Please show all work On November 1, 2017, Olympic Company adopted a stock-option plan that granted...
Please show all work
- On November 1, 2017, Olympic Company adopted a stock-option plan that granted options to key executives to purchase 30,000 shares of the company’s $10 par value common stock. The options were granted on January 2, 2018, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $40, and the fair value option-pricing model determines the total compensation expense to be $450,000. All of the options were exercised during the year 2020 on May 1 when the market price was $77 a share. Prepare journal entries relating to the stock-option plan for the years 2018, 2019, and 2020.
Homework Answers
1. Compensation Expenses A/c Dr. $225,000
Paid in Capital - Stock options $225,000
(Record compensation for 2018 = 1/2 * $450,000)
2. Compensation Expenses A/c Dr. $225,000
Paid in Capital - Stock options $225,000
(Record compensation for 2019 = 1/2 * $450,000)
3. Cash A/c Dr. ($40*30,000) 1,200,000
Capital - Stock options Dr. $450,000
To Common Stock (30,000*$10) $300,000
To Premium on capital $1,350,000
( To Record issuance of shares of $10 each at option price of $40)
* Market price of the stock is irrelevant here
Add Answer to:
Please show all work
On November 1, 2017, Olympic Company adopted a stock-option
plan that granted...
On November 1, 2017, Metlock Company adopted a stock-option plan that granted options to key executives...
On November 1, 2017, Metlock Company adopted a stock-option plan that granted options to key executives to purchase 33,900 shares of the company’s $10 par value common stock. The options were granted on January 2, 2018, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $30, and the fair value option-pricing model determines the...
On November 1, 2020, Sage Company adopted a stock-option plan that granted options to key executives...
On November 1, 2020, Sage Company adopted a stock-option plan that granted options to key executives to purchase 24,300 shares of the company’s $10 par value common stock. The options were granted on January 2, 2021, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $50, and the fair value option-pricing model determines the...
Exercise 16-10 On November 1, 2017, Monty Company adopted a stock-option plan that granted options to...
Exercise 16-10 On November 1, 2017, Monty Company adopted a stock-option plan that granted options to key executives to purchase 26,700 shares of the company's $9 par value common stock. The options were granted on January 2, 2018, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $30, and the fair value option-pricing model...
On November 1, 2020, Riverbed Company adopted a stock-option plan that granted options to key executives...
On November 1, 2020, Riverbed Company adopted a stock-option plan that granted options to key executives to purchase 24,900 shares of the company's $9 par value common stock. The options were granted on January 2, 2021, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $30, and the fair value option-pricing model determines the...
On November 1, 2017, Ayayai Company adopted a stock-option plan that granted options to key executives...
On November 1, 2017, Ayayai Company adopted a stock-option plan
that granted options to key executives to purchase 24,300 shares of
the company’s $10 par value common stock. The options were granted
on January 2, 2018, and were exercisable 2 years after the date of
grant if the grantee was still an employee of the company. The
options expired 6 years from date of grant. The option price was
set at $50, and the fair value option-pricing model determines the...
On November 1, 2020, Pronghorn Company adopted a stock-option plan that granted options to key executives...
On November 1, 2020, Pronghorn Company adopted a stock-option plan that granted options to key executives to purchase 21,300 shares of the company's $11 par value common stock. The options were granted on January 2, 2021, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $40, and the fair value option-pricing model determines the...
Current Attempt in Progress On November 1, 2020, Cullumber Company adopted a stock option plan that...
Current Attempt in Progress On November 1, 2020, Cullumber Company adopted a stock option plan that granted options to key executives to purchase 27,300 shares of the company's $9 par value common stock. The options were granted on January 2, 2021, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $50, and the fair...
E16.10 (LO 3) (Issuance and Exercise of Stock Options) On November 1, 2020, Columbo Com- pany...
E16.10 (LO 3) (Issuance and Exercise of Stock Options) On November 1, 2020, Columbo Com- pany adopted a stock-option plan that granted options to key executives to purchase 30,000 shares of the company's $10 par value common stock. The options were granted on January 2, 2021, and were exer- cisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was...
E16.10 (LO 3) (Issuance and Exercise of Stock Options) On November 1, 2020, Columbo Com- pany...
E16.10 (LO 3) (Issuance and Exercise of Stock Options) On November 1, 2020, Columbo Com- pany adopted a stock-option plan that granted options to key executives to purchase 30,000 shares of the company's $10 par value common stock. The options were granted on January 2, 2021, and were exer- cisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was...
On November 1, 2017 Monty Company adopted a stock-otion plan that are option to keycutives to...
On November 1, 2017 Monty Company adopted a stock-otion plan that are option to keycutives to purchase 18000 shares of the company's $10 par value common stock. The options were granted on January 2.2018, and were able 2 years after the date of t he water was employee of the compare the options expired years from date of grant. The option price was $40, and the fair value option: peiding model determines the total compensation expens to be $351.000 All...
Exercise 16-10 On November 1, 2017, Monty Company adopted a stock-option plan that granted options to key executives to purchase 26,700 shares of the company's $9 par value common stock. The options were granted on January 2, 2018, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $30, and the fair value option-pricing model...
On November 1, 2020, Riverbed Company adopted a stock-option plan that granted options to key executives to purchase 24,900 shares of the company's $9 par value common stock. The options were granted on January 2, 2021, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $30, and the fair value option-pricing model determines the...
On November 1, 2017, Ayayai Company adopted a stock-option plan
that granted options to key executives to purchase 24,300 shares of
the company’s $10 par value common stock. The options were granted
on January 2, 2018, and were exercisable 2 years after the date of
grant if the grantee was still an employee of the company. The
options expired 6 years from date of grant. The option price was
set at $50, and the fair value option-pricing model determines the...
On November 1, 2020, Pronghorn Company adopted a stock-option plan that granted options to key executives to purchase 21,300 shares of the company's $11 par value common stock. The options were granted on January 2, 2021, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $40, and the fair value option-pricing model determines the...
Current Attempt in Progress On November 1, 2020, Cullumber Company adopted a stock option plan that granted options to key executives to purchase 27,300 shares of the company's $9 par value common stock. The options were granted on January 2, 2021, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $50, and the fair...
E16.10 (LO 3) (Issuance and Exercise of Stock Options) On November 1, 2020, Columbo Com- pany adopted a stock-option plan that granted options to key executives to purchase 30,000 shares of the company's $10 par value common stock. The options were granted on January 2, 2021, and were exer- cisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was...
E16.10 (LO 3) (Issuance and Exercise of Stock Options) On November 1, 2020, Columbo Com- pany adopted a stock-option plan that granted options to key executives to purchase 30,000 shares of the company's $10 par value common stock. The options were granted on January 2, 2021, and were exer- cisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was...
On November 1, 2017 Monty Company adopted a stock-otion plan that are option to keycutives to purchase 18000 shares of the company's $10 par value common stock. The options were granted on January 2.2018, and were able 2 years after the date of t he water was employee of the compare the options expired years from date of grant. The option price was $40, and the fair value option: peiding model determines the total compensation expens to be $351.000 All...
Most questions answered within 3 hours.
-
A solid, uniform disk of radius 0.250 m and mass 53.7 kg rolls
down a ramp...
asked 1 minute ago -
Given the following table of high speed internet access vs.
annual home income:
Home Income
%...
asked 26 minutes ago -
A baseball batter hits a 0.145kg baseball straight up into the
air. The baseball leaves the...
asked 59 minutes ago -
An FM modulator is tested using
single-tone baseband signal with frequency of 50kHz and a sprectrum...
asked 1 hour ago -
Write the ionic equations for the first stage of salts
hydrolysis.
Anion, Cation?
Na2S
NiSO4
K2SO4...
asked 2 hours ago -
suppose there is a normally distributed population with a mean of
250 and a standard deviation...
asked 3 hours ago -
Question Three
Suppose you as project manager are using the Waterfall
development methodology on a large...
asked 4 hours ago -
Which statement is not true about welfare in Canada?
A.Benefits typically vary based on one's ability...
asked 5 hours ago -
Please help me with FLOWCHART and UML diagram for class,
thank you!
#include <iostream>
#include <fstream>...
asked 5 hours ago -
3. Describe the “logic circuit” of the Lac operon. Which
proteins are bound or not to...
asked 5 hours ago -
Ayesha’s adjusted gross income is $60,000 in 2019. She donated a
piece of artwork with a...
asked 5 hours ago -
For Dijkstra’s shortest path algorithm:
a. Give the Big-O time for Dijkstra’s shortest path algorithm
and...
asked 6 hours ago