Use the Following Information for Questions 59 and 60

question 48

Multiple Choice

Use the following information for questions 59 and 60.
On May 1, 2014, Marly Co. issued $1,500,000 of 7% bonds at 103, which are due on April 30, 2024. Twenty detachable stock warrants entitling the holder to purchase for $40 one share of Marly's common stock, $15 par value, were attached to each $1,000 bond. The bonds without the warrants would sell at 96. On May 1, 2014, the fair value of Marly's common stock was $35 per share and of the warrants was $2.
-On May 1, 2014, Marly should credit Paid-in Capital from Stock Warrants for

• A) $105,000
• B) $ 61,800
• C) $ 60,000
• D) $ 57,600

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Definitions:

Experimentation

The systematic investigation into and study of materials and sources to establish facts and reach new conclusions.

Non-conformity

Behaviors or actions that do not comply with prevailing norms, expectations, or standards, often viewed in the context of individualism and innovation.

Social Approval

The positive recognition or endorsement from a social group or society, which can influence individuals' behavior and decisions.

Intense Pressure

A forceful condition that demands a high level of performance or decision-making, often within a constrained timeframe.