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No. |
Account titles and explanation |
Debit |
Credit |
Cash ((108000-5400)/10*32) |
328320 |
||
Common stock (108000-5400)*1 |
102600 |
||
Paid in capital in excess of par – common stock |
225720 |
||
Cash (202000/100*1*80%)*30 |
48480 |
||
Paid-in capital stock warrants ((7/(96+7))*(202000*1.03))*80% |
11312 |
||
Common stock (202000/100*1*80%)*1 |
1616 |
||
Paid in capital in excess of par – common stock |
58176 |
||
For options exercised |
|||
Cash (9000-900)*30 |
243000 |
||
Paid-in capital stock warrants (9000-900)*10 |
81000 |
||
Common stock (9000-900)*1 |
8100 |
||
Paid in capital in excess of par – common stock |
315900 |
Monty Inc. Balance sheet |
||
Shareholders’ Equity: |
||
Share Capital: |
||
Common Shares |
2832316 |
|
Paid in capital in excess of par – common stock |
1244796 |
|
Paid-in capital stock warrants |
164828 |
4241940 |
Retained Earnings |
600000 |
|
Total Shareholders’ Equity |
$4841940 |
Common Shares = 2720000+102600+1616+8100 = 2832316
Paid in capital in excess of par – common stock = 645000+225720+58176+315900 = 1244796
Paid-in capital stock warrants = 14140-11312+90000+81000-9000 = 164828
((7/(96+7))*(202000*1.03)) = 14140
The stockholders' equity section of Monty Inc. at the beginning of the current year appears below....
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