journal entries for stock warrants kiersten corporation sells 6 246104

Journal entries for stock warrants. Kiersten Corporation sells 60,000 common stock warrants for $4 each on February 26, 2008. Each warrant permits its holder to purchase a share of the firm’s $10 par value common stock for $30 per share at any time during the next two years. The market price of the common shares was $20 per share on February 26, 2008. Holders of 40,000 warrants exercised their warrants on June 6, 2010, at a time when the market price of the stock was $38 per share. Kiersten Corporation experienced a major uninsured loss from a fire late in 2010, and its market price fell immediately to $22 per share. The market price remained around $22 until the stock warrants expired on February 26, 2012. Present journal entries on February 26, 2008; June 6, 2010; and February 26, 2012, relating to these stock warrants.

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