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What is the amount of bond premium on november

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Problem 1: On November 1, 2014, RICH Inc. issued a 10% P2,000,000 bonds payable at 120. Each 1,000 bond has 10 detachable share warrants with a fair value of P20/warrant. The bonds are trading at 105 without the warrant. Each share warrant can be used to purchase one RICH's ordinary share with P5 par value for P6/share. The bondholders exercised all the warrants on December 31, 2014. What is the amount of bond premium/(discount) on November 1, 2014?

Reference no: EM132772399

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