Homework Answers
|
Date |
Account titles and explanation |
Debit |
Credit |
|
1/2/2021 |
No entry |
||
|
12/31/2021 |
Compensation Expense (373500*1/2) |
186750 |
|
|
Paid-in Capital—Stock Options |
186750 |
||
|
(To record compensation expense for 2021) |
|||
|
12/31/2021 |
Compensation Expense |
186750 |
|
|
Paid-in Capital—Stock Options |
186750 |
||
|
(To record compensation expense for 2022) |
|||
|
1/3/2022 |
Cash (16600*30) |
498000 |
|
|
Paid-in Capital—Stock Options (373500*16600/24900) |
249000 |
||
|
Common Stock (16600*9) |
149400 |
||
|
Paid-in Capital in Excess of Par |
597600 |
||
|
(To record issuance of 16600 shares of $9 par value stock upon exercise of options at option price of $30) |
|||
|
1/5/2022 |
Cash (8300*30) |
249000 |
|
|
Paid-in Capital—Stock Options (373500*8300/24900) |
124500 |
||
|
Common Stock (8300*9) |
74700 |
||
|
Paid-in Capital in Excess of Par |
298800 |
||
|
(To record issuance of 8300 shares of $9 par value stock upon exercise of options at option price of $30) |
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