2016年美国CPA模拟试题：Financial 5

　　Quoit, Inc. issued preferred stock with detachable common stock warrants. The issue price exceeded the sum of the warrants' fair value and the preferred stock's par value. The preferred stock's fair value was not determinable. What amount should be assigned to the warrants outstanding？

　　a. Excess of proceeds over the par value of the preferred stock.

　　b. Total proceeds.

　　c. The fair value of the warrants.

　　d. The proportion of the proceeds that the warrants' fair value bears to the preferred stock's par value.

　　答案：C

　　Explanation

　　Choice “c” is correct. The fair value of the warrants is credited to paid in capital.

　　Choice “b” is incorrect. If total proceeds were allocated to warrants, no value would be allocated to the common stock.

　　Choice “a” is incorrect. Par value is normally a nominal amount, even zero. （No par stock.）

　　Choice “d” is incorrect. An allocation of the warrants' fair value and the preferred stocks' par value would not make sense, since par value is unrelated to fair value.