The shareholders' equity section of Wildhorse Inc at the beginning of the current year is as follows Common shares, 1,000,000 shares authorized, 300,000 shares issued and outstanding $3,600,000 Retained earnings 570,000 During the current year, the following transactions occurred 1 The company issued 107,000 rights to the shareholders Ten rights are needed to buy one share at $32 and the rights are void after 30 days The shares' market price at this time was $34 per share 2 The company sold the public a $203,000, 10 bond issue at par The company also issued with each $100 bond one detachable stock purchase warrant, which provided for the purchase of common shares at $30 per share Shortly after issuance, similar bonds without warrants were selling at 96 and the warrants at $8 3 All but 10,000 of the rights issued in item 1 were exercised in 30 days 4 At the end of the year, 80 of the warrants in item 2 had been exercised, and the remaining were outstanding and in good standing 5 During the current year, the company granted stock options for 5,000 common shares to company executives The company, using an options pricing model, determined that each option is worth $10 The exercise or strike price is $30 The options were to expire at year end and were considered compensation for the current year 6 All but 1,000 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 each of the transactions Assume the company follows IFRS (Credit account titles are automatically indented when the amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter O for the amounts ) No Account Titles and Explanation Debit Credit 1 No Entry No Entry 0 2 Cash 200000 Bonds Payable 192000 Contributed Surplus Stock Warrants 8000 3 cash 288000 Common Shares 288000 4 Contributed Surplus Stock Warrants 6400 cash 48000 Common Shares 54400 5 Compensation Expense 50000 Contributed Surplus Stock Options 50000 6 For options exercised cash 120000 Contributed Surplus Stock Options 40000 Common Shares 160000 For options lapsed Contributed Surplus Stock Options 10000 Compensation Expense 10000 Prepare the shareholders' equity section of the SFP at the end of the current year Assume that retained earnings at the end of the current year is $750,000 (Enter account name only and do not provide descriptive information ) Wildhorse Inc (Partial) Balance Sheet Shareholders' Equity Share Capital Common Shares $ 4102400 Contributed Surplus Stock Warrants 1600 $ 4104000 Retained Earnings 750000 Total Shareholders' Equity $ 4854000

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The shareholders' equity section of Wildhorse Inc. at the beginning of the current year is as follows: Common shares, 1,000,000 shares authorized, 300,000 shares issued

The shareholders' equity section of Wildhorse Inc. at the beginning of the current year is as follows:

Common shares, 1,000,000 shares authorized, 300,000 shares issued and outstanding		$3,600,000
Retained earnings		570,000

During the current year, the following transactions occurred:

1.		The company issued 107,000 rights to the shareholders. Ten rights are needed to buy one share at $32 and the rights are void after 30 days. The shares' market price at this time was $34 per share.
2.		The company sold the public a $203,000, 10% bond issue at par. The company also issued with each $100 bond one detachable stock purchase warrant, which provided for the purchase of common shares at $30 per share. Shortly after issuance, similar bonds without warrants were selling at 96 and the warrants at $8.
3.		All but 10,000 of the rights issued in item 1 were exercised in 30 days.
4.		At the end of the year, 80% of the warrants in item 2 had been exercised, and the remaining were outstanding and in good standing.
5.		During the current year, the company granted stock options for 5,000 common shares to company executives. The company, using an options pricing model, determined that each option is worth $10. The exercise or strike price is $30. The options were to expire at year end and were considered compensation for the current year.
6.		All but 1,000 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 each of the transactions. Assume the company follows IFRS. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit 1. No Entry No Entry 0 2. Cash 200000 Bonds Payable 192000 Contributed Surplus - Stock Warrants 8000 3. cash 288000 Common Shares 288000 4. Contributed Surplus - Stock Warrants 6400 cash 48000 Common Shares 54400 5. Compensation Expense 50000 Contributed Surplus - Stock Options 50000 6. For options exercised: cash 120000 Contributed Surplus - Stock Options 40000 Common Shares 160000 For options lapsed: Contributed Surplus - Stock Options 10000 Compensation Expense 10000 Prepare the shareholders' equity section of the SFP at the end of the current year. Assume that retained earnings at the end of the current year is $750,000. (Enter account name only and do not provide descriptive information.) Wildhorse Inc. (Partial) Balance Sheet Shareholders' Equity: Share Capital Common Shares $ 4102400 Contributed Surplus - Stock Warrants 1600 $ 4104000 Retained Earnings 750000 Total Shareholders' Equity $ 4854000