If 10,000 Stock Warrants Are Issued to the General Public

question 129

Multiple Choice

If 10,000 stock warrants are issued to the general public for $10,000, and later those warrants and $150,000 are exchanged for 10,000 shares of no-par stock, the entry to record the exercise of the warrants would be:

• A)Cash 150,000 Common Stock Warrants 10,000
• Common Stock 160,000
• B)Cash 150,000 Common Stock 140,000
• Common Stock Warrants 10,000
• C)Cash 150,000 Common Stock Warrants 10,000
• Common Stock 150,000
• Add'l Paid-in Capital-Stock Warrants 10,000
• D)Cash 150,000 Warrant Stock 150,000
• E)Cash 150,000 Common Stock Warrants 10,000
• Warrant Stock 150,000
• Add'l Paid-in Capital-Stock Warrants 10,000

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