Prepare Journal Entries to Record Each of the Following Transactions

question 39

Essay

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.

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Definitions:

Heteronormativity

The belief system or social bias that presumes heterosexual relationships and norms as the default or only valid option.

Transsexuals

Transsexuals are individuals who have a gender identity that is different from the sex they were assigned at birth and who often seek to live as, or transition to, the gender with which they identify, sometimes involving medical intervention.

Physical Violence

The use of physical force with the intention of causing harm, injury, or physical suffering to an individual or group.

Homosexuals

Homosexuals are individuals who are emotionally, romantically, or sexually attracted to people of the same gender.