1 | Stock Option date | January 1, 2018 | |
2 | Compensation Expense | 64 Million | |
($32Million * $6 / 3years) | |||
3 | |||
Date | General Journal | Debit | Credit |
2019 | Compensation Expense | $ 38.4 | |
Paid in Capital - Stock Options | $ 38.4 | ||
((32*6*80%*2/3)-64) | |||
2020 | Compensation Expense | $ 51.2 | |
Paid in Capital - Stock Options | $ 51.2 | ||
((32*6*80%*3/3)-64-38.4) | |||
2021 | Cash (28.8*30*80%) | $ 691.2 | |
Paid in Capital - Stock Options (28.8*6) | $ 172.8 | ||
Common Stock ((32-3.2)*1) | $ 28.8 | ||
Paid in Capital - Excess of par | $ 835.2 |
On October 15, 2017, the board of directors of Ensor Materials Corporation approved a stock option...
On October 15, 2017, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2018, 38 million stock options were granted, exercisable for 38 million shares of Ensor's $1 par common stock. The options are exercisable between January 1, 2021, and December 31, 2023, at 80% of the quoted market price on January 1, 2018, which was $10. The fair value of the 38 million options, estimated by an appropriate option...
On October 15, 2017, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2018, 32 million stock options were granted, exercisable for 32 million shares of Ensor's $1 par common stock. The options are exercisable between January 1, 2021, and December 31, 2023, at 90% of the quoted market price on January 1, 2018, which was $20. The fair value of the 32 million options, estimated by an appropriate option...
On October 15, 2020, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2021, 26 million stock options were granted, exercisable for 26 million shares of Ensor's $1 par common stock. The options are exercisable between January 1, 2024, and December 31, 2026, at 80% of the quoted market price on January 1, 2021, which was $20. The fair value of the 26 million options, estimated by an appropriate option...
Problem 19-6 Stock option plan; deferred tax effect of a nonqualifying plan [LO19-2] JBL Aircraft manufactures and distributes aircraft parts and supplies. Employees are offered a variety of share-based compensation plans. Under its nonqualified stock option plan. JBL granted options to key officers on January 1, 2018. The options permit holders to acquire 6 million of the company's $1 par common shares for $30 within the next six years, but not before January 1, 2021 (the vesting date). The market...
Exercise 19-8 Stock options exercise; expirations (LO19-21 Walters Audio Visual Inc. offers an Incentive stock option plan to its regional managers. On January 1, 2018, options were granted for 32 million $1 par common shares. The exercise price is the market price on the grant date-$9 per share. Options cannot be exercised prior to January 1, 2020, and expire December 31, 2024. The fair value of the 32 million options, estimated by an appropriate option pricing model, is $1 per...
SSG Cycles manufactures and distributes motorcycle parts and supplies. Employees are offered a variety of share-based compensation plans. Under its nonqualified stock option plan, SSG granted options to key officers on January 1, 2018. The options permit holders to acquire 19 million of the company's $1 par common shares for $16 within the next six years, but not before January 1, 2021 (the vesting date). The market price of the shares on the date of grant is $18 per share....
On January 1, 2021, Adams-Meneke Corporation granted 30 million incentive stock options to division managers, each permitting holders to purchase one share of the company's $1 par common shares within the next six years, but not before December 31, 2023 (the vesting date). The exercise price is the market price of the shares on the date of grant, currently $40 per share. The fair value of the options, estimated by an appropriate option pricing model, is $4 per option. Management's...
On January 1, 2018, Adams-Meneke Corporation granted 30 million incentive stock options to division managers, each permitting holders to purchase one share of the company's $1 par common shares within the next six years, but not before December 31, 2020 (the vesting date). The exercise price is the market price of the shares on the date of grant, currently $40 per share. The fair value of the options, estimated by an appropriate option pricing model, is $4 per option. Management's...
National Supply's shareholders' equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 9 million shares at $1 par Paid-in capital-excess of par Retained earnings $ 9,000,000 63,000,000 92,500,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February 15, 2021 February...
M11-8 Recording Dividends LO11-4 On April 15 of this year, the board of directors for Jedi Company declared a cash dividend of 53 cents per share payable to stockholders of record on May 20. The dividends will be paid on June 14. The company has 119,000 shares of stock outstanding. Prepare any necessary journal entries for each date. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) required" in the first...