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What is the carrying mount of bonds payable at year-end

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At year-end, Fort Company issued 5,000 of 8%, 10-year, P1,000 face value bonds with detachable share warrants at 110. Each bond carried a detachable warrant for ten ordinary shares of Fort Company at a specified option price of P25 per share. The par value of the ordinary share is P20. Immediately after issuance, the market value of the bonds without the warrant was P5,400,000 and the market value of the warrant was P600,000.

Problem 1. What is the carrying mount of bonds payable at year-end?

a. 5,000,000
b. 4,950,000
c. 4,900,000
d. 5,400,000

Reference no: EM132881042

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