Lyman’s business has grown to 400 employees with annual revenues of $15 million. He would like to expand further but needs anoth
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Answer:
In the books of Eisler Corporation :
Cash ( 2,000 x 1,000 x 101 %) A/c Dr. 2,020,000
Discount on Bonds Payable A/c Dr. $59,216
To Bonds Payable 2,000,000
To Paid-in Capital : Stock Warrants 79,216
Workings:
Bond issue proceeds proportionately allocated to bonds:
= 1,940,784.31
Discount on bonds payable = $ 2,000,000 - $1,940,784
= $59,216