Homework Answers
Following figures are in millions.
(1)
total compensation cost = options granted x fair value of each option
= $23 x 2 = $46
(2)
| Date | Account title | debit | credit |
|---|---|---|---|
| January 1, 2018 | no journal entry is required | ||
| December 31, 2018 |
compensation expense ($46/2) Paid in capital - stock option |
$23 . |
. $23 |
| December 31, 2018 |
compensation expense Paid in capital - stock option |
$23 . |
. $23 |
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compensation plans to employees. Under its restricted stock unit
plan, the company on January 1, 2021, granted restricted stock
units (RSUs) representing 7 million of its $1 par common shares to
various division managers. The shares are subject to forfeiture if
employment is terminated within three years. The common shares have
a market price of $27.00 per share on the grant date. Management’s
policy is to estimate forfeitures.
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