FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Current Attempt in Progress
The stockholders' equity section of Windsor Inc. at the beginning of the current year appears below.
Common stock, $10 par value, authorized 1.095,000 shares, 293,000 shares issued and outstanding
Paid-in capital in excess of par-common stock
Retained earnings
1
During the current year, the following transactions occurred.
The company issued to the stockholders 103,000 rights. Ten rights are needed to buy one share of stock at $33. The rights
were void after 30 days. The market price of the stock at this time was $35 per share.
2
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Ch16 Homework II
5.
(a)
The company sold to the public a $213.000, 10% bond issue at 103. The company also issued with each $100 bond one
detachable stock purchase warrant, which provided for the purchase of common stock at $31 per share. Shortly after
issuance, similar bonds without warrants were selling at 96 and the warrants at $7.
Ch16 Homework II
6.
All but 900 shares related to the stock-option plan were exercised by year-end. The expiration resulted because one of the
executives failed to fulfill an obligation related to the employment contract
All but 5.150 of the rights issued in (1) were exercised in 30 days.
At the end of the year. 80% of the warrants in (2) had been exercised, and the remaining were outstanding and in good
standing.
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Prepare general journal entries for the current year to record the transactions listed above. (Credit account tities are automatically
indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the
amounts. Round intermediate calculations to 7 decimal places.es 1.2468756 and final answers to O decimal places. e. 5.125)
$2.930,000
604.000
During the current year, the company granted stock options for 9,000 shares of common stock to company executives. The
company, using a fair value option pricing model, determines that each option is worth $10. The option price is $31. The
options were to expire at year-end and were considered compensation for the current year.
2.
537,000
1.
Question 4 of 8
Prepare general journal entries for the current year to record the transactions listed above. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the
amounts. Round intermediate calculations to 7 decimal places, eg 1.2468756 and final answers to O decimal places, eg. 5,125)
Debit
Credit
No. Account Titles and Explanation
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Ch16 Homework II
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Transcribed Image Text:Current Attempt in Progress The stockholders' equity section of Windsor Inc. at the beginning of the current year appears below. Common stock, $10 par value, authorized 1.095,000 shares, 293,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings 1 During the current year, the following transactions occurred. The company issued to the stockholders 103,000 rights. Ten rights are needed to buy one share of stock at $33. The rights were void after 30 days. The market price of the stock at this time was $35 per share. 2 Question 4 of 8 < > 3. 4. 6-107733-ACC-3115-xNWP Ant bulder ApxNPA Player App C education wiley.com/was/ui/2/assessment-player/index.htmlaunchid-7665643d-5990-4ba5-ab69-7c291c65ed/question/3 ook Login Northwood Macro My Shelfedha 6 The Master Bud Ch16 Homework II 5. (a) The company sold to the public a $213.000, 10% bond issue at 103. The company also issued with each $100 bond one detachable stock purchase warrant, which provided for the purchase of common stock at $31 per share. Shortly after issuance, similar bonds without warrants were selling at 96 and the warrants at $7. Ch16 Homework II 6. All but 900 shares related to the stock-option plan were exercised by year-end. The expiration resulted because one of the executives failed to fulfill an obligation related to the employment contract All but 5.150 of the rights issued in (1) were exercised in 30 days. At the end of the year. 80% of the warrants in (2) had been exercised, and the remaining were outstanding and in good standing. -10772-ACC-115-xent Blder AxNWP Ant Player Ap C education wiley.com/was/ui/v2/assessment-player/index.htmiaunchid-7055643d-5990-4a5-a ook Login Northwood Macro My Shelf Redel62 The Mate Bud Play Prepare general journal entries for the current year to record the transactions listed above. (Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Round intermediate calculations to 7 decimal places.es 1.2468756 and final answers to O decimal places. e. 5.125) $2.930,000 604.000 During the current year, the company granted stock options for 9,000 shares of common stock to company executives. The company, using a fair value option pricing model, determines that each option is worth $10. The option price is $31. The options were to expire at year-end and were considered compensation for the current year. 2. 537,000 1. Question 4 of 8 Prepare general journal entries for the current year to record the transactions listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Round intermediate calculations to 7 decimal places, eg 1.2468756 and final answers to O decimal places, eg. 5,125) Debit Credit No. Account Titles and Explanation > 6-107733 ACC-315- XNWP Ant Buker AXNWP Assement Player App C education wiley.com/was/ui/v2/assessment-player/index.htmlaunched-7065643d-9990-ba ook-Log in Nothwood MaceMyShehe 62 The Master Bud Ch16 Homework II Question 4 of 8 < A coursohore.com 1ed/question/ 0
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