ex-warrants (ie, without warrants attached) Required: 1. Provide the journal entry to record the transactions. (Round the intermediate calculations to one decimal place and Round the final answers to nearest dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No 1 Transaction 1 Cash Answer is complete but not entirely correct. General Journal Bonds payable Contributed capital detachable stock warrants 0.0 Debit 5.300.000 Credit 5.180.000 5.130.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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