Can someone please help me with this? Please use an excel file as a solution that explains it

Problem 16-1 1 of 2 http://edugen.wileyplus.com/edugen/shared/assignment/test/qprint.uni *Problem 16-1 The stockholders' equity section of Martino Inc. at the beginning of the current year appears below. Common stock, $10 par value, authorized 1,105,000 shares, 310,000 shares issued and outstanding $3,100,000 Paid-in capital in excess of parcommon stock 607,000 Retained earnings 645,000 During the current year, the following transactions occurred. 1. The company issued to the stockholders 102,000 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. The company sold to the public a $287,000, 10% bond issue at 105. 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 $9. 3. All but 5,100 of the rights issued in (1) were exercised in 30 days. 4. At the end of the year, 80% of the warrants in (2) had been exercised, and the remaining were outstanding and in good standing. 5. During the current year, the company granted stock options for 11,400 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. 6. All but 1,140 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. 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 0 for the amounts.) No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 4/21/2015 1:47 AM Problem 16-1 2 of 2 http://edugen.wileyplus.com/edugen/shared/assignment/test/qprint.uni 5. 6. For options exercised: For options lapsed: Prepare the stockholders' equity section of the balance sheet at the end of the current year. Assume that retained earnings at the end of the current year is $766,000. Martino Inc. Balance Sheet $ $ $ 4/21/2015 1:47 AM Problem 16-1 The stockholders' equity section of Martino Inc. at the beginning of the current year appears below. Common stock, $10 par value, authorized 1,105,000 shares, 310,000 shares issued and outstanding $3,100,000 Paid-in capital in excess of parcommon stock 607,000 Retained earnings 645,000 During the current year, the following transactions occurred. 1. The company issued to the stockholders 102,000 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. The company sold to the public a $287,000, 10% bond issue at 105. 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 $9. 3. All but 5,100 of the rights issued in (1) were exercised in 30 days. 4. At the end of the year, 80% of the warrants in (2) had been exercised, and the remaining were outstanding and in good standing. 5. During the current year, the company granted stock options for 11,400 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. 6. All but 1,140 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. Particulars Debit Credit 1 Memorandum entry made to indicate the number of rights issued. 2 Cash Discount on Bonds Payable Bonds Payable Paid in capital - Stock Warrants 301,350 11,480 287,000 25,830 Allocated to Bonds 96 * 287000*105/100 96+9 275520 discount = 287000-275520 11480 Allocated to warrants; 9/96+9 * 301350 25830 3 Cash 319,770 Common Stock Paid in capital in excess of Par 96,900 222,870 1,205,410 (102000 - 5100) rights exercised ) / (10 rights per share)*33 96,900 * 3.3 =319770 4 Paid in capital - Stock warrants Cash Common Stock Paid in capital in excess of Par 20,664 71,176 5 Compensation Expense Paid in capital - Stock Options 114,000 22,960 68,880 114,000 6 For Options excercised Cash Paid in Capital -Stock Options Common Stock Paid in capital in excess of Par 318,060 91,200 102,600 306,660 For options lapsed Paid in capital -Stock Options Compensation Expense b) 11,400 11,400 Prepare the stockholders' equity section of the balance sheet at the end of the current year. Assume that retained earnings at the end of the current year is $766,000. Martino Inc. Balance Sheet Shareholders equity; Paid-in Capital: Common Stock, $10 par value, authorized 1,000,000 shares, 332,246 shares issued and outstanding Paid in capital in excess of Par Paid in capital -Stock Warrants Retained Earnings Total stockholders equity Calculations: At beginning of year From stock rights (entry #3) From stock warrants (entry #4) From stock options (entry #6) Total 3,322,460 1,216,810 5,166 4,544,436 766,000 5,310,436 Paid-in Capital Common Stock in Excess of Par 310,000 shares 607,000 9,690shares 222,870 2,296shares 68,880 10,260 shares 318,060 332,246 shares 1,216,810 11400 Problem 16-1 The stockholders' equity section of Martino Inc. at the beginning of the current year appears below. Common stock, $10 par value, authorized 1,105,000 shares, 310,000 shares issued and outstanding $3,100,000 Paid-in capital in excess of parcommon stock 607,000 Retained earnings 645,000 During the current year, the following transactions occurred. 1. The company issued to the stockholders 102,000 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. The company sold to the public a $287,000, 10% bond issue at 105. 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 $9. 3. All but 5,100 of the rights issued in (1) were exercised in 30 days. 4. At the end of the year, 80% of the warrants in (2) had been exercised, and the remaining were outstanding and in good standing. 5. During the current year, the company granted stock options for 11,400 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. 6. All but 1,140 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. Particulars Debit Credit 1 Memorandum entry made to indicate the number of rights issued. 2 Cash Discount on Bonds Payable Bonds Payable Paid in capital - Stock Warrants 301,350 11,480 287,000 25,830 Allocated to Bonds 96 * 287000*105/100 96+9 275520 discount = 287000-275520 11480 Allocated to warrants; 9/96+9 * 301350 25830 3 Cash 319,770 Common Stock Paid in capital in excess of Par 96,900 222,870 1,205,410 (102000 - 5100) rights exercised ) / (10 rights per share)*33 96,900 * 3.3 =319770 4 Paid in capital - Stock warrants Cash Common Stock Paid in capital in excess of Par 20,664 71,176 5 Compensation Expense Paid in capital - Stock Options 114,000 22,960 68,880 114,000 6 For Options excercised Cash Paid in Capital -Stock Options Common Stock Paid in capital in excess of Par 318,060 91,200 102,600 306,660 For options lapsed Paid in capital -Stock Options Compensation Expense b) 11,400 11,400 Prepare the stockholders' equity section of the balance sheet at the end of the current year. Assume that retained earnings at the end of the current year is $766,000. Martino Inc. Balance Sheet Shareholders equity; Paid-in Capital: Common Stock, $10 par value, authorized 1,000,000 shares, 332,246 shares issued and outstanding Paid in capital in excess of Par Paid in capital -Stock Warrants Retained Earnings Total stockholders equity Calculations: At beginning of year From stock rights (entry #3) From stock warrants (entry #4) From stock options (entry #6) Total 3,322,460 1,205,410 5,166 4,533,036 766,000 5,299,036 Paid-in Capital Common Stock in Excess of Par 310,000 shares 607,000 9,690shares 222,870 2,296shares 68,880 10,260 shares 306,660 332,246 shares 1,205,410 \fProblem 16-1 The stockholders' equity section of Martino Inc. at the beginning of the current year appears below. Common stock, $10 par value, authorized 1,105,000 shares, 310,000 shares issued and outstanding $3,100,000 Paid-in capital in excess of parcommon stock 607,000 Retained earnings 645,000 During the current year, the following transactions occurred. 1. The company issued to the stockholders 102,000 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. The company sold to the public a $287,000, 10% bond issue at 105. 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 $9. 3. All but 5,100 of the rights issued in (1) were exercised in 30 days. 4. At the end of the year, 80% of the warrants in (2) had been exercised, and the remaining were outstanding and in good standing. 5. During the current year, the company granted stock options for 11,400 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. 6. All but 1,140 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. Particulars Debit Credit 1 Memorandum entry made to indicate the number of rights issued. 2 Cash Discount on Bonds Payable Bonds Payable Paid in capital - Stock Warrants 301,350 11,480 287,000 25,830 Allocated to Bonds 96 * 287000*105/100 96+9 275520 discount = 287000-275520 11480 Allocated to warrants; 9/96+9 * 301350 25830 3 Cash 319,770 Common Stock Paid in capital in excess of Par 96,900 222,870 1,205,410 (102000 - 5100) rights exercised ) / (10 rights per share)*33 96,900 * 3.3 =319770 4 Paid in capital - Stock warrants Cash Common Stock Paid in capital in excess of Par 20,664 71,176 5 Compensation Expense Paid in capital - Stock Options 114,000 22,960 68,880 114,000 6 For Options excercised Cash Paid in Capital -Stock Options Common Stock Paid in capital in excess of Par 318,060 91,200 102,600 306,660 For options lapsed Paid in capital -Stock Options Compensation Expense b) 11,400 11,400 Prepare the stockholders' equity section of the balance sheet at the end of the current year. Assume that retained earnings at the end of the current year is $766,000. Martino Inc. Balance Sheet Shareholders equity; Paid-in Capital: Common Stock, $10 par value, authorized 1,000,000 shares, 332,246 shares issued and outstanding Paid in capital in excess of Par Paid in capital -Stock Warrants Retained Earnings Total stockholders equity Calculations: At beginning of year From stock rights (entry #3) From stock warrants (entry #4) From stock options (entry #6) Total 3,322,460 1,216,810 5,166 4,544,436 766,000 5,310,436 Paid-in Capital Common Stock in Excess of Par 310,000 shares 607,000 9,690shares 222,870 2,296shares 68,880 10,260 shares 318,060 332,246 shares 1,216,810 11400