Prepare journal entries to record each of the following transactions for Freight Co.
a. Freight Co. issues stock warrants for $20,000 cash. The warrants allow holders to purchase 5,000 common shares (par value $5) for $50 each.
b. One-half of the warrants are exercised.
c. The remaining warrants expire.

Question

Prepare journal entries to record each of the following transactions for Freight Co.
 a.	Freight Co. issues stock warrants for $20,000 cash. The warrants allow holders to purchase 5,000 common shares (par value $5) for $50 each.
b.	One-half of the warrants are exercised.
c.	The remaining warrants expire.

Quizplus · Accepted Answer

The Answer of Prepare journal entries to record each of the following transactions for Freight Co.
 a.	Freight Co. issues stock warrants for $20,000 cash. The warrants allow holders to purchase 5,000 common shares (par value $5) for $50 each.
b.	One-half of the warrants are exercised.
c.	The remaining warrants expire.

Prepare Journal Entries to Record Each of the Following Transactions