A)Number of stock warrants issued = 217000 bonds *1 warrant /100 =2170 warrants
Number of warrants exercised in part 4 = 2170 *80%= 1736
Date | Account title | Debit | credit |
4 | Paid in capital -stock warrant | 12152 | |
cash | 48608 | ||
common stock (1736*10 par value) | 17360 | ||
paid in capital in excess of par -common stock (residual value) | 43400 |
B)
Metlock Inc Balance sheet |
||
Stockholders equity | ||
Paid in capital | ||
common stock | 3002960 | |
Paid in capital in excess of par -common stock | 1019160 | |
Paid in capital -stock warrants | 3038 | |
Total paid in capital | 4025158 | |
Retained earning | 707000 | |
Total stockholders equity | 4732158 |
#Common stock =2810000 beginning+87400 (part 3 ) +17360 (part 4) +88200 (part 6) = 3002960
Paid in capital in excess of par -common stock= 554000 beginning+174800 (part 3 ) +43400 (part 4) +246960 (part 6) = 1019160
Paid in capital-stock warrant =15190 (part 2) -12152 (part 3)expired =3038
Question 5 0.49/1 View Policies Show Attempt History Current Attempt in Progress The stockholders' equity section...
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